|Over a week ago|
Transocean announces Petrobras exercises options for two rigs » 16:1811/1811/18/20
Transocean (RIG) announced that Petrobras (PBR) has exercised a 680-day pre-existing, fixed price option for the Deepwater Corcovado, and a 815-day pre-existing, fixed price option for the Deepwater Mykonos. Together these contract extensions add approximately $297M to Transocean's backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed dayrate escalations.
|Over a month ago|
Unusual call flow in option market yesterday » 07:3509/3009/30/20
TSLA, NIO, CCL, PBR, MTG
Notable call activity was…
Notable call activity was cited Tuesday in Tesla (TSLA), NIO (NIO), Carnival (CCL), Petrobras (PBR), and MGIC Investment (MTG).
Long-dated Petrobras calls block sold tied to hedge might close April trade » 15:2009/2909/29/20
Long-dated Petrobras calls block sold tied to hedge might close April trade. Total of 30k Jan22 10 calls sold for 64c this morning in two blocks, tied to $7.12 stock. Possibly unwind a position opened in April for 97c when shares were 75c lower as part of the Jan 10/20 call spread bought for 83-84c.
Petrobras plans to spend $6B through 2024 to decommission assets, Reuters says » 17:4609/2809/28/20
Petrobras said it intends…
Petrobras said it intends to spend $6B through 2024 to decommission 18 offshore platforms, underwater gas pipelines, and offshore wells, Reuters' Sabrina Valle reports. In a presentation filed to the securities regulator, Brazil's state-controlled oil producer said it anticipates proceeds of $1B from divestments in 2020, after receiving $14.4B from asset sales last year, Valle notes. Reference Link
Hygo Energy CEO investigated in Brazil's 'Operation Car Wash' probe, Globo says » 11:3609/2409/24/20
HYGO, GLNG, SDRL, PBR
The Federal Police…
The Federal Police carried out 25 search and seizure warrants regarding the 75th phase of "Operation Lava Jato," or "Operation Car Wash," the ongoing criminal investigation by the Federal Police of Brazil, according to a translation of a report from Globo. The current phase investigates whether the shipping company Sapura in Brazil paid $40M in bribes for a $2.7B contract with Petrobras (PBR), said the translated report. According to the Federal Public Ministry, Sapura hired lobbyist Mauricio Carvalho to get inside information from Petrobras and help formulate the winning proposal and Carvalho passed on the information to Eduardo Navarro Antonello, who at the time represented the Seadrill Group (SDRL), the report said. The two companies and the two investigated were targets of search warrants, added Globo. Following the report, Golar LNG Limited (GLNG) has said: "The company is aware of the allegations that have been made against Hygo's Chief Executive, Eduardo Antonello. The allegations against Mr. Antonello involve conduct that predates and do not, in any way, implicate his work at Hygo. However, in an abundance of caution, Hygo has initiated a review to seek to confirm that there have not been any deviations from its culture of compliance in connection with Mr. Antonello's service to Hygo." Reference Link
SBM Offshore confirms contract negotiation for Petrobras FPSO » 06:5709/1509/15/20
As announced by…
As announced by Petrobras, SBM Offshore confirms it has entered into negotiations with Petrobras for a charter contract for the FPSO Almirante Tamandare which will operate in the Buzios field which is part of the Santos basin, offshore Brazil. The anticipated production capacity of the unit is 225,000 barrels of oil and 12 million m3 of gas per day. If and when an agreement is reached, SBM Offshore will inform the market.
|Over a quarter ago|
Petrobras put volume heavy and directionally bearish » 09:5508/2008/20/20
Bearish flow noted in…
Bearish flow noted in Petrobras with 3,537 puts trading, or 1.3x expected. Most active are Oct-20 8 puts and Sep-20 7 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 3.40, while ATM IV is up over 2 points on the day. Earnings are expected on October 28th.
Petrobras call volume above normal and directionally bullish » 12:0508/0308/03/20
Bullish option flow…
Bullish option flow detected in Petrobras with 49,485 calls trading, 3x expected, and implied vol increasing almost 3 points to 53.40%. Aug-20 9 calls and 8/14 weekly 8 puts are the most active options, with total volume in those strikes near 32,900 contracts. The Put/Call Ratio is 0.38. Earnings are expected on October 28th.
Petrobras looks to sell Tayrona exploratory block in Colombia, Reuters reports » 06:4307/2807/28/20
Petrobras has published a…
Petrobras has published a prospectus in regards to the sale of its stake in the Tayrona exploratory block located at Guajira bay in Colombia, Marcelo Rochabrun of Reuters reported, citing a securities filing. Petrobras has reportedly been divesting a multitude of its assets in an effort to raise cash and lower debt. Petrobras has paid $3.5B in debt attributed to its revolving credit lines and used a total of $8B from the lines to combat the COVID-19 pandemic, according to a separate filing. Reference Link
Petrobras set to receive bids for Bahia refinery on Thursday, Reuters says » 14:0406/2406/24/20
Petrobras (PBR) is poised…
Petrobras (PBR) is poised to receive binding bids for Brazil's second-biggest refinery on Thursday, as the company seeks to restart a plan to divest over $10B in assets, Reuters' Tatiana Bautzer, Carolina Mandl, Gram Slattery, and Sabrina Valle report, citing five people with knowledge of the matter. If the deal for the Landulpho Alves refinery is finalized, it would mark a first in the producers' efforst to end its near-monopoly in refining in the country and open one of the top ten fuel markets across the globe for private investors, the authors note. Potential suitors for the refinery in Bahia include UAE investor Mubadala Investment Co PJSC, as well as China's Sinopec (SNP), the authors say. Reference Link