Petrobras Company News

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Petrobras Divesting Partial Stake in Espírito Santo Basin
Wednesday, June 03, 2020The concessions are strategically positioned in relation to key post-salt discoveries.

Petrobras Moves Forward with Camamu Stake Sale
Tuesday, June 02, 2020The sale is in line with the company's strategy of optimizing its portfolio and increasing the focus in deep and ultra-deep waters.

Petrobras Books Hefty 1Q Impairment on Oil, Gas Assets
Monday, May 18, 2020The company wrote off the entire value of its shallow-water assets.

Petrobras Confirms Covid-19 Cases on Xareu Platforms
Thursday, May 14, 2020All underwent RT-PCR testing, are in isolation and being monitored by health teams.

Petrobras Plans to Divest Manati Field Stake
Tuesday, May 05, 2020Petrobras is the operator with a 35 percent interest.

Sumitomo Joins Yinson in Petrobras FPSO Project
Thursday, April 30, 2020The agreement grants Sumitomo a 25-percent interest in the FPSO Anna Nery project that Petrobras awarded Yinson last fall.

Petrobras Switches Gears on Production Cuts
Wednesday, April 29, 2020Plans are also underway for initiatives that expand oil export capacity.

BW Offshore Gets FPSO Contract Extension
Wednesday, April 29, 2020With this update the contract will expire on June 11, 2020.

Petrobras Hits Oil in Santos Basin Pre-Salt
Monday, April 06, 2020The pioneer well is about 200 km off the coast of the city of Santos, at a water depth of 1,995 meters.

Petrobras Cuts Capex, Oil Output Amid Market Turmoil
Friday, March 27, 2020Salary cuts, postponed dividend payments and delayed exploration are all part of the survival plan.

Murphy and Petrobras Award Five-year FPSO Contract
Thursday, March 19, 2020The MP GOM partnership between Murphy EXPRO and Petrobras America has hired the BW Pioneer FPSO for at least five years.

Allseas Drillship to Pursue Deep-Sea Metals
Thursday, March 05, 2020Allseas will equip the Vitoria 10000, above, with a riser to recover rocks laden with valuable metals from the ocean floor. PHOTO SOURCE: Allseas Group S.A.

Offshore Drilling Contractor Hits Full Utilization
Tuesday, February 11, 2020Constellation Oil Services has signed a three-year contract with Petrobras for the Atlantic Star semi-submersible rig.

Petrobras and Chevron Selling Stake in Papa-Terra Field
Tuesday, February 04, 2020Papa-terra field is part of the BC-20 concession and is located at a water depth of 1,200 meters.

Brazil Aiming to Double its Oil Production
Friday, November 29, 2019Future expansion depends on access to capital, high-end tech from foreign investors and big oil companies with deepwater and pre-salt expertise.

Petrobras CEO Blames High Price Tag for Auction Flop
Thursday, November 07, 2019Brazil had its second failed oil auction in two days, prompting government officials and the head of the state-run producer to criticize bidding rules.

Brazil's Largest Ever Oil Auction Flops
Wednesday, November 06, 2019State-controlled Petrobras did most of the bidding while other major oil companies stayed away.

Priciest Oil Auction Could Raise $50B in Brazil
Monday, October 21, 2019An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation.

Deepwater Transformation Sparking New Interest
Thursday, October 17, 2019Changes have revived interest in deepwater projects and enabled new ones in regions including the North Sea, the Gulf of Mexico and China Seas.

Mexico's Growing Reliance on US Oil Will Continue
Friday, September 13, 2019Proven oil reserves in Mexico have collapsed from 50 billion barrels 20 years ago to just 8 billion barrels today.

Petrobras Ordered to Fuel Stranded Iranian Ships
Thursday, July 25, 2019A Brazilian top court justice ordered Petrobras to refuel two Iranian ships stranded off the country's coast after the state-controlled oil company refused to do so for fear of U.S. sanctions.

Chevron Becomes Texas Refiner
Thursday, May 02, 2019Petrobras had been the sole owner of the facility since 2008.

Petrobras Hires Transocean Drillships
Monday, March 11, 2019The total estimated firm backlog for both drillships amounts to more than $240 million.

8-Year Petrobras Contract Starts for TechnipFMC-DOF
Tuesday, February 19, 2019A joint venture of TechnipFMC and DOF Subsea owns the new flexible lay and construction vessel.

TechnipFMC Scores Brazil Subsea Contract
Wednesday, February 06, 2019Petrobras awarded the contract on behalf of the Libra Consortium.

Oil May Bring 400,000 Jobs and $258B in Investments to Brazil
Thursday, January 17, 2019The secretary general of the Brazilian Institute of Petroleum, Gas and Biofuels said that in the next few years, the oil industry will bring more jobs and investments to Rio de Janeiro.

Petrobras Sells Rights in 37 Oilfields for $823MM
Wednesday, November 28, 2018Brazil's state-controlled oil company is selling its stakes in dozens of oilfields for $823 million.

Brazil Subsea Pipeline Project Goes to McDermott
Wednesday, November 21, 2018Petrobras has awarded McDermott an EPCI contract for the ultra-shallow segment of its Rota 3 natural gas export pipeline.

Petrobras FPSO Achieves First Oil
Wednesday, October 24, 2018The Petrobras-operated FPSO P-69 is now producing at the Lula Extrema South in Brazil's offshore Santos Basin.

Murphy Oil and Petrobras to Form Gulf of Mexico JV
Thursday, October 11, 2018The companies have entered into a joint agreement to combine both companies' Gulf of Mexico assets.

Offshore Brazil Contract Extension Goes to Transocean
Friday, September 28, 2018Transocean has won a 790-day contract extension from Petrobras.

Union: Petrobras Plans To Start Reopening Replan Refinery In 48 Hours
Wednesday, August 22, 2018Petrobras may begin procedures to reopen its largest refinery.

Brazil's Petrobras Sees No Fuel Supply Shortage After Replan Fire
Monday, August 20, 2018A fire at the company's largest Sao Paulo refinery is not expected to compromise fuel supplies in the short run.

Petrobras Suspends Asset Sales After Court Decision About Privatization
Tuesday, July 03, 2018Petrobras suspends some asset sales after a Supreme Court decision ruled privatization processes must be approved by the nation's Congress.

Adviser: Leftist Presidential Hopeful Would End Brazil Oil Refining Monopol
Wednesday, June 13, 2018The leading leftist candidate in Brazil's presidential race, Ciro Gomes, would end the refining monopoly of Petrobras, a senior adviser says.

Petrobras CEO Resigns as Strikes Take Down Market Favorite
Friday, June 01, 2018Pedro Parente resigns as Petrobras chief executive officer.

Petrobras, Engie Extend Period To Negotiate Contract Of Pipeline Network
Friday, June 01, 2018Petrobras extends the deadline for discussion with Engie about the sale contract for a major pipeline network, sources say.

Sources: Petrobras Pricing Pressure Spooks Potential Refinery Buyers
Thursday, May 24, 2018A surprise decision by Petrobras to cut diesel prices in response to truckers' protests is worrying some potential buyers.

Report: Petrobras CEO Sees Possible Rise In Capital Spending
Friday, May 18, 2018Petrobras may raise its capital expenditure program.

CEO: Brazil's Braskem To Talk New Naphtha Contract With Petrobras
Thursday, May 10, 2018Braskem will soon start to negotiate a long-term contract to buy naphtha from its shareholder Petrobras.

Petrobras' Profit Jumps On Asset Sales, Higher Oil Prices
Tuesday, May 08, 2018Petrobras reports a 57% surge in quarterly profit.

Brazil's Petrobras Starts Binding Phase Of Pasadena Refinery Sale
Friday, May 04, 2018Petrobras is starting the binding phase of the sale of its Pasadena, Texas-based refinery.

Petrobras Is Said to Receive Three Bids for Natural Gas Unit
Friday, April 20, 2018etrobras has received three bids for a 2,800-mile (4,506 kilometer) natural gas pipeline system, said people knowledgeable on the matter.

Petrobras Refining Partnership Deals Likely Only in 2019 - CEO
Thursday, April 19, 2018Petrobras has also unveiled a model for future partnerships in refining.

Petrobras To Invest 137 Million Reais Iin Sao Paulo Refinery
Thursday, March 08, 2018Petrobras says it will invest 137 million reais this year in the Presidente Bernardes refinery.

Petrobras Chief Says US Refinery Sale Ongoing, No Plans To Build Elsewhere
Monday, March 05, 2018Petrobras is continuing with its efforts to sell a Pasadena, Texas oil refinery and has no plans to build another plant.

Petrobras to Sell Pasadena, Texas, Refinery
Tuesday, February 06, 2018Petrobras said it had started taking steps to sell its refinery in Pasadena, Texas, an installation ensnared in Brazil's largest corruption scandal.

Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects
Thursday, December 14, 2017ExxonMobil and Petrobras form an alliance to develop energy projects around the world.

Natural Gas In Petrobras Pipelines Up About 23% In 2017
Tuesday, December 05, 2017The supply of natural gas in Petrobras' pipeline network likely grew about 23% this year.

Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO
Wednesday, November 15, 2017Petrobras CEO Pedro Parente said he will meet this month with the CEO of China National Petroleum Corp.