The big question for months has been what would happen if there was a significant spill in the deepwaters outside of the Gulf of Mexico. Following BP’s Macondo disaster, the industry worked together to build two spill response systems for this area. But nobody said what would happen if a deepwater disaster unfolded in the waters offshore Ghana or Brazil.
Petrobras offshore ship platformWhile Petrobras is drilling deeper than ever before beneath the seabed in its quest for nature’s wealth, above ground Brazil’s national oil company is seeking to tap further into international markets as it seeks to finance its ambitious capital expenditure plans. Read more
Brazil refineryAt a year-end breakfast in Rio de Janeiro this morning, Petrobras announced a bit of pre-holiday housekeeping to help set the stage for the expansion planned over the next few years. The Brazilian state-controlled oil company will pay $850m to buy back complete control of the Refap refinery, Brazil’s fifth-largest, from Repsol. Read more
Traditional integrated, multi-national oil companies are increasingly worried about the way in which nationalised (or part-nationalised) rivals are encroaching onto their natural territory. Read more
What will the election of Dilma Rousseff, Lula’s anointed successor, as president of Brazil mean for the country’s energy sector? Read more
It is finally a done deal: Petrobras will sell about $70bn worth of shares in the biggest share issue in corporate history after enthusiastic investors asked for double that amount. Read more
Get ready. The world’s biggest share issue will be priced on Thursday – and the indications are it will be a resounding success, at least for the company, Petrobras, and its controlling shareholder, the Brazilian government. Read more
At last — some de-equitisation.
From RNS on Tuesday:
The Board of Wellstream has noted the movement in its share price and confirms that it has received a number of preliminary approaches regarding a possible offer for the Company.
There can be no certainty that an acceptable offer will ultimately be made. A further announcement will be made in due course. Read more
Petrobras’s IPO just got a little more intriguing. The Brazilian oil giant has announced that it will add another 376m shares to its offering, under an over-allocation option. That could take the IPO to a total of $79bn – three-and-a-half times the world record set by AgBank earlier this year. Read more
As the FT reports on Thursday, many investors are unhappy about the way Petrobras and Brazil’s government, the national oil company’s controlling shareholder, have handled its forthcoming share issue, set to be the biggest ever attempted. Read more