The document discusses recent developments in Brazil's oil and gas industry:
- Petrobras confirmed pre-salt operations remain economically viable despite low oil prices due to optimized costs.
- Petrobras reaffirmed its 2016 investment target of $19 billion and later reduced its 2015-2019 investment plan by $32 billion to $98.4 billion, focusing more investments on pre-salt areas.
- The government created a program to promote the oil and gas supply chain and reduce costs, and the industry is asking the government for incentives to continue investments.
FORWARD-LOOKING STATEMENTS:
DISCLAIMER
The presentation may contain forward-looking statements about future events within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended, that are not based on historical facts and are not assurances of future results. Such forward-looking statements merely reflect the Company’s current views and estimates of future economic
circumstances, industry conditions, company performance and
financial results. Such terms as "anticipate", "believe", "expect",
"forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forward-looking statements. Readers are cautioned that these statements are only projections and may differ materially from
actual future results or events. Readers are referred to the documents filed by the Company with the SEC, specifically the Company’s most recent Annual Report on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements,
including, among other things, risks relating to general economic
and business conditions, including crude oil and other commodity prices, refining margins and prevailing exchange rates, uncertainties inherent in making estimates of our oil and
gas reserves including recently discovered oil and gas reserves,
international and Brazilian political, economic and social developments, receipt of governmental approvals and licenses and our ability to obtain financing.
FORWARD-LOOKING STATEMENTS:
DISCLAIMER
The presentation may contain forward-looking statements about future events within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended, that are not based on historical facts and are not assurances of future results. Such forward-looking statements merely reflect the Company’s current views and estimates of future economic
circumstances, industry conditions, company performance and
financial results. Such terms as "anticipate", "believe", "expect",
"forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forward-looking statements. Readers are cautioned that these statements are only projections and may differ materially from
actual future results or events. Readers are referred to the documents filed by the Company with the SEC, specifically the Company’s most recent Annual Report on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements,
including, among other things, risks relating to general economic
and business conditions, including crude oil and other commodity prices, refining margins and prevailing exchange rates, uncertainties inherent in making estimates of our oil and
gas reserves including recently discovered oil and gas reserves,
international and Brazilian political, economic and social developments, receipt of governmental approvals and licenses and our ability to obtain financing.
OPERATIONAL AND FINANCIAL
RESULTS - 1st Quarter 2014
Conference Call / Webcast
May 12th 2014
1Q14 Results
8% increase in Operating Income. 14% reduction in Net Income relative to 4Q13
Higher Operating Income due to the full effect during the 1Q14 of the oil products price adjustments and the lower share of
imported diesel in sales, negatively impacted by the provision for PIDV. Net income was lower due to the impact of the fiscal
benefit from interest on capital of R$ 3.2 billion, that occurred in the 4Q13.
Mercer Capital's Value Focus: Refining | Year-End 2018Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Check out highlights of our operations and financial results.
Petrobras’ Fact Sheet is an annual publication that consolidates the information relative to the fiscal year. In it, you can find the Company’s Profile, Competitive Advantages, Consolidated Financial Results, Operating and Social and Environmental Responsibility Data. The document also features our International Operations, as well as Petrobras’ Business Plan and the Performance of our shares at Bovespa and New York (NYSE).
Doing business with Petrobras: Procurement StrategiesPetrobras
Doing business with Petrobras:
Procurement Strategies
Offshore Technology Conference (OTC)
Houston - 2015
Ronaldo M.L. Martins, M.Sc.
Procurement Department
Mercer Capital's Value Focus: Exploration and Production | Q1 2016Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
OPERATIONAL AND FINANCIAL
RESULTS - 1st Quarter 2014
Conference Call / Webcast
May 12th 2014
1Q14 Results
8% increase in Operating Income. 14% reduction in Net Income relative to 4Q13
Higher Operating Income due to the full effect during the 1Q14 of the oil products price adjustments and the lower share of
imported diesel in sales, negatively impacted by the provision for PIDV. Net income was lower due to the impact of the fiscal
benefit from interest on capital of R$ 3.2 billion, that occurred in the 4Q13.
Mercer Capital's Value Focus: Refining | Year-End 2018Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Check out highlights of our operations and financial results.
Petrobras’ Fact Sheet is an annual publication that consolidates the information relative to the fiscal year. In it, you can find the Company’s Profile, Competitive Advantages, Consolidated Financial Results, Operating and Social and Environmental Responsibility Data. The document also features our International Operations, as well as Petrobras’ Business Plan and the Performance of our shares at Bovespa and New York (NYSE).
Doing business with Petrobras: Procurement StrategiesPetrobras
Doing business with Petrobras:
Procurement Strategies
Offshore Technology Conference (OTC)
Houston - 2015
Ronaldo M.L. Martins, M.Sc.
Procurement Department
Mercer Capital's Value Focus: Exploration and Production | Q1 2016Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Philadelphia Smelter: A Key Component of the 1880s Silver Rush in the Wood Ri...The Community Library
Presentation on the Philadelphia Smelter, an 1880s silver processing facility, to The Community Library, Regional History Department
by John W. Lundin, June 30, 2015. Pictures courtesy of The Community Library, Lundin Collection, and other sources.
Ensure the survival of Petrobras is the first step to be taken to create the conditions to promote its future development avoiding thus its liquidation or the sale or privatization of the company. The survival strategy will enable Petrobras to strengthen economic and operationally to take advantage of opportunities for further expansion with the adoption of the development strategy that would include the diversification of the company with the market, production, financial and capabilities development. In other words, by reducing its size and the scope of its activities at the time with the survival strategy, Petrobras would strengthen to retake later, the ability to operate in the oil and gas sectors and to diversify working in other areas.
Catalyst Corporate Finance Brazil Oil and Gas 2013Emma Dowson
Recent major oil & gas discoveries in Brazil’s offshore deepwater fields will move the country into the top five producers globally by 2020. Exploration auctions in 2013 will boost M&A activity as international corporates across the supply chain position themselves to benefit from the associated investment.
Edition 41 - Sharing in Petrobras - March/2014Petrobras
- Strategic Plan: horizon 2030
- 2014-2018 Business and Management Plan
- Declaration of commerciality in Transfer of Rights areas
- Libra Consortium
- Capital raising abroad
- 2013 net income was R$ 23.6 billion
- Oil and natural gas output expected to rise 7.5% in 2014
- Record in the pre-salt: 412,000 barrels/day
- Rising output at Cascade and Chinook
- New regasification terminal in Bahia
- Petrobras returns to F1 with Willians Martini Racing
- Cenpes turns 50
- Ultra-low sulfur gasoline launched in Brazil
There was an important strategic redirection of Petrobras during the Michel Temer government, which is detrimental to the company, the Brazilian population and an attempt against national sovereignty. This strategy is detrimental to Petrobras because it makes it become a company that only produces in the area of the Pre-Salt (as a partner of foreign oil companies) and only exports petroleum, it is detrimental to the company by transferring 25% of the market of refining to other private and / or foreign companies, is detrimental to the company due to the fact that it reduces its role in other segments of the production chain such as petrochemicals, renewable energy, fertilizers etc., is detrimental to Petrobras' national shareholders because it contributes to have smaller gains, is detrimental to the Brazilian population because it contributes to an excessive increase in the prices of gasoline, diesel and LPG by adopting a price policy of petroleum derivatives of parity with international oil prices and is detrimental to national sovereignty because it opens space for the penetration of competitors in the area of refining and exploration of the Pre-Salt, contributing to the weakening of Petrobras, which is one of the levers of development in Brazil.
Antônio Campos, que representa a Noronha advogados em Recife, palestrou sobre economia criativa e oportunidade de negócios entre Brasil e Portugal no seminário Intercâmbio de negócios internacionais, no Gabinete Português de leitura em Recife, em evento realizado pelo World Trade Center de São Paulo, com patrocínio do banco Santander.
Palestra proferida pelo sócio Daniel H.C. Alvarenga no 2º Grande Encontro de Escritórios de Advocacia e Oportunidades de Estágio – OAB/SP, São Paulo, 08 de abril de 2017.
Palestra proferida no encontro realizado pela Associazione Culturale Mediterraneo, ANPI Sezione di Levanto e Comitato Vallesanta em 07 de junho de 2016, Levanto, Itália.
Presidente da UBE homenageia Dom Duarte de BragançaNoronha Advogados
Pronunciamento do Presidente da União Brasileira de Escritores por ocasião da entrega da Medalha Jorge Amado a Dom Duarte de Bragança em Lisboa, Portugal, 15 de dezembro de 2015.
UBE - Condenação à morte de poeta na Arábia SauditaNoronha Advogados
Manifesto escrito pelo Presidente da UBE, Durval de Noronha Goyos Jr. para o Ministro da Justiça Dr. Walid bin Mohammed bin Saleh Al-Samaani referente ao Poeta Palestino Ashraf Fayadh.
Ambasciatore del Brasile Ricardo Neiva per ocasione del lancio del libroNoronha Advogados
Parole del Ambasciatore del Brasile, Sig. Ricardo Neiva Tavares, per ocasione del lancio del libro "La campagna dela Forza di Spedizione Brasiliana per la Liberazione d'Italia", nella ambasciata del Brasile, Roma, 15 ottobre 2014.
Parole del Signor Mario Giro sotto segretario di stato per gli affari esteri ...Noronha Advogados
Parole del Signor Mario Giro sotto segretario di stato per gli affari esteri della reppublica italiana per ocasione del lancio libro “La campagna della Forza di Spedizione Braziliana per la liberazione d’Italia, nella ambasciata del Brasile, Roma, 15 ottobre, 2014.
Ambassador of Brazil Ricardo Neiva on the occasion of the launch of the bookNoronha Advogados
Words from the Ambassador of Brazil, Mr. Ricardo Neiva Tavares, on the occasion of the launch of the book “The Campaign of the Brazilian Expeditionary Force for the Liberation of Italy” at the Brazilian Embassy in the city of Rome, 15 October 2014.
La Campagna della Forza de Spedizione Brasiliana per la liberazione d’ItaliaNoronha Advogados
Parole del Avv. Dott. Durval de Noronha Goyos per ocasione del lancio del libro “La Campagna della Forza de Spedizione Brasiliana per la liberazione d’Italia, nella ambasciata del Brasile, Roma, 15 ottobre 2014.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
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The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. Av. Rio Branco, 89 - Sala 901 - 20040-004 Rio de Janeiro RJ Brasil
Email: noadrio@noronhaadvogados.com.br
Tel: (021) 2233-9322 / Fax: (021) 2233-9407
Energy Clipping
Issue no.: 01/2016
Oil & Gas
08/01/2016 - Pre-Salt remains competitive even with oil prices falling, Petrobras says
Petrobras confirmed (07 January 2016) the technical and economic feasibility of pre-salt
operations “even considering the current adverse scenario of oil”. On the day before,
barrel price was negotiated, for the first time in 11 years, at below US$ 35, the lowest
level since June 2004. “It has been possible to optimise the breakeven [minimum
economic viable price of the barrel] of pre-salt and our current estimate already shows
values lower to the ones previously disclosed, confirming the economic competitiveness
of pre-salt, even considering the current unfavourable scenario for oil prices”, Petrobras
commented in response to the questioning on pre-salt feasibility in a scenario where the
barrel price is traded at US$ 35. In a statement released in the end of December, the
state-controlled oil company informed having reduced its extraction costs (one of the
main costs in the breakeven calculation) which represents an amount equivalent to less
than half of the competition’s cost. “With new technologies, we have reached a level of
approximately US$ 8 per barrel, while the average of the big oil companies worldwide is
of US$ 15 per barrel”, Petrobras informed when confirming the production target in
2015 to 2.125 million bpd.
https://www.portosenavios.com.br/noticias/ind-naval-e-offshore/32866-pre-sal-segue-
competitivo-mesmo-com-petroleo-em-queda-diz-petrobras
08/01/2016 - Petrobras reiterates investment target of US$ 19 billion for 2016
In a clarification statement issued on Thursday 7 January 2016, by the Brazilian Security
and Exchange Commission (CVM), Petrobras confirmed the maintenance of the
investment target of US$ 19 billion for 2016, as previously announced on 5 October
2015.
2. Av. Rio Branco, 89 - Sala 901 - 20040-004 Rio de Janeiro RJ Brasil
Email: noadrio@noronhaadvogados.com.br
Tel: (021) 2233-9322 / Fax: (021) 2233-9407
http://www.valor.com.br/empresas/4383416/petrobras-reafirma-meta-de-
investimentos-de-us-19-bilhoes-para-2016
12/01/2016 - Petrobras reduces investment plans for 2015-2019
Petrobras’ Board of Directors reduced the investment plan of the Company for the
period 2015-2019 to US$ 98.4 billion, a cut of US$ 32 billion on the initial projections,
mainly due to the optimisation of the projects portfolio and the currency exchange
effect, according to the statement released on Tuesday (12 January). The investment
predicted for Exploitation and Production for the 2015-2019 period is now of US$ 80
billion. Supply, by its turn, shall invest US$ 10.9 billion, followed by Gas and Energy with
US$ 5.4 billion, and the remaining sectors, with US$ 2.1 billion. The investment
adjustments aim at preserving the fundamental objectives of leveraging and generation
of value to investors (...) in light of the new oil price standards and foreign currency
exchange rate, Petrobras said.
http://br.reuters.com/article/topNews/idBRKCN0UQ1FE20160112?pageNumber=2&virt
ualBrandChannel=0
13/01/2016 - Petrobras says that investing in Pre-Salt is priority
On a statement released to the market on Tuesday, 12 January, where Petrobras
announced adjustments to the business plan for the period between 2015 and 2019, the
company reiterated the message of austerity – projecting a US$ 32 billion cut along the
period of four years. The investments in the areas of Exploitation and Production, where
the pre-salt projects are allocated, received greater participation in the oil company’s
budget. Instead of 80% of the US$ 98.4 billion to be invested until 2019, the segment
will have 81% - an increase of US$ 1.3 billion. "We will maintain our absolute priority in
the pre-salt. We have achieved excellence in petroleum extraction from deep waters,
having a cost of US$ 8 per barrel – almost half of the performance of big oil companies ",
said the President of the state-controlled oil company, Aldemir Bendine.
3. Av. Rio Branco, 89 - Sala 901 - 20040-004 Rio de Janeiro RJ Brasil
Email: noadrio@noronhaadvogados.com.br
Tel: (021) 2233-9322 / Fax: (021) 2233-9407
http://economia.estadao.com.br/noticias/geral,petrobras-diz-que-investir-no-pre-sal-e-
a-prioridade,10000006920
13/01/2016 – Petrobras Disinvestment Plan must become reality
In 2016, the main challenges of the petroleum segment will be the following: approval
of the Senate Draft Bill (PLS) No. 131 – authored by Senator Jose Serra with the
objective to amend the Law of Apportionment (Lei da Partilha), putting an end to the
obligation of Petrobras owning a minimum of 30% of the pre-salt areas and to the
operation monopoly of those areas-, establishing a calendar for bids and modifying the
Local Content policy. From the viewpoint of Petrobras specifically, it is necessary to
approve and make its disinvestment project a reality. The main change consists in selling
its participation and control over the operation of certain assets, like TAG (gas transport
company), and focus its investments on the exploitation and production of oil and gas. It
is necessary to be audacious and start including refineries in the disinvestment plan. In
2016, Petrobras has to dramatically reduce its costs and review, once again, as done in
2015, its investment plan. In addition, the government has to establish a price policy for
fuels capable of generating revenue for the company and, for that, in 2016 it will be
necessary to maintain the prices always above the international market practice. In view
of the dramatic circumstances of the oil company with regards to its debts, it is crucial
that the government finds a way to inject funds in the company’s accounts. The market
expectation that the dollar remains above R$ 4 in 2016 compels Petrobras to depend on
financial assistance of its controlling shareholder. Finally, it is essential that the company
shows to the market confidence that there is still corporate governance and that the
relationship between the executive board and the Board of Directors will follow what
established under the corporate governance rules of the company.
https://www.portosenavios.com.br/noticias/ind-naval-e-offshore/32912-plano-de-
desinvestimento-da-petrobras-precisa-virar-realidade
4. Av. Rio Branco, 89 - Sala 901 - 20040-004 Rio de Janeiro RJ Brasil
Email: noadrio@noronhaadvogados.com.br
Tel: (021) 2233-9322 / Fax: (021) 2233-9407
15/01/2016 - Dilma already considers increasing capital in Petrobras
President Dilma Rousseff Said that Petrobras “has been adapting” to the economic
difficulties it is facing, but she does not exclude the adoption of a government policy to
financially support the state-controlled company. During breakfast with journalists at
the Government House, the President said that the government will continue analysing
the effects of the oil prices fall before it decides to take action.
http://www.monitormercantil.com.br/index.php?pagina=Noticias&Noticia=180413
16/01/2016 - Petrobras announces its intention to sell Transpetro to generate cash
The company’s business plan until 2019 has been reduced in one quarter of the initial
plan. To reduce the short fall, Petrobras is also selling assets and, recently, it announced
the intention to sell its investment in Transpetro. The subject, however, is still object of
internal and external discussions and, despite denial by the finance director of the state-
controlled company, specialists believe that the sale of Transpetro will occur.
http://g1.globo.com/jornal-da-globo/noticia/2016/01/petrobras-anuncia-intencao-de-
vender-transpetro-para-fazer-caixa.html
19/01/2016 – The Government creates a programme to promote the Oil and Gas
sector
The Government created, via a decree, the Programme to Promote the Competitiveness
of the Production Chain, Development and Improvement of Oil and Gas Industry
Suppliers (Pedefor). The initiative has the objective to improve the Local Content policy
for oil and gas. Minister of Energy, Eduardo Braga, affirmed that the government is
analysing new regulatory measures that can boost the activity and, at the same time,
reduce costs of the Oil and Gas production chain. According to Braga, the text “already
provides a significant step forward, not only from the point of view of national
engineering, innovation”, but also relieves pressure of fines for non-compliance with
Local Content components, which may have been accumulated in the sector. The
Pedefor aims at encouraging oil and gas chain suppliers in the country, based on the
5. Av. Rio Branco, 89 - Sala 901 - 20040-004 Rio de Janeiro RJ Brasil
Email: noadrio@noronhaadvogados.com.br
Tel: (021) 2233-9322 / Fax: (021) 2233-9407
valuation, by the Local Content policy, of a percentage of Local Content higher than the
actual existing for goods, services and strategic character systems. The Pedefor also
establishes bonus with Local Content Units (UCL) to businesses that meet the
programme objectives. The UCLs may be used by a company or consortium for proof of
compliance with the Local Content commitments with the National Petroleum Agency
(ANP).
http://www.brasil.gov.br/economia-e-emprego/2016/01/governo-institui-programa-de-
estimulo-ao-setor-de-petroleo-e-gas
26/01/2016 - Industry asks Dilma for incentives and unitisation to carry on
investments
In a meeting with President Dilma and Minister Eduardo Braga, Jorge Camargo,
president of IBP (Brazilian Institute of Oil, Gas and Biofuel), made it clear that the oil and
gas industry expects Dilma to announce the extension of Repetro (special customs
regime exempting goods for the oil industry from federal taxes) until 2019, and the
government to regulate the unitisation process of licensed areas with not yet licensed
areas of the Union to stimulate the recovery of the sector's investments. IBP believes
that regulation of unitisation can unlock investments of about US$ 120 billion. The
president of IBP defined the meeting as "frank" and highlighted the importance of an
open channel with the government. During the meeting, adjustments in the Local
Content policy and the industry plead for the end of Petrobras' single operation in the
sharing regime were also discussed.
https://www.portosenavios.com.br/noticias/ind-naval-e-offshore/33045-setor-de-
petroleo-pede-a-dilma-incentivo-e-unitizacao-para-retomar-investimentos
26/01/2016 - IBP: Government to allow foreign companies operating in Pre-Salt
According to Jorge Camargo, President of the Brazilian Institute of Oil, Gas and Biofuels–
IBP, who had a meeting with President Dilma Rousseff and the Minister of Energy,
Eduardo Braga, the government intends to allow private companies to lead oil and gas
exploitation and production projects in the pre-salt area, in cases of unitisation, where
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oil reserves are discovered in an area adjacent to their concessions. Today, by law, only
Petrobras is allowed to operate in the pre-salt area. IBP estimates that there are
reserves of 8 to 13 billion barrels in areas of unitisation, much of it in the pre-salt, which
could be exploited by domestic and foreign companies besides Petrobras. The estimated
investment is of US$ 120 billion. The end of Petrobras monopoly for operating in this
region is currently being debated in Congress, where a draft bill by Senator José Serra is
under analysis.
http://epocanegocios.globo.com/Economia/noticia/2016/01/ibp-governo-sinaliza-
permitir-que-estrangeiras-operem-no-pre-sal.html
27/01/2016 - Shell says that its shareholders voted in favour of buying BG
Shell's shareholders voted in favour of buying the British company BG in a meeting held
on Wednesday (27/01), with the approval of 83.03% of the participants, according to
the Anglo-Dutch company. The next step is the vote by BG shareholders, the company
said in a statement. If also approved by BG, the deal is expected to be closed on 15
February, according to Shell. With the deal, Shell will have great relevance in the
Brazilian oil industry. That is due to the fact that BG is currently the main partner of
Petrobras in the pre-salt and the second largest producer of oil and gas in the country,
only behind the Brazilian state-controlled company.
http://br.reuters.com/article/idBRKCN0V51KT
28/01/2016 - Petrobras reforms structure and governance model
The Board of Directors of Petrobras approved in a meeting held on Wednesday (27/01),
the new organizational structure and new model for management and governance of
the company. The reform occurs as part of the company's response to the new reality of
the oil and gas industry, which has led Petrobras to prioritize more profitable activities,
making it more competitive. The restructuring involves the redistribution of activities,
fusion of areas and review of the decision-making model. One of the main objectives is
to increase control and compliance mechanisms. With the changes, cost reduction is
estimated to reach up to R$ 1.8 billion per year. It is also planned the reduction of at
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least 30% in the number of managerial roles in non-operational areas. The company has
about 7500 approved management functions, of which 5300 are in non-operational
areas. The redesign fits the structure and management to the vision established by the
Business Plan 2015-2019, which has ultimate goals of creating value and deleveraging. In
addition, it expands the company's effort to strengthen its mechanisms of control,
compliance and transparency.
https://www.portosenavios.com.br/noticias/ind-naval-e-offshore/33098-petrobras-
reforma-estrutura-e-modelo-de-governanca
Energy Market in General
11/01/2016 – Ministry of Energy approves guidelines for the operation of Bid A-5,
2016
The guidelines of the New Energy Purchase Bid (Bid A-5, provided for in MME Ordinance
No. 382/2015) was published on Monday (11/01). The dispute is scheduled for March
31, 2016. The MME Ordinance No. 14/2016 stipulates that the bid will consist of two
phases: the first to dispute the participation right of each hydropower plant with a
capacity greater than 50 MW; and second to dispute the other projects, from various
sources. This is the first new energy bid that will negotiate simultaneously four distinct
products, with contracts based on quantity and on availability with supply starting in
2021. They are the following: a product by quantity for hydroelectric projects, with a 30-
year supply period; product by thermoelectric availability of biomass and coal for
biomass ventures and coal ventures, with a 25-year supply period; a product by
thermoelectric availability of natural gas, for natural gas combined cycle ventures, with
a 20-year supply period; and a product by wind availability for wind farms, with a 20-
year supply period. In addition, the system was adapted to support the participation in
bids for new energy ventures which already have a concession grant or authorization,
provided that the business has not entered into commercial operation within one year
before the date of the bid. The participation of these enterprises is established by Law
10848/2004. The Ministry of Energy established a simplified procedure so that the
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generators of these electrical energy generation projects, whose energy was sold at
previous bids but who still have part of the energy not sold, provide this energy to the
regulated market in this bid. The condition is that these ventures have not started
operating until March 31, 2015.
http://www.mme.gov.br/web/guest/pagina-inicial/outras-noticas/-
/asset_publisher/32hLrOzMKwWb/content/mme-aprova-sistematica-de-realizacao-do-
leilao-a-5-de-2016
12/01/2016 – Santander and Canadian funds invest R$ 2 billion in wind energy in
Brazil
Cubico Sustainable Investments, a company formed by Banco Santander and two
Canadian pension funds, closed the purchase of two wind farms in north-eastern Brazil
for R$ 2 billion, including debt assumption. Cubico, set up last year to invest in
renewable energy and sanitation in Latin America and Europe, inherited from Santander
energy assets, which led the company to a total portfolio in Brazil of 615 megawatts in
wind farms, all in operation. In the target of the company are mainly wind farms, but
also solar and small hydro energy ventures - all sources with which Santander already
works or has worked in the past.
http://economia.estadao.com.br/noticias/negocios,cubico-compra-dois-complexos-
eolicos-por-r-2-bi-no-brasil,10000006770
15/01/2016 - Brazil is the fourth country where wind power is the fastest growing in
the world
Brazil is already in the list of the largest wind power producers in the world. The survey
"Wind Power in Brazil and the World", from the Ministry of Energy, points out that the
country has the fourth place in the world ranking of wind power expansion in 2014.
Brazil has already negotiated about 16,600 MW wind energy in bids, with approximately
1400 MW been secured through the Alternative Energy Sources Incentive Program
(Proinfa). Of the total negotiated, 7800 MW are already in operation. The negotiated
value is equivalent to the energy generated by the Itaipu hydropower plant. According
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to the 10-Year Plan for Energy Expansion (PDE 2024), the government estimates that the
installed wind capacity in Brazil will reach around 24,000 MW.
https://www.portosenavios.com.br/noticias/ind-naval-e-offshore/33045-setor-de-
petroleo-pede-a-dilma-incentivo-e-unitizacao-para-retomar-investimentos
18/01/2016 – Clean energy investments hit record in 2015
Data shows that the world is increasingly investing in the clean energy sector. Last
year, a total of US$ 329.3 billion was spent on solar and wind projects. The amount is
4% higher than that recorded in 2014, according to a report issued by Bloomberg New
Energy Finance. The behaviour of investors was to seek new channels after the fall in
the oil prices, which eventually lead them to renewable sources. Emerging economies
are the main destinations of investment in the sector due to a number of factors, such
as the ability to quickly meet the demand not satisfied by electricity, cheaper cost of
production, reduction of the country exposure to fossil fuels prices, as well as its
environmentally sustainable nature.
http://www.petronoticias.com.br/archives/79198
22/01/2016 – Government will increase about R$ 6 billion capital in Eletrobras
The government will promote the capital increase in the amount of R$ 5.95 billion in
Eletrobras this year, which should apply the funds to prepare the privatisation of six
distributors: Companhia Energética do Piauí (Cepisa), Companhia Energética de
Alagoas (Ceal), Companhia de Eletricidade do Acre (Eletroacre), Centrais Elétricas de
Rondônia S.A. (Ceron), Boa Vista Energia S.A. and Amazonas Distribuidora de Energia
S.A. In the 2016 Budget, sanctioned last week by President Dilma Rousseff, the
disbursement is already anticipated, and is equivalent to the second instalment of the
signing bonus charged by the government in a bid of old hydropower plants last year.
The bid raised a total of R$ 17 billion. With the investment, the government will be
able to renew the concession agreement of the six distributors. After the renewal of
contracts, the federal government may begin the process of privatisation of the
distribution companies linked to Eletrobras, as it is the case of CELG, from the state of
Goias, to be sold in the coming months. With the distributors sale, the government
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plans to raise more than the R$ 6 billion that will be contributed to the capital of
Eletrobras.
http://oglobo.globo.com/economia/governo-fara-capitalizacao-de-quase-6-bilhoes-na-
eletrobras-este-ano-18519427
25/01/2016 - Energy and infrastructure should receive R$ 35bi from BNDES in 2016
BNDES plans to increase by 10% spending for infrastructure and energy this year, said
the Bank's president, Luciano Coutinho to newspaper Folha de São Paulo. "Resources
for infrastructure and energy will not be suppressed this year, especially renewable
energy", he said in Davos, Switzerland, where he participated in the World Economic
Forum. "In 2015, we disbursed around R$ 31 billion on direct investment in
infrastructure, not considering the resources via bank. In 2016, we expect growth on
these figures to something around R$ 35 billion", he said.
http://www1.folha.uol.com.br/mercado/2016/01/1733141-energia-e-infraestrutura-
devem-receber-r-35-bi-do-bndes-em-2016.shtml
Noronha Advogados,
London and Rio de Janeiro offices
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