Key Developments: Petroleo Brasileiro Petrobras SA (PBR)
18.11USD
22 May 2013
$-0.25 (-1.36%)
$18.36
$18.01
$18.26
$17.86
13,286,010
16,363,908
$24.83
$14.40
Latest Key Developments (Source: Significant Developments)
Petroleo Brasileiro Petrobras SA Prices Global Notes
Petroleo Brasileiro Petrobras SA announced that it has priced different tranches, registered in SEC (US Securities and Exchange Commission), of global notes in USD, issued by the Company’s wholly-owned subsidiary, Petrobras Global Finance BV. BB Securities Ltd, Citigroup Global Markets Inc, HSBC Securities (USA) Inc, Itau BBA USA Securities Inc, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co are the lead coordinators of the transaction, and Mitsubishi UFJ Securities (USA) Inc and Standard Chartered Bank act as co-managers. The terms of the transaction are as follow: USD 1,250,000,000 global notes, maturing on May 20, 2016, with coupon of 2%; USD 1,000,000,000 global notes, maturing on May 20, 2016; USD 2,000,000,000 global notes, maturing on January 15, 2019, with coupon of 3%; USD 1,500,000,000 global notes, maturing on January 15, 2019; USD 3,500,000,000 global notes, maturing on May 20, 2023, with coupon of 4.375%, and USD 1,750,000,000 global notes, maturing on May 20, 2043, with coupon of 5.625%. Full Article
Petroleo Brasileiro Petrobras SA Confirms Plans For Multi-Tranche Bond Issue-DJ
Dow Jones reported that Petroleo Brasileiro Petrobras SA will wade back into the international debt market in an effort to raise billions of dollars toward an ambitious capital spending program. In a filing with the U.S. Securities and Exchange Commission, Petrobras said it will offer six separate dollar-denominated bonds, including fixed-rate bonds with maturities in 2016, 2019, 2023 and 2043. Two other tranches will feature floating rate notes due 2016 and 2019. The Company hired BB Securities, Bank of America Merrill Lynch, Itau BBA, Morgan Stanley, Citi, HSBC, and JP Morgan to coordinate the operation. Petrobras said it intends to use the proceeds to finance capital expenditures under its 2013-2017 Business Plan and for general corporate purposes. Full Article
Petroleo Brasileiro Petrobras SA Approves FY 2012 Own Capital Interest Payment
Petroleo Brasileiro Petrobras SA announced that on April 29, 2013 it approved the payment of own capital interest for fiscal year 2012 totaling BRL 6,267,015,137.23 corresponding to BRL 0.27 per ordinary share and BRL 0.76 per preferred share to be paid out to shareholders on record as of April 29, 2013. Payment will be done on May 29, 2013 and on August 30, 2013. Shares will be traded ex-interests as from April 30, 2013. Full Article
Petroleo Brasileiro Petrobras SA To Borrow $20 Billion In FY 2013-Reuters
Reuters reported that Petroleo Brasileiro Petrobras SA would borrow $20 billion in fiscal 2013, 63% above its planned five-year average, as stagnant revenue and fuel subsidies increase the need for debt to finance investment. The borrowing will come from local and international sources and include bank loans and bonds. In the Company's $237 billion 2013-2017 strategic plan, announced last month, the Company planned to borrow an average of $12.3 billion for each of the five years of the plan. While fiscal 2013 debt target is 20% below fiscal 2012 borrowing of about $25 billion, the continued above average level shows the difficulties Petrobras faces trying to meet conflicting goals of the government, its main shareholder. Full Article
Petroleo Brasileiro Petrobras SA Announces FY 2012 Own Capital Interest Payment
Petroleo Brasileiro Petrobras SA announced that on April 29, 2013 it will approve the payment of own capital interest for fiscal year 2012 totaling BRL 6,267,015,137.23 corresponding to BRL 0.27 per ordinary share and BRL 0.76 per preferred share to be paid out to shareholders on record as of April 29, 2013. Payment will be done on May 29, 2013 and on August 30, 2013. Shares will be traded ex-interests as from April 30, 2013. Full Article
Consortium, Including Petroleo Brasileiro Petrobras SA, Announces Discovery Of Fourth Oil Well In Cuenca de Santos
Petroleo Brasileiro Petrobras SA (Petrobras) announced that it has confirmed the existence of good quality oil in well 3-RJS-706 (3-BRSA-1132-RJS), located in the area of Iara, in BMS-11 block, in Cuenca de Santos. This well is located 226 km from the coast of Rio de Janeiro, 6 km from the discovery well (1-RJS-656, Iara) at a water depth of 2,197 meters. This well, the fourth in the area of Iara, is still being drilled and will continue with the aim of defining the base of the oil reservoirs. The Consortium will continue the activities under evaluation plan approved by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), including formation tests to evaluate the productivity of the reservoir. Petrobras is the operator of the consortium (65%) in partnership with BG E & P Brasil (25%) and Petrogal Brasil / Galp Energia (10%). Full Article
Petroleo Brasileiro Petrobras SA Announces Oil Discovery
Petroleo Brasileiro Petrobras SA announced that the sixth well drilled after the signing of Cessao Onerosa contract discovered oil in the area called Florim in subsalt of the Santos Basin. Informally known as Florim the well 1-BRSA-1116-RJS (1-RJS-704) is located in water depth of 2,009 meters 206 kilometers from the Coast of Rio de Janeiro proved the existence of oil at 29 degrees on the American Petroleum Institute (API) scale located immediately below the salt layer. The well is still being drilled and has reached the level of 5,498 meters. It shall reach 6,100 meters. The exploratory case shall be finished by September 2014. Full Article
Petroleo Brasileiro Petrobras SA Starts Oil Production in Subsalt Bauna Field
Petroleo Brasileiro Petrobras SA announced that it has started producing oil in the subsalt Bauna Field in the offshore Santos Basin. The field is located in the BMS-40 block about 200 kilometers (124 miles) south of Sao Paulo state's coast and is 100% owned by Petrobras. It contains 113.4 million barrels of light oil, at 34 degrees on the American Petroleum Institute (API) scale, and natural gas equivalent. Petrobras started operating the floating production, storage and offloading (FPSO) vessel Cidade de Itajai on February 16, 2013, enabling it to initiate operations at Bauna, formerly known as the Tiro prospect. The FPSO vessel is owned by the OOG-TK consortium, which includes Odebrecht and the Teekay Corporation. It has the capacity to process up to 80,000 barrels of light crude and 2 million barrels of natural gas per day. The vessel connects to the 9-SPS-88 well, which has the potential to produce 12,000 barrels of oil per day (bpd). It will be attached to five more producing wells in coming months, and should achieve peak production in August 2013. Full Article
Petroleo Brasileiro Petrobras SA And Partners Start Oil Production At Sapinhoa Subsalt Field-Reuters
Reuters reported that Petroleo Brasileiro Petrobras SA (Petrobras) and its partners started production of subsalt crude at its Sapinhoa Norte field in the Santos Basin. Petrobras is the operator in the concession block BM-S-9 where the Sapinhoa field is located with partners BG E&P Brasil Ltda, a subsidiary of BG Group PLC which holds 30% of the block, and the joint venture Repsol Sinopec Brasil SA with 25%. Petrobras said it will begin by producing 15,000 barrels a day for up to six months from the field. The Sapinhoa is estimated to hold 2.1 billion barrels of recoverable oil equivalent. Full Article
Petroleo Brasileiro Petrobras SA Announces Oil Accumulation in Espirito Santo Well
Petroleo Brasileiro Petrobras SA announced that the extension well 3-BRSA-1128-ESS confirmed the presence of oil and gas in reservoirs of post-salt of the Espirito Santo Basin. The discovery of the accumulation had been announced before on December 17, 2010 when the drilling of the 1-BRSA-882-ESS, Indra well was performed. The new well, informally known as Arjuna, is part of the 1-BRSA-882-ESS (Indra) evaluation plan and is located 130 kilometers off the cost of Espirito Santo State and 0.9 kilometers northeast from the discovery well. The petroleum reservoirs have the thickness of approximately 200 meters and are approximately 3,679 meters of depth in water of 2,143 meters. Full Article
Record trades as emerging markets go mainstream
NEW YORK, May 17 (IFR) - By raising a combined US$14.25bn in one day, Brazil's Petrobras and Indonesia's Pertamina underscored the enormous bid for emerging market credits.
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