Petrobras Will Issue R$3 Billion in Debentures to Fund Oil Exploration

Written by Paulo Nogueira

Published on 25/07/2019 at 01:00

Updated on 24/07/2019 at 17:51

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Petrobras Announced That Its Board of Directors Approved a Debenture Issuance in the Initial Amount of 3 Billion Reais

Petrobras reported that the objective of the board approving the issuance of debentures in the amount of 3 billion reais was to finance the exploration and production of oil and gas fields and to strengthen its cash position.

The state-owned company announced the news on the night of Tuesday, July 23. The company also stated that it expects to place at least 1 billion reais in the operation and that it may further increase the operation by up to 20% of the initial amount, or up to 600 million reais.

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Petrobras Sells 35% of BR Distribuidora for 2.5 Billion Dollars

Liquidation of national assets continues to accelerate; on Tuesday, July 23, Petrobras, under the leadership of Roberto Castello Branco, sold 35% of BR Distribuidora for US$ 2.5 billion, about R$ 9 billion; with the operation, Petrobras retained 37%, and thus, BR Distribuidora became a private company.

The state-owned company reduced its stake from 71.25% to 45.25% in the company. In practice, the state stops controlling BR.

The transaction attracted 160 investors from various countries, including the United Kingdom, Canada, and the United States, among others. The banks involved in the operation are Merril Lynch, Citi, Credit Suisse, JP Morgan, Santander, Itaú, and XP.

The resources are expected to enter the company’s cash to help reduce its indebtedness.

Operators are Expected to Drill Around 250 Development Wells in 2020. According to the National Petroleum Agency – ANP, 65 of the 250 wells will be drilled in the Santos Basin by operators next year. The remaining basins with development responsibilities scheduled for 2020 are Potiguar (53), Sergipe (46), Campos (41), Espírito Santo (29), Recôncavo (13), Parnaíba (3), and Alagoas (3).

Petrobras Will Issue R$3 Billion in Debentures to Fund Oil Exploration

Petrobras Announced That Its Board of Directors Approved a Debenture Issuance in the Initial Amount of 3 Billion Reais

Petrobras Sells 35% of BR Distribuidora for 2.5 Billion Dollars

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

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The seemingly endless sand is disappearing: the world extracts 50 billion tons per year from rivers and beaches, a volume comparable to 19,000 pyramids of Giza, while mafias profit, islands disappear, and city concrete is threatened until 2050.

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Petrobras Will Issue R$3 Billion in Debentures to Fund Oil Exploration

Petrobras Announced That Its Board of Directors Approved a Debenture Issuance in the Initial Amount of 3 Billion Reais

Petrobras Sells 35% of BR Distribuidora for 2.5 Billion Dollars

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Kia emerges with the “ugliest pickup truck in the world”: even with a 2.2 turbo diesel engine with 210 hp, 4×4 traction, a capacity of 3.5 tons, and a goal of 20,000 annual sales, the Tasman sells only 320 units and becomes a problem for the brand in Australia.

Kia emerges with the “ugliest pickup truck in the world”: even with a 2.2 turbo diesel engine with 210 hp, 4×4 traction, a capacity of 3.5 tons, and a goal of 20,000 annual sales, the Tasman sells only 320 units and becomes a problem for the brand in Australia.

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Country ‘tears’ the sea with 340-meter underwater tunnels under the Atlantic to capture saltwater and build a megaproject capable of producing up to 100 million liters of drinking water per day in West Africa.

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The seemingly endless sand is disappearing: the world extracts 50 billion tons per year from rivers and beaches, a volume comparable to 19,000 pyramids of Giza, while mafias profit, islands disappear, and city concrete is threatened until 2050.

Scientists drill 8,000 feet of ice in Antarctica and race against time before the hole freezes over again to bury the world’s deepest seismometers and turn the South Pole into a giant ear for earthquakes across the entire planet.

Rice in space becomes a scientific bet for China to understand how microgravity can alter the genetics of the most important grain for Asian food security and reveal if future generations of the plant can be born, grow, and maintain their biological identity away from Earth.

How much would a Toyota Hilux cost without tax in Brazil? A diesel pickup truck priced at R$ 250,000 could drop to around R$ 127,000, showing why pickup trucks have become a luxury product in the country.

Windows without a prison-like appearance gain momentum in 2026 and promise to completely transform residential facades with more natural lighting, discreet security, increased property value, and a modern look without the burden of the old iron bars that dominated Brazilian homes for decades.