Tag: Petrobras

Petrobras cuts gasoline prices 12%, second cut in two weeks

Petrobras cuts gasoline prices 12%, second cut in two weeks

March 18, 2020 |

In Brazil, Reuters reports that for the second time in two weeks, Petrobras has cut gasoline prices in line with falling oil prices globally. The cut announced Wednesday is 12% while last week saw a first cut of 9.5%. Brazilian sugar mills have been benefiting from record high prices for ethanol thanks to high gasoline […]

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Petrobras cuts Brazil gasoline prices by near 10%; sugar prices tumble

Petrobras cuts Brazil gasoline prices by near 10%; sugar prices tumble

March 15, 2020 |

In Brazil, Reuters reports that “Brazil’s state-controlled oil company Petrobras cut gasoline prices at refineries in the country by almost 10% on Thursday, the first cut since last week’s oil price collapse, a move that could boost sugar production and reduce ethanol output.” The oil company, which has a near refining monopoly in Brazil, reduced […]

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Petrobras Biocombustíveis to sell 50% stake in BSBios

Petrobras Biocombustíveis to sell 50% stake in BSBios

December 24, 2019 |

In Brazil, Petrobras reports that its wholly owned subsidiary Petrobras Biocombustíveis S.A. (PBio) has started the opportunity disclosure phase (teaser) related to the joint sale of all its shares in BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (“BSBios”). PBio holds a 50% stake in BSBios and will sell it together with its partner, […]

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Petrobras’ distribution arm looking to set up ethanol, natural gas and electricity trading

Petrobras’ distribution arm looking to set up ethanol, natural gas and electricity trading

October 24, 2019 |

In Brazil, Reuters reports that local newspaper Valor Economico says Petrobras’ fuel distribution arm BR Distribuidora is looking to widen its product offering to clients by exploring the creation of trading desks for electricity, natural gas and ethanol. The distribution arm saw 30% of its shareholding sold in a share offering three months ago, raising […]

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Saudi oil attack could spur further Brazilian ethanol demand domestically

Saudi oil attack could spur further Brazilian ethanol demand domestically

September 18, 2019 |

In Brazil, Reuters reports that Petrobras is not yet clear how much of the oil price increase on international markets resulting from the attack on Saudi oil production over the weekend will be passed on to consumers. Any increase in price is likely to be good for ethanol demand. Sugar mills are already dedicating around […]

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Petrobras sells 50% stake in Belem Bioenergia Brasil to Galp Bioenergy

Petrobras sells 50% stake in Belem Bioenergia Brasil to Galp Bioenergy

August 10, 2019 |

In Brazil, Petrobras signed a contract to sell its 50% stake in Belem Bioenergia Brasil to Galp Bioenergy BV, which holds the other 50% stake in the company. According to the Petrobras press release, the transaction value is R$ 24.7 million (about $6.3 million), which will be retained by Galp until December 2020 for potential […]

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Petrobras’ fire sale put on hold after supreme court justice steps in

Petrobras’ fire sale put on hold after supreme court justice steps in

July 5, 2018 |

In Brazil, Bloomberg reports that a supreme court justice has put the brakes on Petrobras’ divestiture of its biofuel and other assets, saying that the privatization of those assets requires congressional approval. The company beleaguered by scandal and billions in debt has been trying to sell off its ethanol and biodiesel assets. The report did […]

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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 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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