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Last $8.88 USD
Change Today +0.51 / 6.09%
Volume 25.6M
PBR On Other Exchanges
New York
New York
Sao Paulo
Sao Paulo
As of 3:31 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

petroleo brasileiro-spon adr (PBR) Key Developments

Petrobras Denies Report Of BR Stake Sale

Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) said its divestment programme did not include the disposal of a stake in Petrobras Distribuidora S.A. (BR) on May 29, 2015. The statement was issued in response to a report in Brazilian daily newspaper O Globo, which said Petrobras was looking to sell between 10% and 30% of its service station network. In the first official denial of reports dealing with its divestment plan, Petrobras said it had made no such decision regarding BR.

Petrobras Reportedly May Sell Assets In Gulf Of Mexico

Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) is looking to sell some assets in the Gulf of Mexico local daily Folha de S Paulo reported. Petrobras hired BNP Paribas to study a possible sale of its stake in off-shore oilfields in the region said the newspaper, without citing sources.

Petrobras Announces Drilling Results of the Second Well in Carcar Area at Santos Basin S Ultra-Deep Waters

Petrobras informed that the drilling of the second well in Carcar area (Block BM-S-8), located at Santos Basin s ultra-deep waters, confirmed the light oil potential in pre-salt's reservoirs. The well 3-SPS-105 (Petrobras nomenclature), informally known as Carcar North, is located in the area of Discovery Evaluation Plan of the discovery well 4-SPS-86B (4-BRSA-971B-SPS - Carcar), 4.6 km north of this well, at water depths of 2.072. The new well has proved the presence of good quality oil (31 API), also in carbonate reservoirs of excellent quality, located below the salt layer, at 5,820 meters depth. The well, still under drilling inside the oil column, has reached 6.178 meters depth so far, finding a significant oil column of 352 meters in continued and connected reservoirs. The pressure data obtained in such showed that it is the same accumulation of the discovery well. A formation test is expected at the end of the drilling to evaluate the reservoirs productivity. This year the consortium also expects the resume of the drilling of well 3-SPS-104DA (3-BRSA-1216DA-SPS Carcar Northwest), continuing the scheduled operations under the Discovery Evaluation Plan.

Petrobras Is Reportedly Selling Stakes In Six Offshore Block

Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) is reportedly selling stakes in six offshore blocks as part of its multibillion-dollar divestment program. Petrobras hopes to raise more than $4 billion for the assets in the Santos and Campos basins off Brazil's southeast coast, according to a report in the Folha de S. Paulo newspaper. Five of the blocks said to be on offer are in the pre-salt layer: Pão de Açucar, Jupiter, Carcará, Sagitário and another unnamed area. The only post-salt block available is Tartaruga Verde. Petrobras was not immediately available for comment on May 26, 2015, reprted Business News Americas. Petrobras is understood to be seeking to part with up to 30% of its interest in the pre-salt blocks while maintaining its status as operator. The areas have only been offered to major oil firms like Exxon Mobil Corporation (NYSE:XOM), Royal Dutch Shell plc (ENXTAM:RDSA) and Statoil ASA (OB:STL), who have been given access to geographical data, the newspaper said.

Petrobras Rescinds Schahin Rig Deals Worth $5 Billion

Petrobras has rescinded contracts worth about $5 billion with l Grupo Schahin. Petrobras is also requesting $500 million in compensation for the halting of Schahin's rig operations in April 2015.


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