Shareholders of Brazilian state-run energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, approved a capital increase Tuesday, clearing the way for what’s expected to be one of the world’s largest-ever share offers. Shareholders granted the company’s request to increase capital by up to 150 billion Brazilian reals ($84.8 billion) via the sale of up [...]
Posts Tagged ‘oil’
Petrobras participates in the Amsterdam Global Conference on Sustainability
According to the website information euroinvestor.co.uk: The Brazilian company will present biofuels initiatives and a methodology to prepare sustainability reports Petrobras will showcase its experience in sustainability initiatives in the Amsterdam Global Conference on Sustainability and Transparency, from May 26 to 28, in Amsterdam, the Netherlands. The event is organized by the Global Reporting Initiative [...]
BP strikes 7 billion deal to explore oil offshore Brazil
UK energy giant BP has announced it is to enter the deepwater offshore Brazilian oil-exploration market by buying assets owned by US oil and gas producer Devon Energy in a deal valued at US$7bn. Under the terms of the deal, BP will acquire assets in Brazil which include interests in 10 exploration blocks in Brazil, [...]
Brazilian Petrobras makes new oil discoveries
Petrobras, Brazil’s state-owned oil and gas giant, announced it has just made two separate discoveries of oil in the Campos basin near the country’s coast, with recoverable reserves of 40 million and 25 million barrels. News of offshore discoveries is now a weekly occurrence as companies like Petrobras and OGX, owned by Brazilian billionaire Eike [...]
Has Brazil won a millionaire ticket?
An article in this week’s edition of The Economist commented on the destiny of Brazil’s most recent oil discoveries, which could be a curse or a “millionaire ticket” – as President Lula said –, if the resources are used wisely. The magazine highlighted the issues of pré-sal wealth are “nice problems to have”, once that [...]
Brazil Expands Investment in Offshore Drilling Projects
By ANDREW DOWNIE, The New York Times Published: January 24, 2009 SÃO PAULO, Brazil — Brazil’s state-controlled oil company, Petrobras, announced a crisis-busting investment plan Friday to spend more than $174 billion over the next five years, much of it for prodigious deep-water oil and gas exploration. The investment covers the 2009-2013 period and represents [...]
Biofuel in Brazil is not a dream, it is a reality
The Washington Post today compares the biofuel industry in the US and in Brazil. If on one side the American public opinion is in doubt about ethanol’s green credentials, the tecnology in Brazil has overcome all the obstacle and today produces a greener, cheap alternative to gasoline. The production of ethanol in the South American [...]