Oil giants to explore projects with Brazilian green energy group
TotalEnergies, Casa dos Ventos Holding and Petrobras have signed an agreement to explore opportunities in renewable energy and low-carbon hydrogen in Brazil.
Petrobas
Petrobras CEO calls net zero a fad, echoing Exxon oil focus
Petrobras is pledging a 25% cut in carbon emissions by 2030, but that hasn’t stopped Chief Executive Officer Roberto Castello Branco from dismissing pledges by peers to completely neutralize their carbon footprints two decades later.
Fatal accident kills oil worker on Petrobras platform
A fatal accident on the platform of Brazilian oil giant Petrobras has killed one worker.
Petrobras to open up purchase rights to Brazilian onshore, offshore prospects
Brazilian oil firm Petrobras has said today that it intends to open up a number of onshore and offshore oil prospects to potential developers.
Petrobas signs £416million deal to build gas processing unit in Rio
Brazillian state-owned oil firm Petrobas has signed a £416million deal to build a natural gas processing unit on the outskirts of Rio de Janeiro.
Total and Petrobras finalise $2.2billion strategic alliance
Total and Petrobras today finalised their strategic alliance.
Brazil’s Marcelo Odebrecht gets 19 years in jail in carwash case
Marcelo Odebrecht, the former head of one of Brazil’s largest industrial conglomerates, was sentenced to 19 years and four months in jail for crimes including corruption and money laundering.
Petrobas loses 2 million barrels of oil due to industrial action
Brazil's state-run oil company Petrobas it had been unable to produce 2.29 million barrels of oil and 48.4 million cubic meters of natural gas during a strike that began on November 1
DNV GL conducts largest ever controlled release of CO2 from underwater pipeline
DNV GL is conducting the oil and gas industry’s largest ever controlled release of carbon dioxide from an underwater pipeline at its full-scale Spadeadam Testing and Research Centre, located in Cumbria, UK.
BW Offshore suspends dividend as oil sector flatlines
FPSO operator BW Offshore has suspended its dividend to shareholders until the outlook for the oil sector improves.
Petrobras finds more oil in deepwater discovery
Petrobas has made a deep water oil discovery in a new well extension in the Pitu area offshore Brazil.
Subsea 7 sees revenue drop by $702million
The boss of Subsea 7 has said the fundamental long-term outlook for deepwater subsea field developments remains intact despite the company reporting $702million lower revenue in the third quarter of 2015 compared to the same period 12 months ago.
Brazil will drive global growth in FPSO industry to 2019 despite corruption probes
Brazil will lead global growth in the Floating Production, Storage and Offloading vessel (FPSO) industry despite the country’s national oil company, Petrobras, recently facing allegations of corruption, according to research and consulting firm GlobalData.
Seadrill moves to distance itself from Petrobas corruption scandal
Seadrill has moved to distance itself from the Petrobas corruption scandal which has embroiled Sevan, in which it has a controlling stake.
Rosneft acquires 100% holding in Brazil prospect for $55million
Rosneft has closed a $55million deal to acquire PetroRio’s 55% in the Solimões project in Brazil.
Petrobas achieves record output in August
Brazil's Petrobas has reported that output rose 4.5% in August to an all-time high of 2.88 million barrels of oil and equivalent natural gas a day from a year earlier.
Swiss authorities helping Oman in oil corruption probe
The office of Switzerland's attorney general is helping authorities in Oman investigate alleged corruption in the Gulf sultanate's national oil company and oil ministry, a Swiss law enforcement source has said.
Petrobas spending plan already obsolete – new cuts likely
Brazil's state-run oil company Petrobras, which slashed its five-year spending plan by 40% in June, will likely cut back further as growing debt costs, falling oil prices and a weak currency have already made the plan obsolete, two company sources have revealed.
Brazil oil workers tell Petrobas “open-ended” strike starts Friday
Brazil's largest oil workers' union advised Petroleo Brasileiro SA PETR4.SA that it plans to begin an open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday.
Prosafe wins $164million contract for new semi-sub to Petrobas
Semi-submersible provider Prosafe has signed a contract with Petrobras for the provision of the new Safe Eurus accommodation vessel for safety and maintenance support offshore Brazil.
Petrobras posts sharp decline in profits
Petrobas said its net income has fallen by 89% after the company was hit with a one-time charge for underperforming assets. The Brazilian firm’s quarterly profit fell to $150.4million which was affected by a charge to resolve a tax issue with the country’s federal government as well as fines related to its gas and energy, refining and supply and exploration and production units.
Petrobras workers on strike
Brazilian oil workers have begun a 24 hour strike in an effort to halt moves to shrink state-run oil company Petrobas. Union workers, led by FUP – the country’s largest federation of oil workers for refineries and oil platforms – called for employees to walk off their jobs on Thursday at midnight. Petrobas has announced plans to sell $15.1billion of assets by the end of 2016 in a bid to pay down debt.
Credit downgrade threat sinks Brazil stocks as Petrobras slumps
The Ibovespa fell for a second day, led by Petroleo Brasileiro SA, after Finance Minister Joaquim Levy said that a credit downgrade by Moody’s Investors Service is more likely if Brazil doesn’t make economic adjustments. Traders also pushed down the value of shares after newspaper Folha de S Paulo reported Saturday that lower house President Eduardo Cunha would rebel against the administration by blocking a fiscal-austerity package designed to shrink the budget deficit. His announcement escalated a political crisis that already had driven President Dilma Rousseff’s popularity to a record low and revived talks of impeachment.
Petrobras damps Ibovespa’s weekly gain as crude prices decline
State-controlled oil producer Petroleo Brasileiro SA pared the weekly advance of the Ibovespa stock index as a decline in crude dimmed the prospects for the company’s offshore investments. Petrobras slipped to a one-week low Friday as the raw material fell toward $50 a barrel in New York. The oil driller, which is at the center of Brazil’s unprecedented corruption probe and accounts for about 10 percent of the benchmark stock index’s weighting, has said investments in offshore production are economically viable with crude above $45.
Brazilian police target politicians suspected of taking Petrobas bribes
Brazilian police carried out their first search and seizure operations involving politicians suspected of taking bribes in a scandal involving state-run oil firm Petrobras on Tuesday, local media and prosecutors said. Senators Fernando Collor de Mello and Ciro Nogueira are among the names being investigated in the 16th round of the probe, dubbed "Politeia", TV Globo and newspaper O Estado de S. Paulo said. A total of 53 search and seizure operations were carried out in order to prevent evidence from being destroyed, according to statements from the police and federal prosecutors.