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Petroleo Brasileiro SA Petrobras (PBR)

PBR on New York Consolidated

24 Feb 2017
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$-0.49 (-4.58%)
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Latest Key Developments (Source: Significant Developments)

Statoil CEO sees further upside to Sverdrup field reserve estimates
Tuesday, 7 Feb 2017 05:16am EST 

Statoil Asa : CEO says "there are definitely upsides attached" to the latest Johan Sverdrup reserves estimates, which now stands at 2.0-3.0 billion barrels of oil equivalents . CFO says Johan Castberg field development cost now seen at NOK "45-plus billion" ($5.40 billion) versus NOK 50-60 billion seen 12 months ago . CEO says break-even cost of Brazil's Peregrino II project now below $45 per barrel . Both CEO Eldar Saetre and CFO Hans Jakob Hegge spoke on the sidelines of Statoil's earnings and strategy update in London Further company coverage: [STL.OL] ($1 = 8.3342 Norwegian crowns) (Reporting by Nerijus Adomaitis, writing by Terje Solsvik, editing by Gwladys Fouche) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Brazil's Petrobras raises LPG price 12.3 pct starting Dec 7
Tuesday, 6 Dec 2016 01:12pm EST 

Brazil's state-run oil company Petroleo Brasileiro SA Petrobras says on Tuesday: Liquified-petroleum gas (LPG) prices for wholesale distrubtors will rise starting Dec. 7 by 12.3 pct . The price increase will not affect retail sales of 13-kg tanks, which are widely used in Brazil for kitchen cooking gas . Late on Monday, Petrobras announced an increase in wholesale gasoline and diesel fuel prices in Brazil by 9.5 percent and 8.1 percent, respectively Related stories on Eikon: [ID:nE6N1CG035] Further company coverage: [PETR4.SA] ((reese.ewing@thomsonreuters.com;)).  Full Article

Karoon Gas Australia confirms negotiations with Petrobras
Thursday, 6 Oct 2016 08:18pm EDT 

Karoon Gas Australia Ltd : Karoon confirms negotiations with Petrobras . Confirms it has been awarded right to negotiate a final agreement with petrobras . Awarded right to negotiate agreement, conduct confirmatory due diligence for acquisition of interest in Baúna Project, Tartaruga Development Project .Next stage of negotiation follows almost 12 months of a competitive bidding process.  Full Article

Brookfield Infrastructure Consortium to acquire South American Natural Gas Transmission Utility
Friday, 23 Sep 2016 06:52am EDT 

Brookfield Infrastructure Partners LP : Brookfield Infrastructure Consortium to acquire South American Natural Gas Transmission Utility . Deal for approximately US$5.2 billion . Petrobras, as a 10% owner in NTS, will have customary governance rights commensurate with size of its interest . Will fund proportionate share of up-front payment from existing liquidity which totalled about US$2 billion at June 30, 2016 . Have reached agreement to acquire a 90% controlling stake in Nova Transportadora Do Sudeste S.A. . Brookfield Infrastructure's investment will be a minimum of approximately 20% of transaction, representing about US$825 million . Brookfield Asset Management has agreed to participate initially for an approximate 30% interest in consortium .Purchase price payable in 2 tranches; up-front payment of us$4.3 billion on closing,balance payable on 5th anniversary of closing.  Full Article

SBM Offshore updates on status of leniency agreement
Friday, 2 Sep 2016 01:00am EDT 

SBM Offshore NV : Update on status of leniency agreement . Fifth chamber of Brazilian federal prosecutor service has not approved leniency agreement signed by Brazilian authorities, Petrobras and SBM Offshore .Company is seeking clarification on decision and will update market accordingly.  Full Article

Diamond Offshore says unit received notice of termination from Petroleo Brasileiro
Thursday, 1 Sep 2016 06:25am EDT 

Diamond Offshore Drilling Inc : On August 30, 2016, unit received notice of termination from Petroleo Brasileiro S.A. of drilling contract on Ocean Valor . Co does not believe Petrobras had valid/lawful basis for terminating contract, co to defend rights of unit under contract . Drilling contract was estimated to conclude in accordance with its terms in October 2018 - SEC filing Source: (http://bit.ly/2bXomra ) Further company coverage: [DO.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Petrobras CEO expects to make decision on binding offers for BR Distribuidora in Q1 2017
Monday, 29 Aug 2016 07:39am EDT 

Petrobras CEO Pedro Parente told reporters on the sidelines of the ONS oil conference in Stavanger, Norway, on Monday: Expects to make decision on binding proposals for BR Distribuidora in Q1 2017. Says: "The binding proposals we assess that we are going to have them by the end of this year and then first quarter next year we will have a decision on this issue." . Says has as not yet received offers for BR Distribuidora (Reporting by Gwladys Fouche and Karolin Schaps) ((gwladys.fouche@thomsonreuters.com;)).  Full Article

Keppel Corp responds to media reports on ongoing investigations on Petrobras
Wednesday, 3 Aug 2016 09:34am EDT 

Keppel Corporation: Keppel Corporation response to media reports on ongoing investigations on Petrobras . Refers to Bloomberg article dated August 3, 2016 reporting allegations made by Zwi Skornicki in criminal proceedings brought against him in Brazil . None of individuals named in article, including current CEO of Keppel Offshore and Chow Yew Yuen, have ever authorized Skornicki to make any payments as bribes .Keppel strongly denies the allegations reportedly made that Keppel executives authorized Skornicki to pay bribes on its behalf.  Full Article

Petrobras working hard to meet $15.1 bln asset-sale goal
Friday, 29 Jul 2016 09:30am EDT 

Petroleo Brasilerio SA, or Petrobras, Chief Financial Officer Ivan Monteiro and Exploration and Production chief Solange Guedes spoke to reporters in Sao Paulo about the company's agreement to sell its 66 percent stake in the BM-S-8 offshore block, home to the giant Carcara field, to Norway's Statoil ASA . : Recent Petrobras asset sales an important sign company is moving forward with large plan to sell assets including BR Distribuidora fuels unit and onshore oil fields. . Petrobras says strategy and asset-sale plan is based on generating cash in the near term. . Petrobras CFO Monteiro says sale of Chile, Argentina, and Brazil offshore and petrochemical assets shows company is keeping its promises. . Petrobras exploration and production chief says sale of 66 percent stake in offshore Carcará field to Norway's Statoil will free up cash for investments that will have expected return sooner. . Petrobras says Carcara offshore oil stake sold to Statoil will only bring return to owners in next decade. . Petrobras says Carcara field sold to Statoil will require equipment that is very different than Petrobras' existing subsalt systems and will cost 25 percent to 30 percent more than its standard offshore systems..  Full Article

Statoil's acquisition of Petrobras licence will not impact dividend policy -CFO
Friday, 29 Jul 2016 05:53am EDT 

: Statoil CFO, Hans Jakob Hegge, tells an investor call the newly announced acquisition of Petrobras' offshore licence BM-S-8 in Brazil will not impact the firm's dividend policy Further company coverage: [STL.OL] (Reporting By Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

More From Around the Web


Petrobras settles four more lawsuits with investors in the U.S

SAO PAULO Brazil's state-run oil company Petróleo Brasileiro SA, or Petrobras, said on Friday its board has approved settlements with investors in four more lawsuits in a U.S. federal court in New York.