Search Results for 'petrobras'

BSbios to exercise preferential right in purchase Petrobras’ remaining 50%

BSbios to exercise preferential right in purchase Petrobras’ remaining 50%

March 5, 2018 |

In Brazil, the CEO of BSbios told Reuters he will exercise his preferential right to buy Petrobras’ 50% share in the company via his R.P.Bio company. The rights are outlined in the shareholder agreement. With the government moving forward the B10 blending mandate a year earlier from B8 previously, he said he was positive about […]

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Petrobras sells remaining shareholding in Sao Martinho for $137 million

Petrobras sells remaining shareholding in Sao Martinho for $137 million

February 20, 2018 |

In Brazil, Petrobras sold its remaining 24 million shares in Sao Martinho, worth 6.59% of the company, at an auction held at the Sao Paulo B3 exchange for $137 million. The companies had previously collaborated on ethanol plants but Petrobras backed out in 2016 as it began reorganizing its assets that later became a fire […]

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Petrobras demonstrating microalgae-based biodiesel technology

Petrobras demonstrating microalgae-based biodiesel technology

February 15, 2018 |

In Brazil, Agencia Brasil reports that Petrobras has been working to develop a microalgae-based biodiesel technology despite its financial troubles and its exit from ethanol. Preliminary results from lab tests by the ANP agency done on the fuel have been positive. A demonstration scale facility in Extremoz, Rio Grande do Norte state has storage tanks […]

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Petrobras to join Oil and Gas Climate Initiative after selling off biofuel assets

Petrobras to join Oil and Gas Climate Initiative after selling off biofuel assets

January 27, 2018 |

In Brazil, Petróleo Brasileiro S.A. (Petrobras) is joining the Switzerland-based Oil and Gas Climate Initiative, whose member companies represent more than a quarter of the world’s oil and gas production. OGCI aims to speed and scale up initiatives taken by member companies to reduce the greenhouse gas footprint of their core oil and gas business […]

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Petrobras divesting BSBios in next step of asset fire sale

Petrobras divesting BSBios in next step of asset fire sale

December 18, 2017 |

In Brazil, Petrobras is continuing with its divestiture plans by getting rid of its 50% stake in BSBios that owns two biodiesel plants in Rio Grande do Sul and Paraná with a total installed production capacity of 288,000 cubic meters. The company’s other 50% is held by R.P. Biocombustiveis Holding who has first right to […]

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Petrobras gets exemptions and adjustments from ANP for Libra pilot project

Petrobras gets exemptions and adjustments from ANP for Libra pilot project

October 8, 2017 |

In Brazil, Petrobras was informed that it was exempt from complying with local content requirements for all parts of the hull and some parts of the plant for their Libra Pilot project. Petrobras is the operator of the Libra consortium and was notified by the National Petroleum, Natural Gas and Biofuels Agency (ANP) of its […]

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Petrobras lowers gas prices for second time in a month

Petrobras lowers gas prices for second time in a month

June 19, 2017 |

In Brazil, for the second time in less than a month, Petrobras as lowered the gasoline price that is turn further pressures ethanol demand and pushes the ethanol parity level with sugar well below 13 cents. Despite hydrous ethanol prices being 68% of gasoline prices during the week ending June 10, the lowest since September […]

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Brazilian hydrous ethanol prices will have to fall further after Petrobras cuts gas prices again

Brazilian hydrous ethanol prices will have to fall further after Petrobras cuts gas prices again

May 29, 2017 |

In Brazil, ethanol prices may be forced to fall even further in line with Petrobras’ cuts to gasoline prices. On Thursday the oil major announced a 5.4% price cut effective immediately, meaning a 2.4% price drop at the pump. The latest figures from the energy agency ANP show that hydrous ethanol prices had fallen below […]

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Petrobras turns its back on biofuels now that it has divested

Petrobras turns its back on biofuels now that it has divested

April 19, 2017 |

In Brazil, now that Petrobras has divested from biofuels in its attempt to raise funds to pay off massive $100 billion debt, it has come out against the government’s new RenovaBio program meant to raise biofuel production and consumption, claiming that biofuels negatively impact forests and threaten food production. It continued by saying that biofuel […]

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Tereos finalizes purchase of Petrobras’ 45.9% Guarani stake

Tereos finalizes purchase of Petrobras’ 45.9% Guarani stake

February 7, 2017 |

In Brazil, Tereos made the $202 million cash payment and other conditions set out for the purchase of Petrobras’ 45.9% stake in Guarani, making the French company the 100% sole owner of Guarani’s eight sugar and ethanol assets in Brazil and Mozambique. The deal was agreed in December as Petrobras’ final divestiture from the ethanol […]

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