Tag: Petrobras

Wednesday, February 24th 2021 - 08:58 UTC
Bolsonaro poised to ensure the removal of Petrobras CEO

Brazilian president seems poised to win his controversial struggle over the removal of the country's giant oil and gas company Petrobras CEO, and replacement by a former Army general. In effect, Petrobras on Tuesday called an extraordinary shareholders' meeting, a move that all but guarantees the exit of CEO Roberto Castello Branco.
Tuesday, February 23rd 2021 - 08:11 UTC
Bolsonaro's arrogance plunges Bovespa index 4% and Petrobras shares 21%

Brazil’s benchmark Bovespa index fell more than 4% Monday following President Jair Bolsonaro's decision last week to replace the chief executive of state oil company Petrobras. The company's shares plunged more than 21% on news that the government nominated an army general with no oil and gas industry experience as its new CEO.
Monday, February 22nd 2021 - 08:10 UTC
Fuel prices dispute, Petrobras CEO removal trigger fears of economic populism

More changes are in the pipeline, announced Brazilian president Jair Bolsonaro, after replacing the CEO of the country's oil and gas giant Petrobras with a former general. The move had an immediate impact in markets given the confidence investors had in the removed University of Chicago educated economist, Roberto Castello Branco.
Saturday, February 20th 2021 - 08:42 UTC
Bolsonaro sacks Petrobras CEO over diesel prices dispute and truckers strike threat

Brazilian President Jair Bolsonaro on Friday sacked a market-friendly economist as CEO of Petrobras and named a retired general to replace him, following on disputes over diesel prices that threatened a major teamsters stoppage.
Tuesday, February 2nd 2021 - 08:54 UTC
Petrobras strikes oil in the pre-salt Campos Basin offshore Rio de Janeiro

Brazil's oil and gas giant Petrobras announced a hydrocarbon discovery in the pre-salt Campos Basin offshore Rio de Janeiro state, some 200 kilometers from the coast and at a depth of 2,950 meters.
Tuesday, January 26th 2021 - 09:30 UTC
Petrobras oil output hits record in 2020, 2,3 million bpd

By Irina Slav for Oilprice.com – Crude oil output from fields operated by Brazil's energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million BPD, Bloomberg reported, comparing the production rate to that of Kuwait.
Thursday, January 14th 2021 - 09:19 UTC
Brazilian oil export record in 2020, average 1,4 million bpd

Brazil established a new record for oil exports in 2020, with sales averaging 1,4 million bpd and a peak of 1,9 million bpd during the month of May, according to the Mines and Energy minister Bento Albuquerque. The minister also announced that on 7 January, Brazil's oil giant Petrobras reached a daily production record of 2,84 million barrels of oil, beating the previous mark set in 2015, with 2.79 million BOE/day.
Saturday, December 12th 2020 - 08:45 UTC
Brazilian federal prosecutors file lawsuit against Maersk for alleged corruption involving Petrobras

Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday.
Tuesday, November 17th 2020 - 09:34 UTC
Brazil is emerging as the world's leading offshore oil producer

By Matthew Smith for Oilprice.com – Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the third-largest supplier of crude oil to China, the world’s second-largest economy.
Monday, November 9th 2020 - 09:21 UTC
Petrobras expects increased production from the pre-salt offshore basin

By Tsvetana Paraskova for Oilprice.com – Because of the increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said when it reported its production figures for Q3.