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Emergency Situation On Petrobras Oil Platform Revealed After Decline In State-Owned Company’s Shares

Written by Paulo Nogueira
Published on 09/07/2023 at 20:14
Petrobras GranEnergia P31 P50 Macaé contrato
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Northeast Fluminense Oil Workers’ Union Announces Problems at Platform P-31

On the previous Saturday, Petrobras (PETR3;PETR4), the Brazilian oil giant, reported that the P-31 platform, located in the Albacora field in the Campos Basin, suffered a rupture in two of its mooring lines last Wednesday (03).

Circumstances of the Rupture and Petrobras’ Response

According to reports from Broadcast, during the incident, the platform was undergoing a scheduled maintenance shutdown. This prevented Petrobras’ production from being affected. When in operation, this unit has the capacity to generate an average of 16,000 barrels of oil per day.

In response to the incident, Petrobras stated: “The P-31 is anchored by eight moorings and we are monitoring the unit’s movement (sailing), which is in accordance with safety standards established in the project. The platform is stable and secure, presenting no risks to people or the environment”. Petrobras also assured that all regulatory authorities have been notified and that all necessary actions to repair the system are already underway.

The Northeast Fluminense Oil Workers’ Union (Sindipetro-NF), affiliated with the Unified Federation of Oil Workers (FUP), announced that it is monitoring the situation and confirmed that, at this moment, everything is indeed stabilized. The union also noted that on the day of the rupture, sea conditions were so adverse that they prevented landings and takeoffs at the unit.

Movement of Petrobras Shares After the Incident

Petrobras’ preferred shares (PETR4) closed Friday’s (07) trading session on the Stock Exchange down 0.51%, with a quote of R$ 29.50. PETR3 shares also ended down 0.54%, with shares trading at R$ 33.13. With the stock market reopening next Monday (10), it will be possible to assess the effect of this news on the oil company’s shares.

Information via Estadão Investor

Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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