Brazil Selects Gileno Gurjao Barreto as Petrobras Chairman
The Brazilian government selected Gileno Gurjao Barreto on Thursday as its nominee to chair state-run oil giant Petrobras' board.The Mines and Energy Ministry also confirmed Caio Mario Paes de Andrade as its nominee to be Petrobras' chief executive.The nominations, which still need to be approved by shareholders, come weeks after Brazil's President Jair Bolsonaro ousted the company's previous chief executive, who served less than two months on the job.Bolsonaro Fires Second Petrobras CEO in Two MonthsBarreto is a law graduate from the University Center of Brasilia with an MBA from the
Vallourec to Close Sites in Germany, France, and Scotland, with 2950 Jobs Set to Be Lost
Vallourec is starting a process to close its German manufacturing sites as it had failed to find a "credible" buyer for the assets, the French steel pipe maker said on Wednesday.Vallourec also said it would close its heat treatment line in Saint-Saulve in France and a site in Scotland.The firm, which in November announced plans to dispose of its German assets and relocate its oil and gas activities to Brazil, said the closure process in Germany would take place over the next two years and include the sale of the land and buildings. Vallourec said in a call with journalists that the
Exxon Names Country Head in Emerging Hot Spot Guyana
Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future.Alastair Routledge takes over after the company, as part of a consortium with Hess Corp and China's CNOOC Ltd, has discovered some 8 billion barrels of oil and gas off the coast of Guyana, a poor country with no history of oil production.While crude exports have the potential to spur economic development, Routledge will have to contend with political turbulence
Chariot Oil & Gas CEO Steps Down. Acting CEO Named
London-listed oil company Chariot Oil & Gas has informed that Larry Bottomley, CEO, has stepped down from the company with immediate effect.The company, with operations in Morocco, Namibia, and Brazil, said Tuesday that Adonis Pouroulis, currently Non-Executive Director and founder, would take over as acting CEO with immediate effect. Further, Julian Maurice-Williams, currently Chief Financial Officer, and Duncan Wallace, currently Exploration Manager, will join the Board with immediate effect as executive directors as Chief Financial Officer and Technical Director respectively."The
Petrobras: 10,000 People Accept Voluntary Buyouts
its stake in fuel distribution firm Petrobras Distribuidora SA, Almeida said, adding that the company plans to have closed part of its refinery sales in 2021.Petrobras received last week binding offers for its Bahia refinery, the first refining unit the state-controlled producer plans to sell. REPAR in southern Parana state will be the next to go to the market in the coming weeks, Castello Branco said.The fuel market is expected to improve in the second half of the year and demand may eventually recover to pre-pandemic levels, but prices are expected to remain lower, Almeida said, adding that Petrobras
3,800 Petrobras Workers Might Take Voluntary Severance Offer
Brazil's state-controlled oil company Petrobras aims to save 7.6 billion reais ($1.4 billion) by 2025 through voluntary buyout programs that will affect 3,800 employees, according to a securities filing on Wednesday.Petroleo Brasileiro SA, as the company is formally known, on Wednesday launched a new program focused on employees who are eligible for retirement, and said it is making adjustments to voluntary severance programs already in place.Petrobras in recent years has initiated several waves of buyouts, which have gained urgency as the company sells off hundreds of assets and exits various
