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Petróleo Brasileiro S.A., commonly known as Petrobras (symbol: PBR), is a state-owned Brazilian multinational corporation in the petroleum industry, headquartered in Rio de Janeiro, Brazil. This leading energy company focuses on the exploration and production of oil and gas, predominantly in Brazilian offshore fields. With a production output of 2.8 million barrels of oil equivalent per day in 2023, where 80% is oil, Petrobras is a significant player in the global energy market.
In terms of reserves, the company holds an impressive 10.9 billion barrels of oil equivalent, with 85% being oil. Petrobras operates ten refineries across Brazil, boasting a substantial capacity of 1.8 million barrels per day. This enables the company to distribute refined products and natural gas throughout the country, ensuring a steady supply of energy to meet domestic needs.
Petrobras' portfolio includes various partnerships and projects aimed at enhancing its production capabilities and technological advancements. The corporation is controlled by the Brazilian government, which provides a stable backing for its extensive operations.
Recent news highlights indicate ongoing developments and achievements within the company. For instance, recent collaborations and technological innovations are positioning Petrobras to further expand its influence and operational efficiency in the energy sector.
Petrobras remains a key player in the global oil and gas industry, contributing significantly to Brazil's economy while continuously exploring new opportunities for growth and sustainability.
Petrobras has launched cash tender offers to purchase up to US$750 million each for two groups of notes through its subsidiary, Petrobras Global Finance B.V. The total Maximum Consideration for both groups is US$1.5 billion, excluding accrued interest. The offers are independent and not contingent on each other, with a settlement expected by July 15, 2022. Eligible holders can withdraw their tenders before the expiration on July 12, 2022. The completion of offers depends on the Maximum Consideration Condition being met. Notably, this strategic move reflects Petrobras' management of its debt portfolio amid market conditions.
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) announced the final results of cash tender offers made by its subsidiary, Petrobras Global Finance B.V. (PGF), for various outstanding notes. The Offers, which expired on April 11, 2022, resulted in approximately US$2.0 billion paid to noteholders. Total principal amounts accepted include US$672,459,000 from 5.093% global notes due January 2030 and US$224,173,000 from 7.375% global notes due January 2027, among others. BNP Paribas, Citigroup, and others acted as dealer managers for the Offers.
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) announced the results of its cash tender offers through its subsidiary, Petrobras Global Finance B.V. for two groups of notes. The Offers expired on April 11, 2022, with a total cash payment of approximately US$2.0 billion expected for the purchase of validly tendered Notes. The maximum consideration amount for Tender Group 1 was increased to US$1,634,162,597.01. All conditions outlined in the Offer to Purchase were met prior to the expiration date, with settlement expected on April 14, 2022.
Petrobras (NYSE: PBR) announced cash tender offers for two groups of its notes, encompassing various maturities and amounts. The Offers had specified considerations and repurchase yields based on prevailing interest rates. Tender Group 1 includes notes due between 2024 and 2030, with total outstanding amounts of approximately $3.97 billion. Tender Group 2 features longer-term notes due between 2041 and 2051, totaling around $7.05 billion. The Offers are set to expire on April 11, 2022, with a settlement date of April 14, 2022.
Petrobras (NYSE: PBR) announced cash tender offers through its subsidiary, Petrobras Global Finance B.V., to purchase up to US$1 billion worth of notes across two groups. Tender Group 1 and Tender Group 2 will each have a maximum consideration of US$1 billion. The offers are part of Petrobras' strategy to manage its debt. The expiration date for the offers is set for April 11, 2022, with settlement expected by April 14, 2022. The offers are independent and not contingent upon the tender of a minimum principal amount, ensuring flexibility for the company.
TechnipFMC (NYSE: FTI) has secured three frame agreements from Petrobras (NYSE: PBR) to enhance its leadership in Brazil’s flexible pipe market. This significant contract involves over 500 kilometers of flexible pipe manufacturing over four years, contributing to approximately 600 kilometers contracted this year. These agreements support Petrobras's efforts to boost oil recovery in Brazilian offshore fields. A "large" contract for TechnipFMC is valued between $500 million and $1 billion. The collaboration underscores a strong partnership aimed at maximizing oil recovery.
TechnipFMC (NYSE: FTI) has secured a long-term charter and services contract with Petrobras (NYSE: PBR) for the pipelay support vessel Coral do Atlântico. This three-year contract, starting in Q2 2022, includes an option for extension and highlights the increasing demand for flexible pipelay services in Brazil. The vessel will operate in ultra-deepwater environments, emphasizing TechnipFMC's strong relationship with Petrobras. The contract value is classified as 'substantial,' estimated between $250 million and $500 million.
TechnipFMC (NYSE: FTI) and DOF Subsea have secured long-term contracts with Petrobras (NYSE: PBR) for the pipelay support vessels Skandi Vitória and Skandi Niteroi. Each contract spans three years with potential extensions and is valued between $75 million and $250 million. The vessels will commence operations in February 2022, performing decommissioning and subsea installation tasks in both shallow and deep waters. This partnership reinforces the ongoing collaboration between TechnipFMC and Petrobras in Brazil's energy sector.
Petrobras (NYSE: PBR) has completed cash tender offers for its subsidiary Petrobras Global Finance B.V.. The offers, which expired on June 8, 2021, resulted in the acceptance of notes totaling approximately US$2.45 billion. The following principal amounts were accepted: 6.750% Global Notes due June 2050 for US$325.8 million, 5.093% Global Notes due January 2030 for US$862.6 million, and others, totaling various amounts up to US$2.45 billion. No new securities have been offered, and the announcement serves informational purposes only.
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) announced the expiration of its cash tender offers for its outstanding notes, which ended on June 8, 2021. The total cash payment for the accepted notes, excluding interest, is approximately US$2.47 billion. Petrobras Global Finance B.V. (PGF) accepted all validly tendered notes across specified priority levels, while rejecting certain notes in lower priority. The settlement date for the accepted offers is expected on June 11, 2021.
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