1 month ago
Sempra (NYSE:SRE) added a long-term customer commitment on September 14, when its infrastructure subsidiary announced a 20-year sales and purchase agreement with Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR). The agreement covers approximately 0.8 million tonnes annually of liquefied natural gas, or LNG.
Supply will come from the subsidiary's contracted liquefaction capacity at Port Arthur LNG Phase 2 in Texas. The project is under construction, with trains 3 and 4 expected to begin commercial operations in 2030 and 2031, respectively. The agreement improves visibility into future sales, while the earnings contribution depends on delivery and contract economics.
Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) becomes the infrastructure subsidiary's first South American LNG customer. That broadens the geographic base of buyers and establishes a commercial relationship extending over two decades.
For Sempra (NYSE:SRE), the practical benefit is an external buyer for part of the subsidiary's contracted capacity. Securing that relationship before startup could reduce the need to find buyers for the covered volumes as production approaches, while supporting longer-term supply planning.
The annual commitment equals approximately 6.2% of Phase 2's planned 13-million-tonne annual capacity. This provides a measure of scale, although it does not establish the percentage of capacity still available for sale.
#agreement #petr #supply #term
Supply will come from the subsidiary's contracted liquefaction capacity at Port Arthur LNG Phase 2 in Texas. The project is under construction, with trains 3 and 4 expected to begin commercial operations in 2030 and 2031, respectively. The agreement improves visibility into future sales, while the earnings contribution depends on delivery and contract economics.
Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) becomes the infrastructure subsidiary's first South American LNG customer. That broadens the geographic base of buyers and establishes a commercial relationship extending over two decades.
For Sempra (NYSE:SRE), the practical benefit is an external buyer for part of the subsidiary's contracted capacity. Securing that relationship before startup could reduce the need to find buyers for the covered volumes as production approaches, while supporting longer-term supply planning.
The annual commitment equals approximately 6.2% of Phase 2's planned 13-million-tonne annual capacity. This provides a measure of scale, although it does not establish the percentage of capacity still available for sale.
#agreement #petr #supply #term
1 month ago
Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
French manufacturing giant Vallourec has secured the entire carbon-steel line pipe and external coating scope for Petrobras's Sepia 2 offshore development, covering roughly 130 kilometers of subsea infrastructure.
The contract strengthens its position in Brazil's technically demanding pre-salt market and gives investors another reason to believe the group's offshore order book still has room to grow.
Vallourec shares rose around 6% after the premium pipe manufacturer announced a major contract with Subsea7 for the Sepia 2 project in Brazil's Santos Basin.
The agreement covers roughly 130 kilometers of rigid risers and flowlines, representing more than 15,000 tonnes of carbon-steel seamless line pipe designed for highly corrosive environments.
#roughly
French manufacturing giant Vallourec has secured the entire carbon-steel line pipe and external coating scope for Petrobras's Sepia 2 offshore development, covering roughly 130 kilometers of subsea infrastructure.
The contract strengthens its position in Brazil's technically demanding pre-salt market and gives investors another reason to believe the group's offshore order book still has room to grow.
Vallourec shares rose around 6% after the premium pipe manufacturer announced a major contract with Subsea7 for the Sepia 2 project in Brazil's Santos Basin.
The agreement covers roughly 130 kilometers of rigid risers and flowlines, representing more than 15,000 tonnes of carbon-steel seamless line pipe designed for highly corrosive environments.
#roughly
1 month ago
Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
French manufacturing giant Vallourec has secured the entire carbon-steel line pipe and external coating scope for Petrobras's Sepia 2 offshore development, covering roughly 130 kilometers of subsea infrastructure.
The contract strengthens its position in Brazil's technically demanding pre-salt market and gives investors another reason to believe the group's offshore order book still has room to grow.
Vallourec shares rose around 6% after the premium pipe manufacturer announced a major contract with Subsea7 for the Sepia 2 project in Brazil's Santos Basin.
The agreement covers roughly 130 kilometers of rigid risers and flowlines, representing more than 15,000 tonnes of carbon-steel seamless line pipe designed for highly corrosive environments.
#pipe #vallourec #roughly
French manufacturing giant Vallourec has secured the entire carbon-steel line pipe and external coating scope for Petrobras's Sepia 2 offshore development, covering roughly 130 kilometers of subsea infrastructure.
The contract strengthens its position in Brazil's technically demanding pre-salt market and gives investors another reason to believe the group's offshore order book still has room to grow.
Vallourec shares rose around 6% after the premium pipe manufacturer announced a major contract with Subsea7 for the Sepia 2 project in Brazil's Santos Basin.
The agreement covers roughly 130 kilometers of rigid risers and flowlines, representing more than 15,000 tonnes of carbon-steel seamless line pipe designed for highly corrosive environments.
#pipe #vallourec #roughly
2 months ago
Mexico's state oil firm Pemex and Brazil's national oil company Petrobras are joining efforts and expertise to drill prospects in Mexican waters in the Gulf of Mexico, hoping to unlock huge oil resources from source rock formations that are miles deeper and eight times older than the currently producing formations in the U.S. Gulf.
Exploration in the Jurassic formations deep under the Mexican Gulf seabed in the Campeche Bay carries high risks, but the reward in case of a discovery could be enormous, geologists and ******* ysts tell Bloomberg.
Back in 2018, Pemex drilled more than 7,800 meters (25,600 feet) below the sea floor and penetrated the Campeche salt layer in an exploratory well that was declared unproductive. The Mexican oil giant hasn't ventured new exploratory wells in the area since then, but industry experts believe that Pemex may have found something of great geological and/or hydrocarbon-bearing potential, which has prompted it to pursue exploration further.
Pemex hasn't shared publicly any results of its 2018 drilling campaign offshore Campeche, but ******* ysts say there is a reason why the Mexican oil giant hasn't abandoned efforts to find huge resources and turn around years of declining domestic oil production from legacy wells.
Related: America's Next Strategic Partner Is Hiding in Plain Sight
#mexican #formations #efforts
Exploration in the Jurassic formations deep under the Mexican Gulf seabed in the Campeche Bay carries high risks, but the reward in case of a discovery could be enormous, geologists and ******* ysts tell Bloomberg.
Back in 2018, Pemex drilled more than 7,800 meters (25,600 feet) below the sea floor and penetrated the Campeche salt layer in an exploratory well that was declared unproductive. The Mexican oil giant hasn't ventured new exploratory wells in the area since then, but industry experts believe that Pemex may have found something of great geological and/or hydrocarbon-bearing potential, which has prompted it to pursue exploration further.
Pemex hasn't shared publicly any results of its 2018 drilling campaign offshore Campeche, but ******* ysts say there is a reason why the Mexican oil giant hasn't abandoned efforts to find huge resources and turn around years of declining domestic oil production from legacy wells.
Related: America's Next Strategic Partner Is Hiding in Plain Sight
#mexican #formations #efforts
2 months ago
On August 6, Petrobras (NYSE:PBR) held its second-quarter 2026 earnings webcast, reporting strong quarterly net profit and gross profit driven by record production volumes rather than peak Brent prices. Executives said the quarter delivered the highest recurring net profit and the highest gross profit in company history, even though oil prices in the period ranked outside the ten highest quarters Petrobras has ever posted. That distinction matters, because it points to something more durable than a commodity tailwind: production that keeps beating its own targets.
Petrobras pumped 2.7 million barrels of oil per day in the quarter, a 15% jump from a year earlier and 200,000 barrels per day above its own 2.5 million target. Several platforms are doing more than they were built for. The Almirante Tamandare FPSO at Buzios has a nameplate capacity of 225,000 barrels per day but hit a peak of 270,000, making it the highest-producing platform in Brazil. Six other platforms are running above their original capacity too, adding more than 100,000 barrels per day combined, output the company says required no new construction spending.
Refining kept pace. Utilization topped 100% for the quarter and hit 102% in April and May, while the company held its mix of diesel, jet fuel, and gasoline steady rather than shifting toward cheaper output. That let Petrobras cut oil product imports by 40% from the prior quarter and lift exports by 12%. Adjusted EBITDA, excluding one-off items, reached $20 billion, up 70% from the first quarter and nearly double a year earlier, while operating cash flow climbed almost 50% quarter-over-quarter to $12.3 billion.
Growth this fast isn't free. Petrobras spent $5.3 billion on capital projects in the quarter, up 4% from the first quarter's $5.1 billion, with 82% of that aimed at exploration and production. First-half operating expenses reached $11.7 billion, already more than half the full-year plan of $20.2 billion, pressured by freight and logistics costs tied to the added output plus exchange-rate swings. Management said expenses could exceed that plan if logistics costs and the exchange rate hold at current levels.
Debt tells a mixed story. Petrobras prepaid $2.9 billion in loans and bonds during the quarter and is targeting $65 billion in net debt over its plan horizon, versus the $60.4 billion net debt and $70.8 billion gross debt it reported. But renegotiating recharter and well-service contracts to save over $1 billion through 2030 required reorganizing lease liabilities right away, pushing them higher near-term even as future payments shrink. And despite record output, Petrobras still needs imports to fully cover diesel demand.
#debt #highest #barrels #first
Petrobras pumped 2.7 million barrels of oil per day in the quarter, a 15% jump from a year earlier and 200,000 barrels per day above its own 2.5 million target. Several platforms are doing more than they were built for. The Almirante Tamandare FPSO at Buzios has a nameplate capacity of 225,000 barrels per day but hit a peak of 270,000, making it the highest-producing platform in Brazil. Six other platforms are running above their original capacity too, adding more than 100,000 barrels per day combined, output the company says required no new construction spending.
Refining kept pace. Utilization topped 100% for the quarter and hit 102% in April and May, while the company held its mix of diesel, jet fuel, and gasoline steady rather than shifting toward cheaper output. That let Petrobras cut oil product imports by 40% from the prior quarter and lift exports by 12%. Adjusted EBITDA, excluding one-off items, reached $20 billion, up 70% from the first quarter and nearly double a year earlier, while operating cash flow climbed almost 50% quarter-over-quarter to $12.3 billion.
Growth this fast isn't free. Petrobras spent $5.3 billion on capital projects in the quarter, up 4% from the first quarter's $5.1 billion, with 82% of that aimed at exploration and production. First-half operating expenses reached $11.7 billion, already more than half the full-year plan of $20.2 billion, pressured by freight and logistics costs tied to the added output plus exchange-rate swings. Management said expenses could exceed that plan if logistics costs and the exchange rate hold at current levels.
Debt tells a mixed story. Petrobras prepaid $2.9 billion in loans and bonds during the quarter and is targeting $65 billion in net debt over its plan horizon, versus the $60.4 billion net debt and $70.8 billion gross debt it reported. But renegotiating recharter and well-service contracts to save over $1 billion through 2030 required reorganizing lease liabilities right away, pushing them higher near-term even as future payments shrink. And despite record output, Petrobras still needs imports to fully cover diesel demand.
#debt #highest #barrels #first
2 months ago
Brazilian state-controlled oil giant Petrobras has identified hydrocarbons in an exploration well being drilled in ultra-deep waters off the state of Amapá, providing an early indication of petroleum potential in one of the country's most closely watched exploration frontiers.
The Morpho well, formally known as 1-BRSA-1405-APS, is being drilled in the FZA-M-59 block in the Foz do Amazonas Basin, around 175 kilometers offshore in water depths of 2,886 meters. Petrobras said the hydrocarbon-bearing interval was identified through electrical well logs and indications in rock.
Drilling remains underway, and Petrobras has not disclosed the size of the accumulation, the type or quality of the hydrocarbons, or any estimate of recoverable resources. The result therefore represents an exploration discovery rather than confirmation of a commercially viable oil or gas development.
Still, the find is significant because Petrobras described it as its first discovery offshore Amapá, an area at the northern end of Brazil's Equatorial Margin where the company has been seeking to establish a new exploration province.
Petrobras began drilling Morpho after receiving an operating license from Brazilian environmental regulator Ibama in October 2025. At the time, the company said the well was designed to collect geological data and determine whether hydrocarbons were present in economically viable quantities, with no production planned during the exploration phase.
#hydrocarbons #morpho
The Morpho well, formally known as 1-BRSA-1405-APS, is being drilled in the FZA-M-59 block in the Foz do Amazonas Basin, around 175 kilometers offshore in water depths of 2,886 meters. Petrobras said the hydrocarbon-bearing interval was identified through electrical well logs and indications in rock.
Drilling remains underway, and Petrobras has not disclosed the size of the accumulation, the type or quality of the hydrocarbons, or any estimate of recoverable resources. The result therefore represents an exploration discovery rather than confirmation of a commercially viable oil or gas development.
Still, the find is significant because Petrobras described it as its first discovery offshore Amapá, an area at the northern end of Brazil's Equatorial Margin where the company has been seeking to establish a new exploration province.
Petrobras began drilling Morpho after receiving an operating license from Brazilian environmental regulator Ibama in October 2025. At the time, the company said the well was designed to collect geological data and determine whether hydrocarbons were present in economically viable quantities, with no production planned during the exploration phase.
#hydrocarbons #morpho
3 months ago
Russell 2000 ETF (IWM) is currently showing below average volatility with an IV Percentile of 13% and an IV Rank of 16.49%.
Why Nvidia (NVDA) Stock Faces Sell-the-News Risk Following Its Q2 Earnings Report
Oil's Surge Sparks Unusually Active Options Bets on Petrobras, Nike, Goldman Sachs and Other 120+ DTEs
Texas Instruments Generates Strong Free Cash Flow - But TXN Stock Looks Cheap to Value Buyers
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#risk
Why Nvidia (NVDA) Stock Faces Sell-the-News Risk Following Its Q2 Earnings Report
Oil's Surge Sparks Unusually Active Options Bets on Petrobras, Nike, Goldman Sachs and Other 120+ DTEs
Texas Instruments Generates Strong Free Cash Flow - But TXN Stock Looks Cheap to Value Buyers
Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now!
#risk
3 months ago
FLBR charges 0.19% versus EWZ's 0.59% and has outperformed by roughly 5 percentage points year-to-date in 2026.
FLBR excludes Nu Holdings and runs heavier exposure to Vale and Petrobras, a construction difference that has driven its 2026 edge.
Taxable EWZ holders with large embedded gains may need years to recover from switching, given the capital gains tax hit of 15 to 20 percent.
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The iShares MSCI Brazil ETF (NYSEARCA:EWZ) is the reflex trade for U.S. investors seeking single-ticker exposure to Brazilian large caps. It has been around since 2000, tracks the MSCI Brazil 25/50 Index, and sits on $88.51 billion in ******* ets, making it the deepest, most liquid vehicle for the trade. EWZ holders own it for a reason: broad exposure to Vale, Petrobras, Itau, and the rest of the Bovespa heavyweights in one line item. The question is whether they are paying a premium for that convenience when a near-identical alternative has quietly done the same job cheaper and better this year.
FLBR excludes Nu Holdings and runs heavier exposure to Vale and Petrobras, a construction difference that has driven its 2026 edge.
Taxable EWZ holders with large embedded gains may need years to recover from switching, given the capital gains tax hit of 15 to 20 percent.
Don't wait: the ******* yst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.
The iShares MSCI Brazil ETF (NYSEARCA:EWZ) is the reflex trade for U.S. investors seeking single-ticker exposure to Brazilian large caps. It has been around since 2000, tracks the MSCI Brazil 25/50 Index, and sits on $88.51 billion in ******* ets, making it the deepest, most liquid vehicle for the trade. EWZ holders own it for a reason: broad exposure to Vale, Petrobras, Itau, and the rest of the Bovespa heavyweights in one line item. The question is whether they are paying a premium for that convenience when a near-identical alternative has quietly done the same job cheaper and better this year.
4 months ago
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the cheap stocks that are about to explode. On June 22, Petrobras announced it had received board approval for a $1.2 billion investment to construct a new biofuels facility at the Presidente Bernardes Refinery in Cubatão, Brazil. The project, which is scheduled to begin construction by the end of 2026, is designed to produce 15,000 barrels per day of bio-jet fuel and renewable diesel, with operations expected to start in 2030.
This initiative is a core component of the company's 2026–2030 Business Plan and aligns with Brazil's Future Fuel Law. By focusing on renewable energy production, Petrobras aims to support international aviation standards, such as the Carbon Offsetting and Reduction Scheme for International Aviation/CORSIA, while advancing a broader energy transition strategy.
The development follows recent announcements of significant investments in the state of Amazonas, including logistics infrastructure and drilling operations at the Urucu field. These moves reflect a growing commitment to modernizing production capabilities and strengthening supply chains to meet both domestic regulatory requirements and international sustainability goals.
QiuJu Song/Shutterstock.com
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is involved in exploration, production, and distribution activities involving oil and gas. The company's operations are divided into the following segments: Exploration and Production; Refining, Transportation, and Marketing; and Gas and Low Carbon Energies.
This initiative is a core component of the company's 2026–2030 Business Plan and aligns with Brazil's Future Fuel Law. By focusing on renewable energy production, Petrobras aims to support international aviation standards, such as the Carbon Offsetting and Reduction Scheme for International Aviation/CORSIA, while advancing a broader energy transition strategy.
The development follows recent announcements of significant investments in the state of Amazonas, including logistics infrastructure and drilling operations at the Urucu field. These moves reflect a growing commitment to modernizing production capabilities and strengthening supply chains to meet both domestic regulatory requirements and international sustainability goals.
QiuJu Song/Shutterstock.com
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is involved in exploration, production, and distribution activities involving oil and gas. The company's operations are divided into the following segments: Exploration and Production; Refining, Transportation, and Marketing; and Gas and Low Carbon Energies.
1 yr. ago
Subsea 7 and SLB’s OneSubsea secure Petrobras Búzios 11 contracts as Brazils offshore expansion accelerates https://business-news-toda... #Subsea7 #SLB #OneSubsea #Petrobras #Búzios11 #BrazilOil #OffshoreEnergy #SantosBasin #EnergyStocks #SUBCY #PBR #SLBStock
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