Petrobras signs agreement to sell Petrobras Oil & Gas B.V.

Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (“PIBBV”) signed today a Sale and Purchase Agreement – “SPA”, related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (“PO&GBV”) to Petrovida Holding B.V., a company formed by the partners Vitol Investment

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Brazil’s Petrobras lifts restrictions on doing business with Odebrecht

Brazil’s state-run oil company Petróleo Brasileiro SA (PETR4.SA) has lifted restrictions on doing business with certain units of the engineering firm Odebrecht SA [ODBES.UL], Petrobras said in a securities filing on Friday. Petrobras’ board of directors approved the measure at a board meeting on Thursday, the filing said. Odebrecht has been at the center of

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Brazil’s Petrobras likely to extend deadline in refineries sale

Brazil’s state-controlled oil company Petroleo Brasileiro may extend the deadline for potential bidders for a 60 percent stake in four refineries to sign non-disclosure agreements, a person with knowledge of the matter said. A ruling from Supreme Court Justice Ricardo Lewandowski this week requiring Congress to approve all sales programs of state-controlled companies threw up

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Total to boost its Nigeria output

French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at an industry event, adding that the increase will come from the development of the Egina Deep project. “Our plan is to maintain aggressive exploration and appraisal

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EGYPT: NOCs to repay all debts to IOCs by 2020 – El Molla

Egypt’s National Oil Companies (NOCs) will repay all debts owed to international partners before the end of 2019, oil minister Tarek El Molla has said. He added that the debt has fallen to $1.2 billion, which is half of NOC debt owed to International Oil Companies (IOCs) in 2010. The Oxford Institute for Energy Studies wrote in

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Total working to sustain Angolan oil production

Energy services company TechnipFMC said it would work alongside Total at a prospect the French supermajor said marked a new chapter offshore Angola. The French services company said it secured an engineering, procurement and construction contract in the deepwater Zinia field offshore Angola, a member of the Organization of Petroleum Exporting Countries. Total leads a

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More than 3 billion USD in debts owed to Angolan Oil Company

The Angola National Society of Fuels (Sonangol) estimates today in 3.1 billion dollars the debts contracted in 2017 by the public and private sectors. Only the State owes US $ 747 million as a result of fuel price subsidies, reported Sonangol sources during the First Expanded Consultative Council of the Ministry of Mineral Resources and

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