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Petrobras announces record $11 billion bond issue

Agence France-PresseMay 14, 2013 12:04
Brazilian oil giant Petrobras announced an $11 billion bond issue Tuesday, a record for an emerging country company. The state-controlled company, which already carries a huge debt load, is raising funds for its $237 billion five year investment program, including the development of deep water oil fields off the coast of Brazil. This year alone, Petrobras plans to take on $20 billion in debt, its financial director said recently.

Exclusive - Petrobras said to auction $5 billion of Nigeria oil assets

March 27, 2013 07:01
By Denny Thomas and Joe Brock HONG KONG/ABUJA (Reuters) - Brazilian oil company Petrobras <PETR4.SA> is to auction off its stakes in Nigerian oil fields to raise cash for domestic projects, a deal that may fetch up to $5 billion (£3.3 billion pounds), sources close to the deal said. The state-controlled company, formally known as Petroleo Brasileiro SA, has hired Standard Chartered <STAN.L> to run the process, which will kick off in the next two months, banking and oil industry sources said.

Petrobras deepwater oil output to reach 52% in 2020

March 18, 2013 11:47
Brazil's state-run energy giant Petrobras expects more than half of its crude oil output in 2020 to come from huge deepwater fields, according to its president Graca Foster. In an interview aired Sunday, Foster said Petrobras was currently extracting 300,000 barrels a day (bpd) from the so-called pre-salt reserves, located at a depth of 6,000 meters (19,000 feet) under a thick layer of salt. She told TV Brazil that in 2020, production will reach 4.2 million bpd and that 52 percent would come from the pre-salt fields.

Petrobras says oil slick discovered off Brazil's coast

March 3, 2013 22:16
Rio de Janeiro, Mar 2 (EFE).- Brazilian state-controlled oil company Petrobras said it discovered a 108-liter (28-gallon) oil leak off the coast of the southeastern state of Rio de Janeiro. In a statement Friday, Petrobras said it had identified the "crude slick, the first signs of which were spotted (Thursday)." The spill occurred at the Marlim field in the northeastern portion of the Campos Basin, 172 kilometers (105 miles) off the coast of the city of Macae.

Petrobras chief warns government over rising debt levels -paper

February 9, 2013 11:30
* Debt heading to 3.5 times EBITDA * Low Brazil fuel prices hurting firm SAO PAULO, Feb 9 (Reuters) - The chief executive of Brazil's state-led oil company Petroleo Brasileiro SA warned the government about rising debt levels that may jeopardize the firm's investment grade credit rating, a Sao Paulo newspaper reported on Saturday.

Petrobras CEO warns of 'difficult' 2013

February 5, 2013 14:47
The chief executive of Brazil's state-run oil giant Petrobras, Maria das Gracas Foster, warned Tuesday that the company faces erratic output this year due to platform maintenance. "2013 is going to be a more difficult year than 2012," Foster said in a news conference to discuss the company's earnings. Most of the difficulties will come in the first half of the year, she said, because "we are shutting down platforms" for maintenance. The situation will be reversed in the second half of the year and production will be increased thanks to six new platforms, she explained.

Brazil's Petrobras says 2012 net earnings down 36%

February 4, 2013 21:15
Brazil's state-run energy giant Petrobras said Monday that its net earnings fell 36 percent in 2012 from the year before -- the lowest result since 2004. Net earnings amounted to 21 billion reais, or $10.86 billion based on the average exchange rate for 2012, Petrobas said in a statement released after markets closed. It cited the depreciation of the real, higher fuel imports and operational costs as the reason for the drop in full-year net earnings. The local consultancy Economatica said it was the lowest profit figure since 2004.
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