Дорогие друзья! Больше трех лет я рассказываю вам об основных новостях, событиях, трендах на мировом рынке нефти и газа. Я делаю это бесплатно и без рекламы. Поэтому я прошу вас о помощи. Wognews нуждается в развитии. Вас больше 20 000 человек из более чем 80 стран мира. Если каждый пожертвует небольшую сумму денег, 500 или 1000 рублей, или больше, wognews станет лучше. Спасибо, Владимир Виноградов, основатель wognews.

Dear friends! For more than three years I've been telling you about the main news, events, trends in the world oil and gas market. I do it for free and without advertising. Therefore I ask you for help. Wognews needs development. You are more than 20 000 people from more than 80 countries. If each donate a small amount of money, $10, $20, $30 or more, wognews will become better. Thank you, Vladimir Vinogradov, the founder of wognews.
2015-07-01 19:05:00

PETROBRAS 37% DOWN

PETROBRAS 37% DOWN

Brazil's Petrobras will cut its spending by 37 percent through the next four years in an effort to tame its enormous $110 billion debt.

The state-owned company said it will slash expenditures across its four segments by a little over a third through 2019.

The company now plans to spend $130 billion from 2015 to 2019, with exploration and production accounting for $108.6 billion of the budget plan.

Petrobras said 86 percent of its exploration and production budget will be allocated to production development, 11 percent to exploration and 3 percent for operational support.

The company added that exploration activities within Brazil will be concentrated on meeting the minimum exploratory program for each block.

The downstream segment will receive $12.8 billion of investments, with 69 percent going towards maintenance and infrastructure, 11 percent for the conclusion of the Abreu and Lima refinery and 10 percent for distribution.

The Gas & Power area will be allotted $ 6.3 billion, primarily for the construction of pipelines and processing units to treat gas from the company's pre-salt plays.

The cost cuts were accompanied by a downward revision in the company's domestic oil production target.

Petrobras now expects to produce an average of 2.8 million barrels a day by 2020, a huge drop from the company's previous 4.2 million barrel per day target, Bloomberg Business said.

The spending cuts may silence critics who worried that recently appointed Petrobras CEO Aldemir Bendine is too cozy with political insiders to make major changes that the troubled company.

"For the first time in many years we see a business plan that fits the company's reality and international scenario. It shows this management has a mandate," head of Rio-based infrastructure consulting firm CBIE Adriano Pires told Bloomberg.

The spending plan also anticipates additional efforts in the restructuring of businesses, demobilizing of assets and additional divestments, totaling $42.6 billion during 2017 and 2018.

Petrobras is currently the most indebted oil and gas company in the world with about $110 billion in net debt.

The company is still grappling with a corruption scandal that has landed several former executives in jail and prompted the resignation of former CEO Maria das Graças Foster.

petroglobalnews.com

Tags: PETROBRAS, OIL, GAS
PETROBRAS 37% DOWN September, 20, 09:05:00

OIL PRICE: ABOVE $55 YET

PETROBRAS 37% DOWN September, 20, 09:00:00

GAS PRICES UP TO $3.146

PETROBRAS 37% DOWN September, 20, 08:55:00

ЦЕНА URALS: $51,81591

PETROBRAS 37% DOWN September, 20, 08:50:00

U.S. OIL + 79 TBD, GAS + 788 MCFD

PETROBRAS 37% DOWN September, 20, 08:45:00

RENEWABLE'S FUTURE

PETROBRAS 37% DOWN September, 20, 08:40:00

TOTAL BUYS RENEWABLE

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Chronicle:

PETROBRAS 37% DOWN
September, 20, 08:35:00

BP - AZERBAIJAN OIL DEAL

BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.

PETROBRAS 37% DOWN
September, 20, 08:30:00

U.S. DEFICIT UP TO $123.1 BLN

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.

PETROBRAS 37% DOWN
September, 18, 12:35:00

OIL PRICE: ABOVE $55

U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.

PETROBRAS 37% DOWN
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

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