Petrobras has launched a program to buy back up to $2 billion of existing bonds in cash and the offering of new debt, as it seeks to refinance debt maturing before the end of the decade.
In a statement, Petrobras, which is the world's most indebted oil company, said seven different series of fixed- and floating-rate notes offered by the Petrobras Global Finance BV subsidiary will be targets of the repurchase program.
The bonds, which include notes maturing in Jan. 2019, March 2019, April 2019, Jan. 2020 and March 2020, have almost $10 billion outstanding worth of securities.
Recommended Reading
Well Logging Could Get a Makeover
2024-02-27 - Aramco’s KASHF robot, expected to deploy in 2025, will be able to operate in both vertical and horizontal segments of wellbores.
Tech Trends: Halliburton’s Carbon Capturing Cement Solution
2024-02-20 - Halliburton’s new CorrosaLock cement solution provides chemical resistance to CO2 and minimizes the impact of cyclic loading on the cement barrier.
The Need for Speed in Oil, Gas Operations
2024-03-22 - NobleAI uses “science-based AI” to improve operator decision making and speed up oil and gas developments.
Sinopec Brings West Sichuan Gas Field Onstream
2024-03-14 - The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.
E&P Highlights: March 11, 2024
2024-03-11 - Here’s a roundup of the latest E&P headlines, including a new bid round offshore Bangladesh and new contract awards.