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Japan

US Equity Futures Largely Flat Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were largely flat pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were flat, and Nasdaq futures were 0.1% higher.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $103.82 per barrel and US West Texas Intermediate crude 2.5% higher at $97.77 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CEG$CSCO$PBR
Commodities

Brazil's Petrobras Achieves Multiple Q1 Production Records, Reduces Imports

Brazil's state-controlled oil company Petrobas (PBR) achieved average oil, natural gas and natural gas liquids of 3.23 million barrels of oil equivalent per day in Q1, rising 16.1% year over year and 3.7% sequentially, the company said in an earnings update.The increase was mainly thanks to a ramp-up of offshore floating, production and storage capacity in the Buzios, Mero, Marlim and Voador fields, Petrobras said.Productivity and operational efficiency increased in the quarter and there was a reduction in volumes lost due to maintenance shutdowns. Ten new wells started in Q1, seven of which were in the Campos Basin and three in the Santos Basin.Buzios field platforms hit an output record on March 20 of 1.04 million barrels and 12.4 million cubic meters of gas on March 25, the company said.The Mero field exceeded a milestone of 700,000 barrels of oil in a day after the start-up of a new well while platforms in Santos Basin hit a record 44.8 million cubic meters of gas export on March 28.Production on two wells connected to the P-78 platform has increased to about 100,000 barrels of oil per day after the start of gas injection.The P-79 platform was moored on Feb. 21 and has helped increase processing capacity of oil to 180,000 barrels per day and to compress 7.2 million cubic meters of gas. It will make it possible to increase gas supply to Brazil by up to 3 million cubic meters per day, the company said.Total operated production in Q1 2026 was 4.65 million boed, exceeding the Q3 prior record of 4.54 million boed, with total own production in Q1 2026 of 3.23 million boed up from Q3 2025's 3.14 million boed.In the ultra-deep subsalt areas, Petrobras-operated output was 4.01 million boed and own production within that was 2.66 million, both record levels.The company recorded a 6.7% increase in output of oil products versus Q4, 2025, to 1.82 million bpd. Of this, 68% were middle distillates, specifically diesel, jet fuel and gasoline. Higher output of these enabled a reduction of imports in the quarter, Petrobras said.Refining capacity utilization reached 95%, up six percentage points from Q4, 2025.Fuel exports rose 3.3% in the quarter with daily sales of 187,000 barrels per day during the period, the best performance since Q1, 2022.LPG production in Rio de Janeiro rose to 75,800 tons through the Comprida & Redonda Islands Terminal in March.There was record oil production throughput via Santos at 879,000 cubic meters of products handled at the pier, the largest volume since the early 2000. Fuel oil outflow was maximized at 402,000 cubic meters, Petrobras said.

$PBR
Research

Research Alert: Pbr Q1 Production: Fpso Ramp-ups Push Petrobras Production Up 16% Y/y

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Total production reached 3.23 MMboed in 1Q26, up 16.1% Y/Y, driven by FPSO ramp-ups in Buzios, Mero, Marlim and Voador fields. Pre-salt oil production increased 17.8% to 2,189 Mbpd, representing 85% of total oil output, while refining utilization reached 95%, up 6pp Q/Q with March hitting 97.4% (highest in over a decade). The strong operational performance reflects successful execution of the company's pre-salt development strategy and refining optimization initiatives. Oil products production rose 6.7% Q/Q to 1,816 Mbpd, with diesel up 7.4% and net exports increasing 1.3% to 852 Mbpd as imports declined 32.2%. We believe the company's strategic positioning benefits from geopolitical dynamics, with China comprising 62% of oil exports (up from 33% Y/Y), highlighting Brazil's role as a key supplier amid Middle East tensions. The 10 wells connected during the quarter and rapid P-78 gas injection timeline demonstrate operational efficiency in our view.

$PBR
Sectors

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index adding 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) rising 1.5%.The Philadelphia Oil Service Sector Index was shedding 0.1%, and the Dow Jones US Utilities Index was increasing 0.1%.In sector news, the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and its more expanded version, OPEC+, effective May 1, the Emirates News Agency reported.This comes as Iran's latest proposal to end the war in the Middle East has still not won President Donald Trump's backing, leaving the deadly conflict in a continuing state of deadlock, Reuters reported Tuesday, citing an unnamed US official.Front-month West Texas Intermediate crude oil jumped 3.9% to $100.09 a barrel, and the global benchmark Brent crude contract rose 2.5% to $110.97 a barrel. Henry Hub natural gas futures decreased 0.6% to $2.54 per 1 million BTU.In corporate news, Chevron (CVX) is in advanced talks to sell a portfolio of Asian assets to Eneos in a deal that could be valued at more than $2 billion, Bloomberg reported. Chevron shares climbed 1.9%.BP (BP) shares gained 1%. The company reported Q1 underlying replacement cost profit Tuesday of $1.24 per American depositary share, up from $0.53 a year earlier. Sales and other operating revenue for the quarter totaled $52.26 billion, up from $46.91 billion a year earlier. Analysts polled by FactSet expected $49.4 billion.Petrobras (PBR) shares rose 1.1%. The company said Monday it has agreed to acquire 100% of a portion of the Argonauta Field in the Campos Basin, which is currently owned by Shell (SHEL), ONGC, and Brava, for 700 million Brazilian reais ($140.1 million) and $150 million in cash. Shell shares were up 0.9%.

$BP$CVX$PBR$SHEL
Sectors

Sector Update: Energy Stocks Higher Pre-Bell Tuesday

Energy stocks were higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.4%.The United States Oil Fund (USO) rose 3.9%, while The United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was up 4.4% at $100.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.5% to $112.06 per barrel, and natural gas futures were 0.9% lower at $2.53 per 1 million British Thermal Units.BP (BP) stock was more than 2% higher before the opening bell after the company reported higher Q1 underlying replacement cost profit and sales.Shell (SHEL) shares were 2% higher in premarket activity after the company agreed to acquire Canadian energy firm ARC Resources in a transaction valued at about $16.17 billion.Petrobras (PBR) stock rose 1% before the opening bell after the company agreed to acquire 100% of a portion of the Argonauta Field in the Campos Basin, which is currently owned by Shell (SHEL), ONGC, and Brava, for 700 million Brazilian reais ($140.1 million) and $150 million in cash.

$BP$PBR$SHEL$UNG$USO$XLE
Equities

Petrobras Agrees to Acquire Stake in Offshore Campos Basin Oil Field

Petrobras (PBR) said Monday it has agreed to acquire 100% of a portion of the Argonauta Field in the Campos Basin, which is currently owned by Shell (SHEL), ONGC, and Brava, for 700 million Brazilian reals ($140.1 million) and $150 million in cash.Under the deal, the payment will be made in three installments, with 100 million reals upon closing; 600 million reals on Jan. 15 or at closing, whichever occurs later; and a final installment of $150 million two years after closing, the company said.The portion acquired includes an area of the offshore Argonauta oil field that holds 0.86% of the shared pre-salt Jubarte, the company said.Upon completion of the transaction, Petrobras will hold a 98.1% interest in Jubarte while the Brazilian government will maintain a 1.9% stake, the company said.

$PBR$SHEL
Commodities

Market Chatter: Brazil's Petrobras Eyes Another 18% Hike in Jet Fuel Prices in May

Petrobras (PBR), a Brazilian state-owned oil company, is set to raise the price of jet fuel sold to distributors by 18%, starting May 1, local newspaper Valor Economico reported on Friday, citing sources familiar with the matter.This comes just weeks after the company hiked jet fuel prices by 54.8% at the start of this month, citing surging global oil prices, amid the ongoing military conflict in the Middle East.The company tweaks its pricing for jet fuel on a monthly basis, based on global oil prices and currency exchange rates, according to a Reuters report.To help deal with the sharp rise in prices, the company has reportedly said that it would allow distributors to pay for the increase in installments.Petrobras did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$PBR
Commodities

Higher Crude Prices Could Unleash South American Output Surge, Rystad Energy Says

South America could unleash over 2 million barrels per day of new crude supply by the mid-2030s if prices hold near $100 per barrel, Rystad Energy strategists said in a note Monday, citing offshore developments in Brazil, Guyana, Suriname and a potential rebound in Venezuela.Rystad analysts said that the closure of the Strait of Hormuz has led to an upward revision of its 2026 Brent forecast to $89/bbl, up from $60/bbl in January, boosting government revenues across South America by an estimated $43 billion in 2026.Brazil's Petrobras (PBR) is set to benefit most, with revenues projected to rise to $13.1 billion under the new price outlook."South America is now positioned as the world's most consequential source of incremental supply," Radhika Bansal, senior vice president for oil and gas research at Rystad, said, adding that the region offers scale, geologic quality and relative political stability.Fast tracked offshore projects in Brazil, Guyana and Suriname could add over 1 million barrels of oil equivalent per day over the next decade, supported by about $33 billion in additional greenfield investment through 2035.ExxonMobil's (XOM) Yellowtail development in Guyana, which started up at 250,000 b/d, is targeting 300,000 b/d. Rystad said similar debottlenecking could unlock 80,000-90,000 b/d across the Errea Wittu, Jaguar and Hammerhead fields.The largest upside, however, lies in accelerating final investment decisions on new projects. Limited global shipyard capacity for new floating production, storage, and offloading vessels remains the main bottleneck.Meanwhile, Venezuela could add 910,000 b/d by 2035 under a $100 oil scenario, Rystad said, with 57% of the increase coming from existing fields in the East and West.The consultancy said global oil firms are cautiously returning. ExxonMobil, whose CEO labeled Venezuela "uninvestable" in January, has since dispatched technical teams to evaluate opportunities.Shell also signed preliminary agreements with Venezuelan state-owned energy firm PDVSA in March covering offshore gas and onshore exploration.Rystad said upside could grow if more companies follow Chevron (CVX), Eni (E), Repsol and Shell (SHEL) in partnering with PDVSA to revive underdeveloped fields.Argentina's Vaca Muerta shale formation is also expected to drive long-term growth, with production forecast to rise from about 600,000 b/d currently to 1 million b/d by the end of the decade, and potentially 1.8 million b/d by 2035.Export growth would be constrained by the capacity of the Vaca Muerta Oil Sur pipeline, which Rystad identified as a potential bottleneck.Rystad analysts said the pace of South American supply growth will depend less on resource availability and more on execution capacity, infrastructure constraints and regulatory frameworks."Countries that provide clear fiscal and regulatory frameworks are better positioned to accelerate project sanctions and capture the upside from higher prices," Bansal said.

$CVX$E$PBR$SHEL
Wire

Braskem Discloses Judicial Deal for Sale of Controlling Stake to IG4-Advised Fund

Braskem (BAK) said it received notice that Novonor and its unit NSP Investimentos entered into a judicial agreement to sell their controlling stake in the petrochemical producer to the IG4-advised Shine I FIP fund, according to a Monday regulatory filing.Under the agreement, Shine I FIP will acquire 226.3 million common shares and 47.3 million class A preferred shares, representing about 50.1% of Braskem's voting capital and 34.3% of its total share capital, the filing said. NSP Investimentos will retain 31.9 million class A preferred shares, equal to about 4% of Braskem's total capital.The transaction remains subject to several conditions, including required judicial approvals, remaining regulatory clearances, and confirmation that Petrobras (PBR) will not exercise its preemptive or tag-along rights under the shareholders' agreement, the filing said.Price: $3.65, Change: $+0.08, Percent Change: +2.10%

$BAK$PBR
Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were sharply lower late Friday afternoon, with the NYSE Energy Sector Index dropping 3.7% and the State Street Energy Select Sector SPDR ETF (XLE) falling 2.8%.The Philadelphia Oil Service Sector Index declined 1.1%, and the Dow Jones US Utilities Index decreased 0.5%.In sector news, oil prices plunged Friday as Iran's foreign minister said the Strait of Hormuz is "completely open" following a ceasefire in Lebanon. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iran's Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Front-month West Texas Intermediate crude oil slumped 11% to $84.23 a barrel, and the global benchmark Brent crude contract dropped 9.2% to $90.28 a barrel. Henry Hub natural gas futures rose 1.2% to $2.68 per 1 million BTU.In corporate news, Chevron (CVX), Exxon Mobil (XOM) and other major oil companies received backing from the US Supreme Court on Friday as the court ruled that lawsuits filed by Louisiana officials accusing them of harming the state's coastal areas should be transferred out of the state courts and into federal court, according to a court document. Chevron shares were down 2.1%, and Exxon shed 3.6%.An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Co., the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil, Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg reported. Shell shares dropped 4%, TotalEnergies shed 4.1%, and Eni fell 5.6%.Petrobras (PBR) said Friday it signed an agreement with Oranto Petroleum to buy a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe. Petrobras shares were down 4.9%.Exelon (EXC) shares fell 1.2% after multiple brokerages downgraded the energy provider.

$CVX$E$EXC$PBR$SHEL$TTE$XOM
Sectors

Sector Update: Energy Stocks Fall Friday Afternoon

Energy stocks were sharply lower Friday afternoon, with the NYSE Energy Sector Index dropping 4.4% and the State Street Energy Select Sector SPDR ETF (XLE) falling 3.4%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index was down 0.7%.In sector news, oil prices plunged Friday as Iran's foreign minister said the Strait of Hormuz is "completely open" following a ceasefire in Lebanon. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iran's Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Front-month West Texas Intermediate crude oil slumped 12% to $83.24 a barrel, and the global benchmark Brent crude contract dropped 10% to $89.24 a barrel. Henry Hub natural gas futures rose 1.8% to $2.69 per 1 million BTU.In corporate news, an Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Co., the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg reported. Exxon shares fell 4.7%, Shell dropped 5.1%, TotalEnergies shed 4.9%, and Eni fell 7.2%.Petrobras (PBR) said Friday it signed an agreement with Oranto Petroleum to buy a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe. Petrobras shares were down 5.6%.Critical Metals (CRML) shares surged 36% after it said Friday that the Government of Greenland has approved the transfer of the remaining 50.5% stake in Tanbreez Mining Greenland, increasing the company's ownership to 92.5%.

$CRML$E$PBR$SHEL$TTE$XOM
Commodities

Petrobras to Lead Block 3 Development in Sao Tome and Principe After Stake Purchase

Brazil's state-run oil company Petrobras (PBR) said Friday it has agreed to acquire a controlling stake and assume operatorship of offshore Block 3 in Sao Tome and Principe from Nigeria's Oranto Petroleum.Under the terms of the deal, Petrobras will take a 75% interest in the block located offshore the tiny island nation of Sao Tome and Principe, which sits in the Gulf of Guinea off Africa's west coast.Upon completion, the consortium will consist of Petrobras as operator with 75%, Oranto with 15%, and the National Petroleum Agency of Sao Tome and Principe retaining its 10% stake. Oranto currently holds a 90% interest and serves as operator.Petrobras said the acquisition builds on its renewed presence in Africa since 2024, where it already holds stakes in other blocks in Sao Tome and Principe. The move is aimed at strengthening exploration activities in the region and diversifying the company's portfolio.Completion of the deal is subject to customary conditions, including regulatory and government approvals in Sao Tome and Principe.Petrobras said it will disclose any material developments related to the transaction to the market.Price: $19.98, Change: $-1.52, Percent Change: -7.07%

$PBR
Equities

Petroleo Brasileiro to Take Over Operations at Offshore African Oil Block

Petroleo Brasileiro (PBR) said Friday it signed an agreement with Oranto Petroleum to purchase a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe.Following the transaction, Oranto will retain a 15% stake in the African block while the national petroleum agency will maintain its 10% share, the company said.The acquisition expands the firm's presence in the country and is part of its 2026-2030 business plan to replenish energy reserves by exploring new regions, Petroleo Brasileiro said.The deal remains subject to customary closing conditions and regulatory clearance from the local government, the company added.

$PBR
Wire

Market Chatter: Petrobras in Talks to Reacquire Brazil Refinery From Mubadala

Petrobras (PBR) is in initial talks to reacquire the Mataripe refinery in Brazil from Abu Dhabi's Mubadala sovereign wealth fund, with an agreement possible by the end of the year, Reuters reported Monday, citing two sources with knowledge of the matter.The refinery is Brazil's second largest but is only operating at 60% capacity, while Petrobras' facilities are operating at their limit in a bid to increase local production, one of the sources reportedly said.Petrobras and Mubadala did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $20.97, Change: $-1.01, Percent Change: -4.57%

$PBR
Commodities

Transocean Adds $445 Million Backlog With Petrobras Drillship Deal

Transocean (RIG) said Tuesday it secured about $445 million in additional backlog after extending a drillship contract with Petrobras (PBR) through November 2030.The company said its Deepwater Corcovado rig received a 1,156-day extension from Petrobras, allowing it to continue its current work and adding significant long-term revenue visibility.Before the new contract begins in September 2027, backlog will decline by about $20 million over a 525-day period starting in April 2026, partially offsetting the total increase, according to the company.Price: $6.40, Change: $-0.24, Percent Change: -3.61%

$PBR$RIG
Commodities

Honeywell to Supply Ethanol-to-Jet Tech For Petrobras SAF Project

Brazilian state-run oil giant Petrobras (PBR) has selected Honeywell's (HON) ethanol-to-jet technology for a proposed plant in Sao Paulo, the first large-scale sustainable aviation fuel project in Latin America, the companies said on Tuesday.The project, which will be located at the REPLAN refinery in Paulinia and is subject to final approval, is designed to produce up to 10,000 barrels per day of SAF.The ETJ process, developed by Honeywell, converts ethanol into jet fuel, offering refiners a way to scale up lower-carbon aviation fuel using widely available renewable feedstocks.The project is seen as a cost-effective route to expanding SAF output in Brazil, where ethanol production is well established."Brazil has the scale, feedstock and technology partners needed to become a global powerhouse in sustainable aviation fuel," said Jose Fernandes, president of Honeywell Latin America.The demand for SAF is forecast to increase as airlines face increasing pressure to cut emissions. The aviation sector has been seeking scalable solutions to reduce its carbon footprint, with governments and industry bodies setting targets to boost the use of cleaner fuels.The REPLAN project is expected to serve both domestic and international airlines while broadening access to renewable jet fuel.Price: $233.79, Change: $+0.15, Percent Change: +0.06%

$HON$PBR
Sectors

Sector Update: Energy Stocks Lean Lower Premarket Tuesday

Energy stocks were leaning lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.9%.The United States Oil Fund (USO) was down 1.2% and The United States Natural Gas Fund (UNG) was 0.6% higher.Front-month US West Texas Intermediate crude oil was 3% lower at $96.08 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.5% to $97.91 per barrel, and natural gas futures were up 0.1% at $2.63 per 1 million British Thermal Units.Chevron (CVX) said it agreed to an asset swap with Petroleos de Venezuela via its subsidiaries in the country to consolidate its heavy oil position. Chevron stock was down more than 1% pre-bell.BP (BP) said its Q1 upstream production is expected to be "broadly flat" from the previous quarter, while cautioning that energy market volatility may pressure results and widen price fluctuations. BP shares were 0.4% higher premarket.Transocean (RIG) said its Deepwater Corcovado drillship was awarded a 1,156-day contract extension with Petrobras (PBR) through November 2030. Petrobras shares were down more than 1% pre-bell.

$BP$CVX$PBR$RIG$UNG$USO$XLE
Commodities

Petrobras Makes New Hydrocarbon Discovery in Campos Basin

Brazil's state-run energy firm Petrobras (PBR) said on Monday it had discovered hydrocarbons in the pre-salt layer of the Campos Basin.The discovery was made in an exploratory well drilled in Block CM-477, about 201 kilometers offshore Rio de Janeiro, at a water depth of nearly 3,000 meters.The well, identified as 1-BRSA-1404DC-RJS, confirmed the presence of hydrocarbons through electrical logs, gas shows, and fluid sampling, the energy firm said in a statement.Petrobras said further laboratory analysis of the collected samples will determine the characteristics of the reservoirs and fluids, helping the company assess the commercial viability of the find.The company operates block CM-477 with a 70% stake, alongside BP (BP), which holds the remaining 30%.The block was awarded under Brazil's 16th bidding round, organized by the National Agency of Petroleum, Natural Gas and Biofuels under a concession regime.Petrobras said the discovery aligns with its strategy to replenish oil and gas reserves through exploration in frontier areas, while ensuring energy supply during the broader energy transition.Price: $46.80, Change: $+0.36, Percent Change: +0.76%

$BP$PBR
Sectors

Sector Update: Energy Stocks Lean Lower Premarket Friday

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.3%.The United States Oil Fund (USO) was down 1.3% and The United States Natural Gas Fund (UNG) was 0.2% lower.Front-month US West Texas Intermediate crude oil was 0.1% higher at $97.95 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.2% to $95.68 per barrel, and natural gas futures were up 0.2% at $2.68 per 1 million British Thermal Units.ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, several media outlets reported, citing a company statement. Shares of ConocoPhillips were marginally higher pre-bell.Petrobras (PBR) said it signed contracts with Petronas Petroleo Brasil to acquire 50% stakes in the Tartaruga Verde and Espadarte - Module III fields in the Campos Basin offshore Brazil for $450 million, regaining full ownership in the assets. Petrobras shares were up 1% premarket.EQT (EQT) and Glencore (GLEN) committed to acquiring an extra 1 million metric tons of liquefied natural gas annually from Commonwealth LNG through 20-year agreements, Reuters reported, citing a regulatory document. EQT stock was 0.6% lower pre-bell.

$COP$EQT$PBR$UNG$USO$XLE
Equities

Petrobras Signs $450 Million Contracts to Regain Full Ownership of Offshore Brazil Assets

Petrobras (PBR) said Thursday it signed contracts with Petronas Petroleo Brasil to acquire 50% stakes in the Tartaruga Verde and Espadarte - Module III fields in the Campos Basin offshore Brazil for $450 million, regaining full ownership in the assets.The company said $50 million was paid at signing, with $350 million to be paid upon closing. The deal consideration includes two deferred installments of up to $25 million each, according to Petrobras.The deal is subject to approval by Brazil's National Agency of Petroleum, Natural Gas and Biofuels.

$PBR

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