13.37 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||13.35 x 27000|
|Ask||13.39 x 4000|
|Day's Range||13.09 - 13.40|
|52 Week Range||10.79 - 15.75|
|Beta (3Y Monthly)||0.03|
|PE Ratio (TTM)||18.22|
|Forward Dividend & Yield||0.52 (3.94%)|
|1y Target Est||17.84|
(Bloomberg) -- Brazil’s efforts to uncover the origin of oil washing up on more than 130 beaches along its pristine northeastern coastline are pointing to Venezuela as the likely culprit.Brazilian Environment Minister Ricardo Salles on Wednesday said that a report from Brazil’s state-controlled oil company Petroleo Brasileiro SA indicates that the oil originated from Venezuela, a country suffering an economic crisis after years of mismanagement and widespread corruption.Rio de Janeiro-based Petrobras said that molecular studies of the spilled oil show it wasn’t produced in Brazil or sold by the company, and didn’t confirm or deny the origin of the crude.“This oil that is arriving, very probably is from Venezuela,” Salles told lawmakers during a hearing. “It is oil that comes from a foreign tanker navigating close to Brazil’s coast.”Petrobras Chief Executive Officer Roberto Castello Branco said on Tuesday that about 500 barrels were spilled, which means it wasn’t simply from an oil tanker that was being cleaned. He said that it could have come from an oil tanker that sank, an accident when loading oil from one tanker to another, or from a criminal act.The oil spill is putting Brazil back in the spotlight for environmental disasters. A surge in fires in the Amazon rainforest in August sparked an international backlash against President Jair Bolsonaro, a social conservative who supports developing natural resources in the Amazon. Two massive mining waste dams have collapsed since 2015, claiming hundreds of lives and polluting waterways in several states.Brazil first started noticing the oil on Sept. 2 and began cleanup efforts and investigations into the cause, including a criminal probe by federal police, according to the Ibama environmental agency.To contact the reporter on this story: Peter Millard in Rio de Janeiro at email@example.comTo contact the editors responsible for this story: Tina Davis at firstname.lastname@example.org, Carlos Caminada, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Creditors of Brazilian oil platforms and rigs maker Sete Brasil have approved the sale of four oil exploration rigs to British company Magni Partners, two sources familiar with the deal told Reuters on Friday. The four rigs have a 10-year leasing contract with Petrobras , which will pay $299,000 per day for each rig when operational, one of the sources said. A representative of Magni Partners could not immediately be reached for comment.
Brazilian state-run oil firm Petrobras has in the last five years battled an epic corruption probe, a crippling recession and unsteady crude prices. Now, Brazil's most important company is facing yet another challenge: thieves are robbing millions of dollars worth of its fuel to sell on a thriving black market. Theft from Petrobras pipelines soared to a record high 261 incidents in the states of Rio de Janeiro and Sao Paulo last year, up from just one case in 2014, according to an August securities filing and statements made to Reuters by representatives of Petroleo Brasileiro SA , as the company is formally known.
The weekend attacks on vital oil infrastructure in OPEC’s largest producer and the world’s top oil exporter Saudi Arabia could be a boon to Brazil
Brazilian President Jair Bolsonaro and Petrobras said on Monday the oil firm was not planning to immediately raise fuel prices in response to the attack in Saudi Arabia, showing the state-run firm may be open to overlooking market pricing norms for now. In an interview with Brazil's Record TV, Bolsonaro said he was told by Petrobras Chief Executive Roberto Castello Branco that while fuel prices set by the firm tend to follow international prices, the recent rise in oil prices was "atypical".
RIO DE JANEIRO/BRASILIA (Reuters) - The chief executive of a natural gas pipeline unit of Brazilian state oil firm Petrobras has been removed, the company told Reuters on Thursday, after a middleman in a graft scheme implicated him in plea bargain testimony. Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which operates a 1,610-mile pipeline transporting natural gas from Bolivia to Brazil, said its board approved the removal of Ivan de Sá on Wednesday at the request of Petrobras, its majority shareholder. TBG did not state the reason for his removal, nor offer any further details.
BRASILIA/RIO DE JANEIRO (Reuters) - A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global energy trading firm Vitol in a bribery operation to obtain oil contracts, as well as two high-ranking executives at rival Trafigura and its former CEO, according to plea bargain testimony seen by Reuters. The individuals named in the previously unreported documents are Ian Taylor, the chairman of Vitol, as well as Claude Dauphin, the former chief executive and chairman of Trafigura. Trafigura co-head of oil trading José Larocca and chief operating officer Mike Wainwright were also implicated in the alleged scheme.
Brazil's influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatising state-owned oil company Petrobras , but stiff political opposition could stifle any effort to sell the country's corporate crown jewel. Petrobras, or Petroleo Brasileiro SA, was founded in 1953 by former president Getulio Vargas following a nationalist campaign that began in the 1940s with the anthem "The oil is ours". Selling the company would cap off the drive by Economy Minister Paulo Guedes, a Chicago school-trained economist and disciple of Thatcherite economics, to maximize privatisation, deregulation and free-market activity.
SAO PAULO/RIO DE JANEIRO (Reuters) - Brazil's planned privatisation of eight Petroleo Brasileiro SA refineries has lured several of the world's largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. Around 20 companies have signed non-disclosure agreements granting them access to the refineries' data and signalling that they are considering a bid, the sources added, speaking on condition of anonymity to disclose private details of the sale. The first round of non-binding offers for four of the eight refineries Petrobras put on the block is due on Oct. 11, the sources said.
Brazil’s government wants to privatize Petrobras by the end of its term, in 2022, Reuters reports, citing information from unnamed sources carried by Brazilian media
The global market for floating production, storage and offloading vessels is rebounding again, with as many as 24 new FSPO’s expected by 2020
Oil prices have had a tough start to the week as the trade war between China and the U.S. intensified and the Treasury Department labelled China a currency manipulator
Brazil’s state oil and gas major Petrobras, once the company with the biggest debt pile in the global oil and gas industry, booked the highest quarterly profit on record for the second quarter of 2019 on the back of asset sales
Brazilian state-run oil firm Petrobras is studying a mass transfer of employees out of its Transpetro logistics unit, according to a document seen by Reuters, in a sign the company may be gearing up to privatise additional assets. The human resources departments of Petroleo Brasileiro SA , as the company is formally known, and Transpetro are developing an "action plan for the evaluation and possible return of (employees) ceded to Transpetro from the parent company," according to the document, dated July 24. It is common at Petrobras for employees to be hired by the parent company and later transferred to a subsidiary.
SAO PAULO/RIO DE JANEIRO (Reuters) - 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 fertiliser. 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.