E&P

Petrobras Says End of SBM Contracts Could Cut Profit $15B

Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018...

Reuters
07/07/2014 19:22
Visualizações: 1718 (0) (0) (0) (0)

Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing.

 

The potential reduction in profit is based on an estimate of the amount of lost oil and natural gas output and additional spending needed if Petrobras had to stop using the floating oil production platforms leased from SBM, it said in the Saturday filing.

 

The estimate was made in response to a request by Brazil's Office of the Comptroller General (CGU), Petrobras said in the filing. The CGU is the Brazilian federal-government agency responsible for the protection of public property.

 

SBM is the subject of investigations in Brazil, the Netherlands and the United States over the alleged payment of $250 million in bribes in Africa and South America, with $139 million of that allegedly paid in Brazil.

 

The Comptroller General's office opened an investigation into SBM's contracts with Petrobras in April.

 

Petrobras, formally known as Petroleo Brasileiro SA, added that the losses are hypothetical and that the Comptroller General has not recommended that contracts with SBM be suspended.

 

SBM, based in Schiedam, the Netherlands, is the world's largest leaser of floating production, storage and offloading, or FPSO, vessels. FPSOs are used to produce oil in deepwater offshore fields. The company has 15 leased FPSO and related vessels, with six operating in Brazil, according to its website.

Most Read Today
see see
Equatorial Margin
Rig chartered by Petrobras arrives in Amapá to take part...
19/08/25
FIRJAN
Rio gains Firjan SENAI Metalworking Reference Center
19/08/25
RD&I
CEPETRO develops for Petrobras a tool that integrates mu...
19/08/25
Pre-Salt
Búzios Field surpasses the record level of 900 thousand ...
19/08/25
Logistics
PetroReconcavo and Dislub build an unprecedented oil out...
19/08/25
IBP
NAVE Program advances with 21 energy sector startups
19/08/25
International Event
The 3rd Annual World ReAM Show Returns to Dubai, Bridgin...
13/08/25
Sustainability
ATPI Expands Global Sustainability Portfolio with Brazil...
06/08/25
Results
ANP releases consolidated 2024 data in English for the r...
29/07/25
Sergipe Oil & Gas 2025
SOG25 Surpasses Expectations in Its 4th Edition and Sets...
28/07/25
Sergipe
Government of Sergipe and Petrobras Strengthen Partnersh...
28/07/25
Sergipe Oil & Gas 2025
Sergipe Oil & Gas 2025 Highlights the Competitiveness of...
25/07/25
Sergipe Oil & Gas 2025
Márcio Félix, President of ABPIP, Sees a Promising Futur...
25/07/25
Sergipe Oil & Gas 2025
Sergas Highlights Progress and Expansion of Natural Gas ...
25/07/25
Permanent Offer
ANP Approves Studies for the Calcita Project, Potentiall...
25/07/25
Sergipe Oil & Gas 2025
Natural Gas Market Takes Center Stage on Second Day of S...
25/07/25
People
New Interim Director to Take Office on 7/25 at ANP’s Dir...
24/07/25
Sergipe Oil & Gas 2025
Sebrae Participates in the Opening of Sergipe Oil & Gas 2025
24/07/25
Royalties
Royalties: May Production Revenues for Concession and Tr...
24/07/25
Sergipe Oil & Gas 2025
Sergipe Reinforces National Leadership in the Energy Sec...
24/07/25
Sergipe Oil & Gas 2025
Sergipe’s Oil and Gas Potential Highlighted at SOG25 Opening
23/07/25
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.