In the first JV with PDVSA, Petrobras
is producing below 60,000 b/d from four fields - Oritupano Leona, La Concepcion, Mata and Acema.
The sale of the Gaspetro stake forms part of an asset divestment plan that Petrobras
already announced for the 2015-2019 period and that can help the world's most indebted oil firm to remain current on its obligations.
said in a statement, The funds will be available for disbursement after the internal approvals of both institutions .
Following several arrests of senior level Petrobras
management, and disclosure that Petrobras
may potentially have to adjust its historical financial statements to recognize the overpricing of construction contracts.
Building on its strong global track record in delivering control systems, sensors, and advanced field wireless technology, Yokogawa will utilise this partnership with Petrobras
to expand its provision of field wireless technology solutions to production plant operators around the world.
Argentina holds 71% in its Puesto Peter joint venture with Argentine firm Compania General de Combustibles (CGC).
Indeed, a closer look shows the results for what they are; a damming indictment of Brazil's oil policy, which is sending Petrobras
down the route of debt and financial losses that have long been the curse of Mexico's state oil monopoly, Pemex.
This hurts the company's margin," as Petrobras
still needs to import refined gas, says Eric Scott, oil and gas analyst at the SLW brokerage firm in Sao Paulo.
Rio de Janeiro-based Petrobras
, Latin America's largest publicly traded company, said on Monday that its board will vote on Feb.
But on 15 May 2009, a Parliamentary Inquiry Commission (or CPI) was initiated by the Brazilian Senate to investigate charges of fraud, corruption, tax evasion and over-invoicing by Petrobras
Eni said yesterday in a statement that it is weighing options for the disposal of its Galp stake, which include 'opportunities' with Petrobras
The money will fund Petrobras
' ambitious $224 billion, five-year plan to develop offshore fields Petrobras
discovered in the last three years that hold more than 50 billion barrels of recoverable oil.