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Zacks News
Petrobras to Spend $6B on Retiring Offshore Platforms, Wells
by Zacks Equity Research
Petrobras (PBR) expects to gain $1 billion from 2020 asset sales after receiving the proceeds worth $14.4 billion from 2019 divestments.
Petrobras to Take Charge of 5 Blocks in Foz do Amazonas Basin
by Zacks Equity Research
Per Petrobras (PBR), its new role as an operator will enable it to extend its ownership of the fields to at least 50% and further stretch it to 70% if BP does not intend to grow its stakes in the fields.
Petrobras to Sell Its Stake in 2 Deepwater Campos Basin Fields
by Zacks Equity Research
Petrobras (PBR) is the sole owner and operator of the 455-square kilometer Albacora field and plans to sell its entire stake in the field.
Oil & Gas Stock Roundup: Devon-WPX Merger, TOTAL's Solar Push & More
by Nilanjan Choudhury
Devon Energy (DVN) and WPX Energy (WPX) agreed to combine in a bid to strengthen their Permian Basin position, while TOTAL (TOT) enters into a deal to develop 3.3 GW of solar projects in Spain.
Petrobras Finds Hydrocarbons in C-M-657 Block of Campos Basin
by Zacks Equity Research
Petrobras (PBR) is the chief operator of the C-M-657 block holding 30% interest and confirms the presence of hydrocarbons in carbonate reservoirs in the pre-salt section.
Can Oil Project Approvals Return to Pre-Coronavirus Level in 2022?
by Sayantika Bhattacharya
As a result of the coronavirus-induced ailing market condition, offshore commitments are now estimated to be $34 billion in 2020, reflecting a third of $101 billion reported in 2019.
Petrobras to Sell Off Its Fully-Owned Araucaria Fertilizer Firm
by Zacks Equity Research
Petrobras' (PBR) Araucaria fertilizer firm sell-off is in sync with its strategy to cut costs and improve capital allocation for boosting shareholder value.
Petrobras Slashes 2021-2025 E&P CapEx Guidance Amid Coronavirus
by Zacks Equity Research
Petrobras (PBR) projects nearly $40-$50 billion expense on exploration and production between 2021 and 2025 compared with the past guidance of $64 billion announced in the 2020-2024 strategic plan.
Petrobras Discovers High Productivity at Jupiter Oilfield
by Zacks Equity Research
Petrobras (PBR) plans to use Jupiter for testing new technology that splits carbon dioxide at the foot of the ocean and reinjects it into the rocks.
TOTAL (TOT) Steps Down as Operator in Foz do Amazonas Basin
by Zacks Equity Research
TOTAL (TOT) decides to discontinue as operator of the environmentally sensitive Foz do Amazonas Basin located in offshore Brazil.
Petrobras to Sell Off Polo Potiguar & Clara Camarao Assets
by Zacks Equity Research
Petrobras (PBR) begins the teaser phase of the oilfields' collective sale as Polo Potiguar along with the nearby Clara Camarao refinery???s divestment in the state of Rio Grande do Norte.
Oil & Gas Stock Roundup: Occidental's Land Deal, TOTAL's FID & More
by Nilanjan Choudhury
Occidental Petroleum (OXY) agreed to sell more than 5 million acres of land and mineral rights, while TOTAL (TOT) and its partners took the FID for the third phase of the Mero project in Brazil.
TechnipFMC (FTI) Clinches Major EPCI Contract From Petrobras
by Zacks Equity Research
The EPCI contract by the Libra Consortium strengthens the close ties of TechnipFMC (FTI) with Petrobras and enriches its capability in the pre-salt region, thereby expanding its base in Brazil.
Petrobras (PBR) to Sell Off Fazenda Belem Cluster Stake
by Zacks Equity Research
Petrobras (PBR) signs a letter of intent with Malaysian contractor MISC to provide a floating production storage and an offloading facility (FPSO), which will be installed in the giant Mero field.
TOTAL and Partners Launch Phase 3 of Mero Field in Brazil
by Zacks Equity Research
TOTAL (TOT) along with its partners announces the launch of Phase 3 of the Mero project, which is set to come online in 2024 and has a liquid processing capacity of 180,000 barrels per day.
Petrobras (PBR) Q2 Loss Wider Than Expected on Oil Slump
by Zacks Equity Research
Petrobras' (PBR) average oil and gas production during Q2 reached 2,802 MBOE/d, up from 2,633 MBOE/d in the same period of 2019.
Petrobras Begins Decommissioning Campos Basin's P-12 Platform
by Zacks Equity Research
Petrobras (PBR) is set to decommission the P-07 and P-15 platforms in the Campos Basin alongside the FPSO Piranema in the Sergipe-Alagoas Basin in 2020.
Oil & Gas Stock Roundup: Shell & Exxon's Q2 Updates, BP's Divestment & More
by Nilanjan Choudhury
Royal Dutch Shell (RDS.A) and ExxonMobil (XOM) issued updates on their upcoming Q2 earnings, while BP plc (BP) agreed to sell its global petrochemicals business for $5 billion.
Petrobras (PBR) to Sell Off Its Fully-Owned Biofuel Unit
by Zacks Equity Research
Petrobras (PBR) is the sole owner of Petrobras Biocombustivel's stake and plans to sell 100% operating interest in the project along with a 100% stake held by the unit in three biodiesel plants.
Petrobras Draws Record June Fuel From Buzios Despite Coronavirus
by Zacks Equity Research
Petrobras' (PBR) gas sales surge in the May 10-16 time frame to touch 459,000 cubic meters from 146,000 cubic meters recorded in late March.
Petrobras Announces Initiation of Production at Atapu Field
by Zacks Equity Research
Petrobras' (PBR) oil and gas production at its Atapu field is being carried out using P-70 FPSO unit, which can produce 150,000 barrels of oil and nearly six million cubic meters of natural gas daily.
TOTAL (TOT) Boosts Output in Brazil With Second FPSO on Lara
by Zacks Equity Research
TOTAL's (TOT) oil output from Brazil is set to increase from the current level with the start-up of the second FPSO on Lara.
Petrobras to Sell Fully Owned Brazil's Shallow-Water Fields
by Zacks Equity Research
Petrobras' (PBR) plan to sell its stakes in the four offshore oil fields off the coast of Brazil's Ceara state is in line with its strategy to contain costs and boost capital deployment.
Oil & Gas Stock Roundup: BP's $17.5B Writedown, ConocoPhillips' Production Plans & More
by Nilanjan Choudhury
BP plc (BP) will take a $17.5 billion write-down in its second-quarter results, while ConocoPhillips (COP) said that it will restore its oil production on improving fundamentals.
Petrobras Clinches 5-Year Naphtha Supply Deal From Braskem
by Zacks Equity Research
Petrobras (PBR) intends to sell off its shares in Braskem under its $20-$30 billion divestment program for the 2020-2024 period.