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 ‘Petrobras’
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 [...]
Petrobras starts manufacturing ethanol
With investments of US$85 millions, Brazilian state controlled Petrobras starts producing ethanol from sugar cane this month. It is the first time the oil giant invests in a domestic ethanol plant, which is located in the state of Minas Gerais, one of the largest producer of sugar cane in Brazil. The plant is part of [...]
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 [...]
Brazil girds for massive offshore oil extraction
State-run Petrobras is poised to become a major global player One of the Petrobras platforms By Juan ForeroWashington Post Foreign Service Everything about the shipyard here is colossal — the 4,000-man workforce, the billions sunk into it in capital costs, the half-finished 10-story-high production platforms. But then, so is the challenge facing Brazil’s state-controlled energy [...]
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 [...]
United States and Brazil sign agreement on biofuels
The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Petróleo Brasileiro S.A. (Petrobras) announced today that they have signed an agreement that could accelerate the development and international commercialization of biofuels. The announcement was made at the International Biofuels Conference in Sao Paulo, Brazil. The NREL/Petrobras agreement will help achieve the goals of [...]