Petrobras

Brazil government fires Petrobras CEO after a month on the job

Paes de Andrade will replace outgoing CEO Jose Mauro Coelho, picked to lead Brazil's leading oil company in early April, becoming its fourth chief executive in the past two years.

Shares in Brazil's Petrobras plunge 19% as President Jair Bolsonaro replaced CEO

Under sacked CEO Roberto Castello Branco, Petrobras had increased fuel prices four times so far in 2021, a cumulative rise of nearly 35 percent.

Petrobras agrees to pay nearly $3 bn to settle US suit

"The agreement, which is subject to approval by the court, is intended to resolve all pending and prospective claims by purchasers of Petrobras securities in the United States and by purchasers of Petrobras securities that are listed for trading in the United States," Petrobras said in a statement filed with Brazilian and US market regulators.

Petrobras to cut 5yr investment plan one-fifth to $80 bn:Sources

The state-led oil company's capital spending program will fall to about USD 80 billion in the 2016-20 period, an average of about USD 16 billion a year, said the sources, who requested anonymity because the plan is not final.

Impeachment proceedings opened against Brazil's president

Lower house speaker Eduardo Cunha said he had agreed to open proceedings. A special committee with members from all parties will decide on the merits of the request, which then needs two-thirds, or 342, of the votes of the chamber to suspend the president pending a 180-day trial by the Senate.

Develop 2 oilfields as one: Brazil tells Shell, partners

Shell owns 50 percent of Parque das Conchas, its main Brazilian asset. Qatar's state oil company Qatar Petroleum owns 23 percent and India's ONGC owns 27 percent.

Brazil is in crisis ahead of 2016 Olympics in Rio

Six years later, Brazil is in dire straights, mired in the deepest crisis in decades. The economy is expected to shrink this year and next, and the majority of Brazilians are calling for the impeachment of President Dilma Rousseff, whose approval ratings are in the single digits.

Videocon plans $2.5 billion Brazil oil and gas investments

Videocon Industries Ltd plans to invest USD 2.5 billion in oil and gas ventures in Brazil over the next two to three years, the consumer electronics-to-energy group's chief said, as part of its strategy to boost the business.

Pending order book grown almost 30%: Praj Industries

Gajanan Nabar, CEO and MD of Praj Industries, discusses company's fourth quarter earnings and future outlook.

Modi's year old govt faces brewing storm in rural India

Promising good governance and a stronger economy, Modi romped to power in elections last May by the biggest margin any prime minister has got in three decades. But the rural crisis has dented his popularity and the vanquished opposition is finding new vigour in his discomfort.

Petrobras loses $9 billion in Q4 in wake of scandal

Write-downs linked to a corruption scandal amounted to 6.19 billion reais (about USD 2 billion), while remaining losses came from cost overruns at refineries and oil price pressures.

Videocon-BPCL consortium discovers oil off Brazilian coast

Drilling has identified two reservoir intervals of light oil and gas - the top with a thickness of 44 meters, and the bottom 11 meters thick, the bottom zone being a new discovery for the area.

Videocon jumps 4%, finds more oil reserves in Brazil

Shares of Videocon Industries rallied 4.4 percent intraday Monday after the company discovered more reservoir intervals of light oil and gas in Brazil.

Videocon Industries up 15% on oil discovery in Brazil

Petroleo Brasileiro SA (Petrobras), the operator of the BM-SEAL-11 Concession, said, "The results of drilling of the 9-SES-188D Well confirm the light oil and gas discovery in Farfan area. The results presented excellent permoporosity conditions in the turbidities reservoirs with 54 meters thickness."

ONGC, Shell buy rest of Brazil offshore block

Under the accord, which the companies began negotiating in September, Shell will get an additional 23 percent of BC-10, raising its stake to 73 percent. ONGC will get an additional 12 percent, boosting its stake to 27 percent, Shell said.

OVL increases stake in Brazilian oilfield for $529 million

The acquisition of additional participating interest in the block is subject to approval of the Brazilian antitrust and regulatory authorities.

Petrobras, IBV wells show major new oil find in Brazil

Petrobras has been betting that the waters off Sergipe hold large quantities of oil and gas since it bought rights to drill in the area a decade ago.

Videocon-Petrobras find more oil in Brazil offshore block

Videocon - Petrobras joint venture has found more oil in Brazil offshore block, reports CNBC-TV18. Videocon Industries touched an intraday high of Rs 181.50 and an intraday low of Rs 177.15. At 09:28 hrs the share was quoting at Rs 178.00, up Rs 3.85, or 2.21%.