Latest news with #MagdaChambriard
Reuters
3 days ago
- Business
- Reuters
Exclusive: Petrobras may redirect oil to Asia due to US tariff on Brazil, CEO says
RIO DE JANEIRO, July 17 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab may redirect the oil it sells to the United States, sending more to Asia and Pacific markets due to higher tariffs the U.S. announced on Brazil, its chief executive told Reuters on Thursday. Although oil and gas exports make up a hefty share of Brazil's exports to the United States, Petrobras CEO Magda Chambriard said it is not an essential market for the firm. "It is not much that we export (to the U.S.). In general, we are not very worried," she said in her first public comments about the 50% tariff U.S. President Donald Trump announced last week.
Business Insider
07-07-2025
- Business
- Business Insider
Petrobras debates selling onshore operations in Brazil's Bahia, Bloomberg says
Petrobras (PBR) is considering the sale of its onshore operations in Brazil's Bahia state, Mariana Durao of Bloomberg reports, citing comments made by CEO Magda Chambriard. Producing oil and gas at Polo Bahia Terra is too expensive given it yields less than a single well on the pre-salt, Chambriard told journalists. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Time of India
07-07-2025
- Business
- Time of India
Petrobras weighs options for Polo Bahia onshore fields, including sale, says CEO
Brazil's state-run oil firm Petrobras is weighing options for its Polo Bahia onshore oil fields, including a potential sale, Chief Executive Magda Chambriard said on Saturday, adding that any decision will prioritize returns and shareholder interests. The Polo Bahia hub, consisting of some 28 onshore fields, was previously listed for sale under former President Jair Bolsonaro's divestment strategy. President Luiz Inacio Lula da Silva pulled it off the market after he took office in 2023 and ended Bolsonaro's divestment strategy. Chambriard said the current operation at the Polo Bahia produces very little oil but requires significant effort. Extracting from those onshore fields was more viable when oil prices were higher, at $90-$100 per barrel, than it is at the current $65 per barrel, she added. "This is on our table and we haven't decided yet what we're going to do, whether to keep it with us, outsource the operation or transfer the asset. It's on the table, we're studying it and we're going to do what's best and most profitable for us and our shareholders," Chambriard said during the Strategic Forum for the Brazil-China Naval Industry in Rio de Janeiro. Asked if the company could replicate this analysis for its Urucu operation in Amazonas state, Chambriard declined to comment on potential divestment plans, and said Urucu produces "the best oil, the most valued." Also on Saturday, Brazilian and Chinese shipyards signed memorandums of understanding to foster technological and commercial collaborations, aligning with increased demand for Petrobras vessels.>
Reuters
05-07-2025
- Business
- Reuters
Petrobras weighs options for Polo Bahia onshore fields, including sale, says CEO
RIO DE JANEIRO, July 5 (Reuters) - Brazil's state-run oil firm Petrobras ( opens new tab is weighing options for its Polo Bahia onshore oil fields, including a potential sale, Chief Executive Magda Chambriard said on Saturday, adding that any decision will prioritize returns and shareholder interests. The Polo Bahia hub, consisting of some 28 onshore fields, was previously listed for sale under former President Jair Bolsonaro's divestment strategy. President Luiz Inacio Lula da Silva pulled it off the market after he took office in 2023 and ended Bolsonaro's divestment strategy. Chambriard said the current operation at the Polo Bahia produces very little oil but requires significant effort. Extracting from those onshore fields was more viable when oil prices were higher, at $90-$100 per barrel, than it is at the current $65 per barrel, she added. "This is on our table and we haven't decided yet what we're going to do, whether to keep it with us, outsource the operation or transfer the asset. It's on the table, we're studying it and we're going to do what's best and most profitable for us and our shareholders," Chambriard said during the Strategic Forum for the Brazil-China Naval Industry in Rio de Janeiro. Asked if the company could replicate this analysis for its Urucu operation in Amazonas state, Chambriard declined to comment on potential divestment plans, and said Urucu produces "the best oil, the most valued." Also on Saturday, Brazilian and Chinese shipyards signed memorandums of understanding to foster technological and commercial collaborations, aligning with increased demand for Petrobras vessels.
Bloomberg
05-07-2025
- Business
- Bloomberg
Petrobras Taps Chinese Companies to Help Revive Shipbuilding
Petrobras Chief Executive Officer Magda Chambriard said the Brazilian oil producer is seeking Chinese investment to help upgrade its shipping and infrastructure. A memorandum of understanding Saturday included China's Cosco, Offshore Oil Engineering Co., China State Shipbuilding Co. and China International Marine Containers Ltd. and Brazilian peers EBR, Rio Grande, Maua, Enseada and Atlantico Sul. State-controlled Petroleo Brasileiro SA and its Transpetro logistics subsidiary will serve as anchors for potential technological and business partnerships.
