Petrobras May Reconsider Dividend Policy

Wednesday, February 6, 2019

Brazil's state-run oil company Petroleo Brasileiro SA may reconsider its dividend policy, Chief Executive Officer Roberto Castello Branco told Brazilian newspaper Valor on Wednesday.

In an interview with the paper, Castello Branco said he may cancel quarterly dividends payments, to accelerate the reduction of Petrobras' debt levels.

The Petrobras CEO also said the company expects capital expenditures of $16 billion this year, 23 percent higher than expenditures last year. Petrobras press representatives did not reply to a request for comment on the interview.


(Reporting by Tatiana Bautzer; editing by Chris Reese)

Categories: Finance Industry News South America

Related Stories

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

ONE Guyana FPSO En Route to ExxonMobil’s Yellowtail Field

SLB Names Raman CSO, CMO

Petronas Preps for Sabah-Sarawak Gas Pipeline Decom Op

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Current News

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com