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December 30, 2013
11:25 EDTRDS.A, PBR, RDS.BShell completes acquisition of additional 23% interest in BC-10 project for $1B
Shell (RDS.A) announces it has completed the acquisition of an additional 23% interest in the Parque das Conchas -- BC-10 -- project offshore Brazil for $1B. Regulatory approvals have been obtained and Shell will now hold a 73% operating interest. The purchase is effective January 1, 2013. Partner ONGC, previously holding a 15% working interest, will now hold a 27% working interest. This purchase is the result of pre-empting a third party's bid for Petrobras' (PBR) 35% interest in BC-10. Currently, BC-10 is producing approximately 50,000 boe/d. Since coming on-stream in 2009, BC-10 has produced more than 80 million barrels of oil equivalent. Phase 2 of the project, to tie-in the Argonauta O-North field, came online on October 1, with an expected peak production of 35,000 boe per day. Final Investment Decision for Phase 3 of the BC-10 project was taken in July and once online is expected to reach a peak production of 28,000 boe.
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April 16, 2014
06:33 EDTPBRPetrobras having difficulties, NY Times says
Brazilian energy company Petrobras is experiencing multiple problems, as its oil production has stagnated, its employees have been accused of taking bribes, and its debt is surging, according to The New York Times. Analysts warn that the company could face problems in international bond markets, the newspaper stated. Reference Link
April 9, 2014
11:45 EDTPBROptions with increasing implied volatility: CYTK NSR NOW ETFC PBR
05:50 EDTPBRStocks with implied volatility movement; MO PBR
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