Petrobras http://www.globalpost.com/taxonomy/term/30101/all en Brazil's Petrobras says 2012 net earnings down 36% http://www.globalpost.com/dispatch/news/afp/130204/brazils-petrobras-says-2012-net-earnings-down-36-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>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.</p> <p>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.</p> <p>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.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/brazils-petrobras-says-2012-net-earnings-down-36-0" target="_blank">read more</a></p> Matter Petrobras Petrobras Soft matter AFP Tue, 05 Feb 2013 01:15:49 +0000 5745911 at http://www.globalpost.com Petrobras CEO warns of 'difficult' 2013 http://www.globalpost.com/dispatch/news/afp/130205/petrobras-ceo-warns-difficult-2013 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>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.</p> <p>"2013 is going to be a more difficult year than 2012," Foster said in a news conference to discuss the company's earnings.</p> <p>Most of the difficulties will come in the first half of the year, she said, because "we are shutting down platforms" for maintenance.</p> <p>The situation will be reversed in the second half of the year and production will be increased thanks to six new platforms, she explained.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130205/petrobras-ceo-warns-difficult-2013" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Petrobras Petrobras AFP Tue, 05 Feb 2013 18:47:05 +0000 5746747 at http://www.globalpost.com Petrobras chief warns government over rising debt levels -paper http://www.globalpost.com/dispatch/news/thomson-reuters/130209/petrobras-chief-warns-government-over-rising-debt-levels-paper <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Debt heading to 3.5 times EBITDA</p> <p>* Low Brazil fuel prices hurting firm</p> <p>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.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130209/petrobras-chief-warns-government-over-rising-debt-levels-paper" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Economy of Brazil Petrobras Petrobras Petroleo Brasileiro SA Thomson Reuters Sat, 09 Feb 2013 15:30:17 +0000 5751022 at http://www.globalpost.com Petrobras says oil slick discovered off Brazil's coast http://www.globalpost.com/dispatch/news/agencia-efe/130303/petrobras-says-oil-slick-discovered-brazils-coast <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>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.</p> <p>In a statement Friday, Petrobras said it had identified the "crude slick, the first signs of which were spotted (Thursday)."</p> <p>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.</p> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130303/petrobras-says-oil-slick-discovered-brazils-coast" target="_blank">read more</a></p> Campos Basin Disaster Geography of Brazil oil Petrobras Petrobras Agencia EFE Mon, 04 Mar 2013 02:16:03 +0000 5772454 at http://www.globalpost.com Petrobras deepwater oil output to reach 52% in 2020 http://www.globalpost.com/dispatch/news/afp/130318/petrobras-deepwater-oil-output-reach-52-2020 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>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.</p> <p>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.</p> <p>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.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130318/petrobras-deepwater-oil-output-reach-52-2020" target="_blank">read more</a></p> Economy of Brazil Energy Petrobras Petrobras AFP Mon, 18 Mar 2013 15:47:08 +0000 5786903 at http://www.globalpost.com Exclusive - Petrobras said to auction $5 billion of Nigeria oil assets http://www.globalpost.com/dispatch/news/thomson-reuters/130327/exclusive-petrobras-said-launch-5-billion-nigerian-oil-block-sa <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Denny Thomas and Joe Brock</p> <p>HONG KONG/ABUJA (Reuters) - Brazilian oil company Petrobras &lt;PETR4.SA&gt; 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.</p> <p>The state-controlled company, formally known as Petroleo Brasileiro SA, has hired Standard Chartered &lt;STAN.L&gt; to run the process, which will kick off in the next two months, banking and oil industry sources said.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130327/exclusive-petrobras-said-launch-5-billion-nigerian-oil-block-sa" target="_blank">read more</a></p> Business Energy oil Petrobras Petrobras Petroleo Brasileiro SA Petroleum Technology Thomson Reuters Wed, 27 Mar 2013 11:01:24 +0000 5795163 at http://www.globalpost.com Petrobras announces record $11 billion bond issue http://www.globalpost.com/dispatch/news/afp/130514/petrobras-announces-record-11-billion-bond-issue <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Brazilian oil giant Petrobras announced an $11 billion bond issue Tuesday, a record for an emerging country company.</p> <p>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.</p> <p>This year alone, Petrobras plans to take on $20 billion in debt, its financial director said recently.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130514/petrobras-announces-record-11-billion-bond-issue" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Petrobras Petrobras Technology AFP Tue, 14 May 2013 16:04:57 +0000 5837592 at http://www.globalpost.com Petrobras guarantees fuel supplies despite import ban http://www.globalpost.com/dispatch/news/agencia-efe/130615/petrobras-guarantees-fuel-supplies-despite-import-ban <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Rio de Janeiro, Jun 14 (EFE).- Brazilian state-controlled oil company Petrobras said Friday there was no risk of fuel shortages even though the company is temporarily barred by court order from importing gasoline or diesel.</p> <p>A court this week informed the company, which in recent months has been increasing its fuel imports to meet growing demand, that it was barred from all import and export operations until it pays 7.3 billion reais (some $3.7 billion) in back taxes.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130615/petrobras-guarantees-fuel-supplies-despite-import-ban" target="_blank">read more</a></p> Energy Petrobras Petrobras Rio de Janeiro Agencia EFE Sat, 15 Jun 2013 14:50:41 +0000 5857520 at http://www.globalpost.com Judge authorizes Petrobras to operate in int'l markets http://www.globalpost.com/dispatch/news/agencia-efe/130615/judge-authorizes-petrobras-operate-intl-markets <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Brasilia, Jun 15 (EFE).- A Brazilian judge provisionally suspended a ruling that had barred Petrobras from carrying out import and export operations due to an outstanding tax obligation totaling some 7.3 billion reais ($3.7 billion).</p> <p>The Superior Court of Justice, or TSJ, on Monday invalidated a Certificate of Good Standing that a lower-court judge had provisionally granted the company and which, until then, had allowed it to conduct import and export transactions while fighting the tax dispute in court.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130615/judge-authorizes-petrobras-operate-intl-markets" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Petrobras Petrobras Agencia EFE Sat, 15 Jun 2013 20:00:57 +0000 5857627 at http://www.globalpost.com Petrobras' 1st-half profit up due to higher fuel prices, increased demand http://www.globalpost.com/dispatch/news/agencia-efe/130810/petrobras-1st-half-profit-due-higher-fuel-prices-increased-demand <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Rio de Janeiro, Aug 10 (EFE).- Higher fuel prices granted by the government in recent months and increased domestic demand enabled state-controlled Brazilian oil company Petrobras to post a 77 percent increase in net income in the first half of 2013.</p> <p>Petrobras, one of the world's fastest-growing oil companies, said Friday it posted net income of 13.9 billion reais (some $6.1 billion) in the first six months of the year, up from 7.9 billion reais (some $3.4 billion) in the same period of 2012.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130810/petrobras-1st-half-profit-due-higher-fuel-prices-increased-demand" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Gasoline and diesel usage and pricing Petrobras Petrobras Agencia EFE Sat, 10 Aug 2013 17:02:01 +0000 5906959 at http://www.globalpost.com Petrobras mum about reported end of refinery JV with PDVSA http://www.globalpost.com/dispatch/news/agencia-efe/130924/petrobras-mum-about-reported-end-refinery-jv-pdvsa <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Rio de Janeiro, Sep 24 (EFE).- Brazilian state-controlled energy company Petrobras refused to comment Tuesday on a press report indicating it had pulled out of a refinery joint venture with Venezuelan state oil firm PDVSA that dates back to 2005.</p> <p>"Petrobras won't comment on the matter for now," a company spokesperson told Efe, refusing to confirm or deny a story published Tuesday by Brazilian financial daily Valor Economico.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130924/petrobras-mum-about-reported-end-refinery-jv-pdvsa" target="_blank">read more</a></p> Business Companies listed on the New York Stock Exchange Petrobras Petrobras Petróleos de Venezuela Technology Agencia EFE Tue, 24 Sep 2013 18:17:09 +0000 5943412 at http://www.globalpost.com Brazil's Petrobras announces new oil find http://www.globalpost.com/dispatch/news/afp/130927/brazils-petrobras-announces-new-oil-find <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Brazil's oil giant Petrobras announced a new crude find Friday off the country's northeastern coast.</p> <p>"It's a nice find," the state-run company's president Graca Foster told reporters.</p> <p>Foster did not provide detailed production estimates, saying only that the discovery was "relevant."</p> <p>The find was located in the Sergipe-Alagoas Basin about 100 kilometers (62 miles) from the coast, Foster added in comments cited by the G1 news website. </p> <p>Last year, Petrobras produced an average of 1.98 million barrels per day, a figure it hopes to double by 2020.</p> <p>nr/vlk/oh</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> Companies listed on the New York Stock Exchange Petrobras Petrobras Technology AFP Sat, 28 Sep 2013 02:16:10 +0000 5947253 at http://www.globalpost.com Brazil's Petrobras in office closures http://www.globalpost.com/dispatch/news/afp/131007/brazils-petrobras-office-closures <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Brazilian state-owned energy giant Petrobras says it will close 38 offices abroad in order to concentrate focus on pre-salt activities forecast to double production by 2020.</p> <p>The company on Monday confirmed to AFP comments made to that effect by Petrobras CEO Graca Foster to energy digest Brazil Oil and Gas.</p> <p>A press spokeswoman told AFP: "We do not yet have details of the countries where the branches will be closed.</p> <p>"But 38 bureaux and enterprises does not mean 38 countries are affected -- there are countries with several," the spokeswoman said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131007/brazils-petrobras-office-closures" target="_blank">read more</a></p> Economy of Brazil Energy Petrobras Petrobras AFP Mon, 07 Oct 2013 21:16:33 +0000 5954460 at http://www.globalpost.com Second day of strike at Brazil's Petrobras http://www.globalpost.com/dispatch/news/afp/131018/second-day-strike-at-brazils-petrobras <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Workers walked off the job for a second straight day Friday at Brazil's state oil giant Petrobras to protest plans to open a major offshore oil field to foreign companies.</p> <p>Bidding on the coveted Libra oil field opens Monday with 11 firms vying for a share of production. But Petrobras workers are angry that foreign and private companies are involved.</p> <p>Union officials said some 90 percent of workers from operational units had heeded the strike call, adding there was "strong participation" from subcontracted and administrative staff.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131018/second-day-strike-at-brazils-petrobras" target="_blank">read more</a></p> Libra oil field oil Petrobras Petrobras Petroleum AFP Fri, 18 Oct 2013 21:18:56 +0000 5964918 at http://www.globalpost.com Petrobras to finish refinery alone after Venezuela talks fail http://www.globalpost.com/dispatch/news/agencia-efe/131026/petrobras-finish-refinery-alone-after-venezuela-talks-fail <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Rio de Janeiro, Oct 26 (EFE).- Brazilian state-controlled oil company Petrobras has confirmed that long-running negotiations to bring Venezuela on board as a joint-venture partner in the Abreu e Lima refinery have failed and that it will finish the project on its own.</p> <p>Petrobras said Friday in a regulatory filing that it had incorporated the company created to manage the refinery into its corporate structure after the talks with Venezuelan state-owned oil company PDVSA broke down.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/131026/petrobras-finish-refinery-alone-after-venezuela-talks-fail" target="_blank">read more</a></p> Companies listed on the New York Stock Exchange Petrobras Petrobras Petróleos de Venezuela Agencia EFE Sat, 26 Oct 2013 17:02:24 +0000 5971707 at http://www.globalpost.com