Petrobras Will Not Hire Tankers That Visited Venezuela
Brazil’s Petroleo Brasileiro SA has told shippers it will not hire any tankers that have visited Venezuela in the past 12 months, the state-controlled oil company said on Friday, signaling adherence to U.S. sanctions on the Latin American nation.The United States this year blacklisted oil tankers and shipping companies over their dealings with Venezuela, seeking to drain oil revenues that sustain the rule of Venezuelan President Nicolas Maduro. Washington has said it could add to its sanctions list…
Petrobras' Oil Exports Hit New Record
Brazilian state-owned oil giant Petrobras said on Monday it exported a record 1 million barrels of oil a day in April, beating the previous record of 771,000 barrels a day in December last year.In a securities filing, Petroleo Brasileiro SA, as the firm is formally known, said that it marked an increase of 145% over the same month a year ago.In the first four months of 2020, exports were up 25% on the same period last year, with 60% of them going to China, Petrobras said.Meanwhile…
Petrobras Eyes Restart at FPSOs Hit by Coronavirus
Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday.Petrobras Exploration and Production Director Carlos Alberto de Oliveira said operations at the Cidade de Santos should restart over the weekend, and operations at the Capixaba should restart within 10 days. Both are large ships known as FPSOs.Brazil's offshore oil industry has been hit hard by the novel coronavirus.
Petrobras Begins Halting Operations of 62 Platforms
Brazil's state-owned oil firm Petroleo Brasileiro SA said on Wednesday it had begun suspending operations of 62 shallow water platforms in the Campos, Sergipe, Potiguar and Ceara basins.Petrobras, as the company is known, had previously announced the shutdowns, which amount to a production cut of 23,000 barrels of oil per day. (Reporting by Rodrigo Viga Gaier; writing by Jake Spring; editing by Chris Reese)
Petrobras Idles Six Platforms in Campos Basin Due to Coronavirus
Brazil's state-run oil company Petroleo Brasileiro SA said in a letter to the workers union on Thursday that it will idle six oil and gas platforms in five fields of the Campos basin due to the coronavirus epidemic.The company said the idling was aimed at reducing costs in the middle of the crisis hitting the oil industry, the letter seen by Reuters said.It comes at a time when Petrobras is trying to adapt to the new scenario of oil prices that have fallen about 50% this year due to the retreat in demand during the pandemic and the price war sparked by Russia and Saudi Arabia.The letter dated
Petrobras Ships Avoiding Strait of Hormuz
Brazil's state-controlled oil company Petroleo Brasileiro SA has ordered its ships to avoid the Strait of Hormuz, it said in a statement.Petrobras, as the company is known, says the decision, which was taken after consultations with Brazil's Navy, will not affect fuel supply in Brazil.(Reporting by Luciano Costa Editing by Chizu Nomiyama)
Maersk, Tide Maritime Targeted in Petrobras Probe
Brazilian authorities on Wednesday targeted Maersk and other companies for allegedly paying bribes to get an edge in securing shipping contracts with state oil firm Petroleo Brasileiro SA, in the latest phase of a sprawling graft probe.Federal prosecutors said in a statement that Denmark's Maersk, the world's largest shipping company, was involved in allegedly paying $3.4 million in bribes related to 11 shipping contracts with Petrobras, worth 592 million reais ($141.07 million).Maersk was not immediately able to comment when contacted by Reuters.
SHI to Pay $75m in Fine: US Justice Dept
South Korean shipbuilder Samsung Heavy Industries Co. (SHI) has agreed to pay $75 million in penalties to avoid prosecution in the United States over its scheme to pay millions of dollars in bribes to Brazilian officials to win a contract.“Samsung Heavy Industries paid millions of dollars to a Brazilian intermediary, knowing that some of that money would be used to bribe high-level executives at Petrobras and obtain a lucrative shipbuilding contract,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division.
Keppel, Sembcorp Reach Deal with Embattled Brazil Firm
Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras), filed for bankruptcy protection in 2016 after being engulfed in a massive corruption scandal.Keppel and Sembcorp Marine are among a host of firms caught up in the wide-ranging "Car Wash" investigation.
Brazil Court orders Petrobras to Refuel Iran Vessels
Brazil's top court on Thursday ordered state-run oil company Petroleo Brasileiro SA to refuel two Iranian grain vessels stranded on the Brazilian coast due to U.S. sanctions holding up sales of fuel needed for their return trips.Chief Justice Dias Toffoli overturned a lower court ruling that allowed Petrobras, as the oil major is known, to refrain from fueling the vessels.Petrobras had denied service, citing the risk of consequences from U.S. sanctions. However, the risk is reduced if it is simply obeying a Supreme Court ruling…
Iran Grain Ships Stranded in Brazil due to U.S. Sanctions
Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States.The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertilizer. They were expected to load corn and return to Iran, but lacked enough fuel for the trip, the port operator in Paranaguá told Reuters.Food is not covered by U.S. sanctions, and Iran is one of the largest buyers of Brazil's agricultural commodities, importing more than 2.5 million tonnes of Brazilian corn so far this year — more than any other country.However, that trade is not usually carried by ships flying the Iranian flag.
Brazil Searches Sembcorp Yard in Graft Probe
Singaporean rig builder Sembcorp Marine said on Wednesday that authorities had searched its shipyard in Brazil as part of a graft investigation, sending its shares lower and underlining the staying power of Brazil's ongoing "Car Wash" corruption probe.Sembcorp Marine said the search was related to investigations against former consultant Guilherme Esteves de Jesus, adding that Martin Cheah Kok Choon, the former president of the Estaleiro Jurong Aracruz shipyard, was also under investigation.In a separate statement…
Petrobras Sells TAG, Gets $8.7 bln
Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement Du Quebec (CDPQ).According to a stock exchange annoucement, Petrobras received a total of 33.5 billion reais ($8.69 billion) from buyers on Thursday for the 90 percent stake it had in TAG.Petrobras will continue to use natural gas transportation services rendered by TAG…
Petrobras Takes Two of Six Port Terminals in Brazil Auction
Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450 million reais ($117 million) in the auction of the terminals — five in the Miramar port in the city of Belem and one in the Vila do Conde port in the city of Barcarena.The rights to operate the terminals are the latest in a slew of assets Brazil is selling as part of its drive to shore up public finances and reduce a gaping budget deficit.In an auction broadcast online, Petrobras Distribuidora SA - also known as BR Distribuidora - won a 20-year lease on a terminal in the port of Miramar with a bid of 50 million reais ($12.94 million).Petrobras Transpo
DOF Bags Three ROV Contracts in Brazil
Norwegian supply shipping company DOF Subsea has been awarded contracts for three remotely operated (ROV) Support Vessels (RSV) with Petroleo Brasileiro S.A. (Petrobras).All contracts have a firm duration of three years and can be extended for another two years, informed the offshore support vessel owner.The vessels allocated for the contracts are Skandi Commander, Skandi Olympia and Skandi Chieftain, all owned by DOF Rederi AS (100 % owned by DOF ASA).Each vessel will be equipped with two state of the art work class ROVs owned and operated by DOF Subsea Group.
Vitol Bribery Case: Prosecutors Charge 12
Brazilian federal prosecutors on Thursday charged 12 people in connection with an alleged bribery scheme meant to benefit the giant oil trader Vitol SA at the expense of Brazil's state-led oil firm Petroleo Brasileiro SA.Those charged include former Petrobras employees and middlemen who prosecutors allege worked directly with top executives at Vitol. Calls to Vitol's Rio de Janeiro office rang unanswered on Thursday. Last week the company told Reuters it would work with investigators, and that it had a zero-tolerance policy on corruption. (Reuters reporting by Brad Brooks; editing by Jonathan Oatis)
Petrobras, Murphy to Explore in GoM
Brazil's state-controlled Petroleo Brasileiro SA (Petrobras) said on Monday it had sealed a joint venture with Murphy Exploration & Production Company to explore oil and gas fields in the Gulf of Mexico, according to a securities filing.Petrobras received $795 million for the deal, and will have a 20 percent stake in the venture.Reporting by Carolina Mandl
Petrobras Receives $149 Mln from SBM in Leniency Deal
Brazilian state-run oil company Petroleo Brasileiro SA has received an initial payment of 549 million reais ($148.92 million) from Dutch marine engineering group SBM Offshore as part of a 1.22 billion-real leniency deal, the Brazilian government said on Monday.As a result of a long-running corruption investigation, SBM was accused of paying bribes to secure contracts with Petrobras, as the state-controlled oil company is known.($1 = 3.6866 reais)(Reporting by Alexandra Alper; editing by Jonathan Oatis)
Petrobras to Resume Building Its Own Platforms
Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.Petrobras' 2019-2023 business plan, set to be released in December, should include a resumption of platform construction thanks to the company's improving finances, Petrobras' director for production and technology development Hugo Repsold said."We will build platforms independently of who is president…
SBM Offshore to Pay Additional Fines to Petrobras
SBM Offshore has reached a settlement to pay additional leniency fines of 200 million reais ($48.27 million) to Brazil's state oil company Petroleo Brasileiro SA, Brazilian prosecutors said on Wednesday.As a result of a long-running corruption investigation, the Dutch marine engineering group SBM has agreed to pay a total of 1.4 billion reais in fines and compensations for its role in the scandal.
Petrobras Output in Campos Drops to Lowest Level in 17 Years
Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data.Output has dropped 15.8 percent in 12 months due to the ageing of fields off-shore from Rio de Janeiro and Espirito Santo that account for almost half of the crude pumped by Petrobras.
Fall from Grace: Batista Gets 30-Years for Corruption
Eike Batista, the former mining and oil magnate who was once Brazil's richest man, was convicted and sentenced to 30 years in prison for bribing Rio de Janeiro state's disgraced ex-governor, according to a court document published on Tuesday.Batista's conviction and sentencing by federal judge Marcelo Bretas are the latest in a wave of graft investigations that have sent scores of powerful businessmen and politicians to jail.The eccentric former billionaire's meteoric rise and fall mirrored the recent fortunes of Brazil, where the commodities boom faded as his energy, mineral and logistics empire fell apart earlier this decade.His swashbuckling attitude and confident forecasts of a prolonged golden era for Brazil evaporated just as Latin America's largest economy suffered its worst recessi
Petrobras CEO Parente Resigns
Petroleo Brasileiro SA's chief executive quit on Friday in a surprise move that wiped $12 billion off the state-controlled oil producer's market valuation, after Brazil's government responded to a national trucking strike by intervening in the company's fuel pricing policy.Pedro Parente, who in two years in the job had succeeded in slashing the scandal-plagued company's debt and restoring it to profitability, said in a resignation letter to President Michel Temer it was clear after the last week's turmoil that new talks would be needed on pricing policy."Given this situation…