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Petrobras

Company Summary

Description

Petróleo Brasileiro S.A. – Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets. The company’s Refining, Transportation and Marketing segment is involved in the refining, logistics, transport, and trading of crude oil and oil products, as well as exports ethanol and invests in petrochemical companies.

Website

http://www.petrobras.com/en/home.htm

Operational Regions

  • Worldwide

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Company Transactions

Date: 12/27/2021
Type: Acquisition

BUYERS:
  • Carmo Energy S.A.
    • SELLERS:
  • Petrobras
    • DETAILS:

    COST: 1.1 $B

    NOTES:
    Petrobras has sold off its position in the onshore Polo Carmópolis of Brazil to Carmo Energy for $1.1 billion. They will pay $275 million up font, $550 million upon closing and another $275 million after the first year following closing. The area spans 11 onshore concessions in the Brazilian state of Sergipe.
    REGIONS:
  • South America

    • Date: 4/29/2021
    Type: Acquisition

    BUYERS:
  • Itausa SA
  • Brookfield Asset Management
    • SELLERS:
  • Petrobras
    • ASSETS:
  • Nova Transportadora do Sudeste SA
    • DETAILS:

    COST: 337 $MM

    NOTES:
    Petrobras has cleared a sale of a 10% stake in their Nova Transportadora do Sudeste (NTS) Gas Pipeline Network for $337 million into Brookfield and Itausa SA.
    REGIONS:
  • South America

    • Date: 3/31/2021
    Type: Acquisition

    BUYERS:
  • Mubadala Investment Co.
    • SELLERS:
  • Petrobras
    • ASSETS:
  • Refinaria Landulpho Alves (RLAM)
    • DETAILS:

    VOLUMES: 323 M Bbls/d

    NOTES:
    Brazil's Petrobras has reached a deal to divest the 323 Mbbl/d Refinaria Landulpho Alves (RLAM) crude refinery to Abu Dhabi's Mubadala Investment for $1.65 billion.
    REGIONS:
  • South America

    • Date: 9/30/2020
    Type: Acquisition

    BUYERS:
  • ENGIE S.A.
    • SELLERS:
  • Petrobras
  • Transportadora Associada de Gas (TAG) Pipelines
    • DETAILS:

    COST: 187.5 $MM

    NOTES:
    Engie has entered into a deal with Petrobras to acquire their remaining 10% stake in the TAG Pipeline company for $187.5 million. They had already purchased a 90% stake in 2019.
    REGIONS:
  • South America

    • Date: 9/30/2020
    Type: Acquisition

    BUYERS:
  • Karoon Energy
    • SELLERS:
  • Petrobras
    • DETAILS:

    COST: 665 $MM

    NOTES:
    Petrobras has adjusted its planned $665 million contracts for the sale of its Baúna oil field to Karoon Energy. The new terms will see Australia's Karoon pay an initial $380 million for the asset, including a $49.9 million down payment on July 24 and $150 million paid upon closing. The remaining $380 million will be paid via 18 monthly installments after close and a further installment of $285 million is to be paid through 2026.
    REGIONS:
  • Australia

    • Date: 1/15/2020
    Type: Acquisition

    BUYERS:
  • Africa Oil Corp
    • SELLERS:
  • Petrobras
  • Petrobras Oil and Gas BV
    • DETAILS:

    COST: 519.5 $MM

    VOLUMES: 33.63 M Bbls/d

    NOTES:
    Africa Oil has closed on the purchase of a 50% stake in Petrobras Oil and Gas BV, a subsidiary of Petrobras, for a cost of $519.5 million. The deal includes an indirect 8% interest in Oil Mining Lease 127 and an indirect 16% interest in OML 130. The assets have gross production of 442 Mbbl/d, of which Aftrica Oil's share is 33.63 Mbbl/d.
    REGIONS:
  • Africa

    • Date: 3/30/2019
    Type: Acquisition

    BUYERS:
  • Chevron Corporation
    • SELLERS:
  • Petrobras
  • Pasadena Refining Systems Inc
  • PRSI Trading Company
    • ASSETS:
  • Chevron Pasadena Refinery
    • DETAILS:

    COST: 350 $MM

    NOTES:
    Chevron signed a share purchase agreement with Petrobras to acquire all the outstanding shares and equity interests of Pasadena Refining System, Inc., which includes the refinery in Pasadena, Texas and PRSI Trading, LLC for $350 million.
    REGIONS:
  • Houston Ship Channel

    • Date: 3/11/2019
    Type: Acquisition

    BUYERS:
  • BW Offshore Ltd
    • SELLERS:
  • Petrobras
    • DETAILS:

    COST: 90 $MM

    VOLUMES: 125 MM Bbls

    NOTES:
    BW Offshore acquired 70% of the Maromba field offshore Brazil for $90 million from Petrobras. Internal estimates reveal potential recoverable resources of 100 - 150 MMbbls of low-sulfur 16 API oil in Maastrichtian sandstone reservoir.
    REGIONS:
  • South America

    • Date: 10/1/2018
    Type: Joint Venture

    BUYERS:
  • Murphy Oil Corporation
    • SELLERS:
  • Petrobras
  • Petrobras America Inc
    • DETAILS:

    COST: 900 $MM

    VOLUMES: 41 MBOE/d

    NOTES:
    Murphy Oil and Petrobras entered into a definitive agreement to form a new joint venture comprised of Gulf of Mexico assets from Murphy and Petrobras with Murphy overseeing operations. The deal contains an effective date of October 1, 2018, and is expected to close by year-end 2018. Murphy Oil will pay $900 million to Petrobras, who will earn an additional contingent consideration of up to $150 million if certain price and production thresholds are exceeded between 2019-2025. The deal also sees Murphy receive 41 Mboe/d to their Gulf of Mexico production while also adding roughly 60 MMboe of proven reserves and 86 MMboe of proven and profitable reserves (97% oil).
    REGIONS:
  • Gulf of Mexico