|Bid||0.00 x 2900|
|Ask||0.00 x 34100|
|Day's range||13.96 - 14.21|
|52-week range||11.42 - 15.75|
|Beta (5Y monthly)||1.90|
|PE ratio (TTM)||19.03|
|Forward dividend & yield||0.41 (2.90%)|
|Ex-dividend date||25 Dec 2019|
|1y target est||18.68|
U.S.-based financial firm Global Infrastructure Partners (GIP) is planning a joint bid with Brazil's fuel distribution company Raízen for refineries put on the block by Petroleo Brasileiro SA , two sources with knowledge of the matter said. Raízen, a joint venture between Royal Dutch Shell PLC and Brazilian ethanol producer Cosan SA , has presented non binding offers for the largest refineries put on sale by state-controlled Petrobras.
Anglo-French firm Perenco, UK-based Trident Energy and Premier Oil Plc are among the companies examining the purchase of a cluster of Petrobras oilfields in Brazil known as Polo Garoupa, seven told sources told Reuters in recent weeks. The deliberations are preliminary, and it is possible none of the firms will purchase the mature fields in Brazil's offshore Campos Basin, at least under the terms Petrobras is offering, added the sources, who requested anonymity to discuss confidential matters.
2020 could see a number of high-profile oil auctions, and where 2019 was a mixed bag in terms of asset assets, this year is shaping up to be more promising
Norway's $1 trillion (779.4 billion pounds) sovereign wealth fund has removed Brazilian oil firm Petrobras from a watchlist of firms that could be dropped as investments due to ethical concerns, the central bank said on Tuesday. Petrobras was put under observation in 2016 over corruption risks. The fund's ethics watchdog, the Council on Ethics, believed the risk of corruption at Petrobras was now reduced, the central bank, which manages the fund, said.
Brazil's state-controlled oil company Petroleo Brasileiro SA has selected four groups for the second round of bidding for four refineries up for sale, including China's Sinopec, Abu Dhabi's state investor and two Brazilian firms, according to four people with knowledge of the matter. Sinopec, Abu Dhabi's Mubadala Investment Co and Brazil's Ultrapar Participações SA and Raizen were chosen to go through to the next phase, they said.
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030 according to new research
Foreign oil stocks seem to be weathering the current environment better than US drillers, and some of them have managed to significantly raise profits over the last few quarters
Saudi Aramco’s much-anticipated initial public offering is almost here, and its proposed dividend yields may be able to shed some light about its potential valuation
RIO DE JANEIRO/LONDON (Reuters) - As the weeks ticked down to Brazil's biggest-ever oil auction, state-run Petrobras held increasingly frantic talks to find potential partners, with the heaviest blow coming when major Exxon Mobil Corp pulled out days before, according to six people familiar with the matter. While many firms were far from ready to take on enormous signing fees and investments, Exxon came closest but ultimately failed to reach acceptable terms for the blockbuster bidding round, according to four of the sources, who requested anonymity to discuss confidential negotiations. The big Brazilian round was the latest offshore auction this year to undershoot expectations, hurt by competition from shale oil and other unconventional sources as well as lower demand forecasts.
Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA . The only block awarded in Thursday's bidding went to Petrobras, as the Brazilian state-run firm is known, and Chinese state firm CNODC, a unit of China National Petroleum Corp, which offered the minimum bid. The result, following a lack of foreign interest in an even bigger Wednesday round, was a wake-up call to those who expected this week to crown Brazil as uncontested champion of the Latin American oil industry.
Brazil’s much-hyped oil auction has ended in complete failure, with supermajors staying away after claiming that the blocks were far too expensive
Brazilian President Jair Bolsonaro said on Wednesday that he wants his country to join OPEC, a move that would add the most significant new producer to the oil cartel for years but met with skepticism in Brazil's energy industry. The comments come ahead of a massive auction of oil rights in Brazil, which is boosting output rapidly. OPEC membership would likely require Brazil to limit oil production, potentially throwing future expansion plans into doubt.
RIO DE JANEIRO/MEXICO CITY (Reuters) - When executives arrive in Rio de Janeiro this week for Brazil's biennial Offshore Technology Conference, they will find themselves in Latin America's most promising market for Big Oil by far. In early October 2018, Brazil's current president, Jair Bolsonaro, was in a tight electoral race with Fernando Haddad of the leftist Workers' Party. Global executives feared a Haddad victory would reverse recent pushes to provide them an opening in Brazil's oil industry, which for years had been dominated by state-run Petroleo Brasileiro SA, or Petrobras.
** United Airlines wants to include Brazil's Azul in its planned tie-up with Copa Holdings and Colombia's Avianca Holdings to create a four-way partnership in Latin America, a senior executive said. ** Brazil's state-run oil company Petroleo Brasileiro SA is studying exiting its stake in Braskem SA via a share offering, an executive said, the latest in a series of proposals to separate itself from the petrochemical firm.
Swiss federal prosecutors said they had opened an investigation of private bank J. Safra Sarasin as part of a wide-ranging corruption probe surrounding Brazilian state oil company Petrobras and construction firm Odebrecht. J. Safra Sarasin had no immediate comment.
Swiss prosecutors said Tuesday that they have filed their first indictment in investigations related to the big Brazilian construction company Odebrecht and Brazil's state-run oil giant Petrobras, charging a suspect with complicity in the bribery of foreign public officials and with money laundering. Swiss authorities have been conducting investigations since April 2014 related to the sprawling corruption scandal involving Odebrecht and Petrobras.
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area. The bidders who win exploration and production rights in the massive Nov. 6 auction will be obliged to pay the government a combined signing bonus of some 106.5 billion reais ($25.8 billion), making it the largest oil bidding round in history, according to Brazilian authorities. The fields are unique as Brazilian state-run oil firm Petroleo Brasileiro SA, better known as Petrobras, has already done significant exploration work in the area.
France's Total SA , the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for Nov. 6 of the so-called Transfer of Rights area in Brazil's pre-salt region. The company's chief executive officer, Patrick Pouyanné, said in a statement that was because the competitive bidding rounds were for non-operating stakes. A consortium led by Total won the exploration and production rights for an offshore block near the pre-salt region on Thursday, agreeing to pay the government a signing bonus of 4 billion reais ($978 million).