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: 3353 (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
Partnership
Halliburton and Shape Digital establish strategic collab...
06/05/26
ROG.e
ROG.e 2026 will bring together CEOs from TotalEnergies, ...
06/05/26
International
At OTC Houston 2026, Firjan SENAI SESI expands its reach...
06/05/26
International
At OTC Houston 2026, Firjan SENAI holds international ed...
04/05/26
Recognition
BRAVA Energia receives top global industry award for Atl...
04/05/26
International
Brazil reaffirms technological leadership at OTC Houston...
04/05/26
Pre-Salt
PPSA closes 2025 with a net profit of R$ 30.1 million
04/05/26
Results
With 5.531 million boe/d, Brazil continues with record o...
04/05/26
International
Brazil reaffirms technological leadership at OTC Houston...
02/05/26
Environment
Brazil appears among world's largest methane emitters in...
30/04/26
PPSA
Federal Government receives R$ 917.32 million from Tupi ...
07/04/26
Study
Brazil increases dependence on thermal power, but lack o...
07/04/26
Permanent Offer
Permanent Production Sharing Offer (OPP): ANP publishes ...
07/04/26
Taxation
Infis Consultoria promotes the 4th Oil & Gas Taxation Se...
07/04/26
Green Hydrogen
Study at RCGI maps regions with the greatest potential f...
07/04/26
iBEM26
Goldwind advances in Bahia with factory in Camaçari and ...
27/03/26
iBEM26
Bahia showcases its bioenergy potential and reinforces i...
27/03/26
iBEM26
ESG practices in the renewable energy sector are highlig...
26/03/26
iBEM26
ABPIP highlights the role of independent producers in en...
26/03/26
iBEM26
Jerônimo Rodrigues highlights Bahia’s potential in the e...
26/03/26
Campos Basin
New oil discovery in the pre-salt of the Campos Basin
26/03/26
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.