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In a week from now, on january 27, the GDS shareholders of this company will be summarily deactivated. They will be kicked out of the company without mercy. When the company wanted to seek funds in the capital markets, these shareholders served very well. Now, are not they useful? What does the company do? Throw these out. Although many posts here always embellishing, seeking to cover the sun with the sieve, I have always been hard in the fight warning everyone about the risks embedded in this company. I hope all you get money losed here in another asset. Get the money they lost here. Its was already in the company plans. It was clear what the company would do with these shareholders when they did not allow the GDS to acquire debentures. Good luck to everyone.
marcoscsleite? i don´t believe.
Drilla, as I always said for you. The game is ended for the GDS.
The intention of the company is not to facilitate the life of all you GDS. Ending GDS shareholders and selling all of your shares in the bovespa market is part of the buyback plan, which aims to increase the position of current shareholders by using the company's cash to acquire shares, including the your shares, and withdraw them from the market. Meanwhile, many, unbelievably, clapping hands...
As I always said, game over to GDS shareholders.
Wrong your comparation US$0.18 to US3.00 when had two reverse splits: x10 and x5 !!
You, GDS shareholders, must elect a legal representative in Brazil. If this does not occur you will be sold your shares in the market at any and low price.
Drilla, what do you think about now GDS beeing extinct? Will you buy the common shares? Because, not have other way, the GDS are finished, as iI always said that wiould happen.
Game Over to the GDS shareholders.
The boat is making water.
Drilla, in according with this your post in a German forum that you said in november,2013, that the best for hrt was being wound up and end the company. Do you still think the best for the company would be a settlement?
Did you know that the current majority shareholder used the company resources without the permission of the board, as described in duty status, and bought shares of OI telephony company in bankruptcy, where he is a shareholder and made to favor particular interests? All it without legal authorization?
________________________________________________________________________
Drill-a-Hill schrieb am 01.11.13 11:45:47 Beitrag Nr. 1.112 (45.740.163)
Nocheinmal an alle Aktionäre von HRT petroleo
rzbern ein HRT Aktionär aus Brasilien hat eine Interessensgemeinschaft bei Yahoo gebildet, welche die lang und mittelfristigen HRT Aktionäre vertreten soll, Mitglieder besitzen aktuell bereits 2% aller Aktien und die Gemeinschaft wächst Tag für Tag, er hat bereits ein Meeting mit HRT gehabt, es geht darum Entscheidungen im besten Interesse der Aktionäre zu beeinflussen, beispielsweise könnte man bei momentaner Lage auf eine Liquidation pochen, die einige 100% über dem momentanen Aktienkurs liegen könnte, bei Interesse hier nocheinmal rzberns Einladung dazu:
Translation:
Drill-a-Hill wrote on 01:11:13 11:45:47 Post no. 1,112 (45,740,163)
Once again to all shareholders of HRT petroleo
rzbern an HRT shareholder from Brazil has formed a community of interest in Yahoo, which is supposed to represent the long and medium-term HRT shareholders, members have currently been 2% of all shares and the community is growing day by day, he has already had a meeting with HRT, it is therefore to influence decisions in the best interests of shareholders, for example, could be at current Location insist on a liquidation, which could some 100% above the current share price, if interested here again rzberns invitation to:
Diskussion nach Re-split -- Hrt Particp Sp GDR | wallstreet-online.de - Vollständige Diskussion unter:
http://www.wallstreet-online.de/diskussion/1166203-1111-1120/diskussion-nach-re-split-hrt-particp-sp-gdr
CVM fine the former managers of HRT for 'insider'
September 13, 2016 [18:04]
The Securities and Exchange Commission (CVM) condemned the HRT administration of former directors, Antonio Carlos de Agostini and John Forman for negotiating oil company's shares using inside information. The two sold company shares before the disclosure of material facts revealed the existence of dry wells in its portfolio in Namibia in 2013. The fines in the process amounted to R $ 795,000.
At the time, the negative information on operations in Namibia overthrew HRT shares on the stock exchange. The CVM has fined Agostini at $ 456,560, a figure that is double the loss avoided by him with the sale of company's shares on July 17 and September 5, 2013. The fine imposed on Forman by sales in July 2013 followed the same criteria, reaching R $ 338,500. Both can still appeal to the Board of Appeals of the National Financial System.
The first relevant fact published by HRT on 19 July 2013, stating the absence of oil and gas in Murombe-1 well. In trading following the announcement the shares opened in fall of 14.85%, quoted at R $ 1.72. The same dynamic was repeated in September of that year, when on 9 HRT issued a statement stating that Moosehead-1 well, also in Namibia, was considered dry. Again the shares collapsed over the closing price of the date of publication of the news.
Experts in the oil sector, Agostini and Forman were part of the oil company's board of directors between 2009 and 2012. In the indictment, the Office of Market Relations and Intermediaries (SMI) CVM took into account the proximity of managers to administrators who continued HRT at the time of evaluation of wells in Namibia, as the then CEO Milton Franke and advisor Marcio Rocha Mello, which would be a way for the leak of information.
The accused denied access to inside information. The defenses of Agostini and Forman highlighted his decades of experience in oil and that both were already away from HRT after diverge's leading line administration. They claimed that the two sold only part of their company's shares, in the case of Forman, less than 30% of the portfolio, taking into account that the oil company's shares had suffered devaluation since the beginning of the Namibian exploration campaign.
The CVM analyzed telephone conversations made between the accused and intermediates of brokerage firms to set sales operations and on the same date, the future repurchase. For the local authority was clear there prior conviction about the future behavior of the stock. Forman even states textually the employees of Credit Suisse that should sell "because the news due out late this afternoon or tomorrow morning", which for the prosecution revealed that he had access to privileged information and operated as a result of them.
On the other hand, the CVM director, Roberto Tadeu, Forman acquitted on the sale of HRT's shares in September of that year, close to the disclosure of the second fact. In this case, the talks brought no evidence that he knew of what was going on HRT, and the executive had considered alternative divestments for sale of the securities to raise sufficient resources to make an application for an investment fund.
Tadeu also voted for the acquittal of the former directors of HRT Maria Emilia Rocha Mello and Eduardo Teixeira. Both traded stocks in periods prior to the disclosure of the absence of oil in Namibia and also had relationships with other executives - Maria Emilia is the sister of the founder of oil, Márcio Mello. The dome of the CVM, however, considered that there was still no reliable information about whether or not oil in Namibia during the period when the two negotiated, since the company had not yet started the logging of the wells.
http://www.istoedinheiro.com.br/noticias/economia/20160913/cvm-multa-ex-administradores-hrt-por-insider/413019
GDS now are only 5.92%.
NEWS RELEASE
UPDATED NUMBER OF GLOBAL DEPOSITARY SHARES OUTSTANDING
Rio de Janeiro, September 1st, 2016 – Petro Rio S.A. (“PetroRio” or the “Company”)
(BM&FBOVESPA: PRIO3, TSX-V: PRJ), announces that the records of the TSX Venture Exchange (the “TSX-V”) have been updated to reflect the number of PetroRio’s Global Depositary Shares (“GDS”) currently outstanding. On September 1 st, 2016, there were 1,563,388 GDS outstanding (each representing 1/2 of an interest in a common share of PetroRio). Further details regarding the GDS can be found in the Company’s annual information form.
For further information, please contact PetroRio’s Investor Relations Department.
The impeachment is a good oportunity to buy, but not in Petrorio.
Dear Drilla, why you dont like to update the information about percentual of GDS in Petrorio? Now GDS are only 5.96% of the company and you show here the old 6.04%.
Now GDS are only 5,96% of Petrorio
The GDS are beeing Extinct!
NEWS RELEASE
UPDATED NUMBER OF GLOBAL DEPOSITARY SHARES OUTSTANDING
Rio de Janeiro, August 1st, 2016 – Petro Rio S.A. (“PetroRio” or the “Company”)(BM&FBOVESPA: PRIO3, TSX-V: PRJ), announces that the records of the TSX Venture Exchange (the “TSX-V”) have been updated to reflect the number of PetroRio’s Global Depositary Shares (“GDS”) currently outstanding. On August 1 st, 2016, there were 785,794 GDS outstanding (each representing 1/2 of an interest in a common share of PetroRio).
Further details regarding the GDS can be found in the Company’s annual information form.
For further information, please contact PetroRio’s Investor Relations Department.
http://ri.petroriosa.com.br/download_arquivos.asp?id_arquivo=B1A7931F-795D-46F1-A1A6-BEF8B872AA50
Mr Tanure seems that bought 4.2% of OI telephone company (company recently filed bankruptcy, being virtually bankrupt), using resources and money of company Petrorio. If the OI company have a debt around of R$ 65.4 billion, now, the Petrorio have a debt of 4.2% of this amount (R$ 2.75 billion). As news translated below.
________________________________________________________________________
http://www.istoedinheiro.com.br/noticias/negocios/20160729/pharol-prepara-reacao-investidas-tanure/398043
TRANSLATE:
Pharol prepares reaction to Tanure of investees in the OI
The Pharol, main individual shareholder of OI prepares a reaction to recent attacks businessman Nelson Tanure, which recently acquired a significant share in tele. The former Portugal Telecom (PT) monitors whether Tanure is acting together with other shareholders without informing the capital market.
What the Portuguese company wants to know is whether in fact the entrepreneur would have greater voting power in assemblies to work together with other shareholders who have acquired or significantly increased the position in tele recently, including the PetroRio and background Discovery. The status of OI, each shareholder, regardless of participation has limited voting to 15% of the share capital.
The Portuguese group has 22.24% of OI through the Bratel subsidiary while Tanure has only 6.63% through Société Mondiale background.
An executive of Pharol told the story that Tanure will have to take the risks involved. The businessman tries away from OI board members linked to the former Portugal Telecom.
Sought Tanure, which is also a major shareholder of PetroRio, denied any agreement to vote. also said that oil, like any public company applies its reserves in stocks and bonds. According to him, the Discovery, which already took part in PetroRio, is "a fund has assets of $30 billion, and participation in over 100 companies around the world."
On another front, the Portuguese Pharol can attack Tanure in its position on consultation made this week by Société Mondiale the Securities and Exchange Commission (CVM). Tanure asked the authority it manifests on the suspension of voting rights of Pharol in the OI decisions. He argues that companies have significant participation in each other and exert reciprocal control rights.
The executive of the Portuguese company denies the claim. "Neither OI controls Pharol nor Pharol controls OI," he said.
The representative of the former PT did not rule out that the company participate in a possible capital increase of OI, which "will depend on the conditions."
The Pharol decided on Thursday, 28, process the shareholder of OI Aurelio Valporto, vice president of the Minority Investors Association of Brazil, after statements made to press against the Portuguese company. The information is the newspaper O Estado de S. Paulo.
________________________________________________________________________
http://oglobo.globo.com/economia/recuperacao-judicial-da-oi-pharol-critica-posicao-da-bridge-19807438#ixzz4Fo63AHzr
TRANSLATE:
Judicial Recovery OI: Pharol criticizes Bridge position
The PetroRio which has Nelson Tanure as a shareholder, already has more than 4% of the tele
RIO - The Pharol, main shareholder of OI, with 22.24% of the securities of Rio tele decided to initiate a dispute against the management of investments Bridge, which has in its committee Nelson Tanure businessman, who owns 6.32% of the capital the telecommunications operator. The company, the former controlling shareholder of Portugal Telecom, said he did not consider legitimate the election of Bridge want to call a meeting to dismiss all members of the Board of Directors of OI indicated precisely by Pharol.
The OI, with debts of around R$ 65.4 billion, filed for bankruptcy last month, and since then the supertele has been subject to dispute among shareholders and international creditors. The Pharol says Tanure been using their companies to buy shares of OI swap the positions between them. The Pharol cites the case of PetroRio oil, which has the business as a shareholder, with about 4.2% of the operator's shares. Already Bridge, through the bottom of Société Mondiale investment, now has 6.32% of the papers. The Pharol also highlights the approximately 5% of the shares in the hands of the American fund Discovery, another member of PetroRio.
BRIDGE ASKS CVM VIEW
In his bid to convene a new meeting, the Bridge claims that OI and Pharol has the same directors, which, according to the manager, sets, reciprocal exercise control rights, as they are the same people that define the votes in both companies. So whether the names given by the Portuguese out of OI.
For Pharol, Nelson Tanure entrepreneur does not have a "legitimate claim" in its application, since the current board of directors has a term of two years, approved in September last year. In addition, Pharol points out that all current OI Council members appointed by the Portuguese company were not part of the former management of Portugal Telecom, except for the presence of Rafael Mora, who at the time played a non-executive position in the Portuguese tele.
For what reason the Bridge wants to change only part of the Board of Directors all decisions were always adopted unanimously by the Council. That is, the statute only good for one thing and not another - asks one of Pharol executives, who declined to be identified.
Yesterday, the Bridge application sent to the Brazilian Securities Commission (CVM) for the authority to express its opinion on the mutual interests of OI and Pharol. In the document, the Bridge asks the Pharol is prevented from voting on resolutions involving the Council of OI. Asked about the actions of PetroRio, Tanure said that like any public company, the oil company applies its reserves in stocks and bonds. "This is a common practice in the market," said the businessman in a statement.
GDS now are only 6.01%
NEWS RELEASE
UPDATED NUMBER OF GLOBAL DEPOSITARY SHARES OUTSTANDING
Rio de Janeiro, July 1st, 2016 – Petro Rio S.A. (“PetroRio” or the “Company”)
(BM&FBOVESPA: PRIO3, TSX-V: PRJ), announces that the records of the TSX Venture Exchange (the “TSX-V”) have been updated to reflect the number of PetroRio’s Global Depositary Shares (“GDS”) currently outstanding. On July 1st, 2016, there were 792,794 GDS outstanding (each representing 1/2 of an interest in a common share of PetroRio). Further details regarding the GDS can be found in the Company’s annual information form.
For further information, please contact PetroRio’s Investor Relations Department.
http://ri.petroriosa.com.br/download_arquivos.asp?id_arquivo=2AB4B751-021A-4990-ADD1-2129DE7A5A2B
Drilla, now GDS are 6.08%, not 6.33%. Update this information.
http://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&conta=44&tipo=58650
Pay attention to where are moving the GDS actions. In exemplified 3-month period (from 02/15/2016 to 05/16/2016), as indicated below, none of the major shareholders changed position and migrated a total of 165,000 GDS for PRIO3 incorporating this amount in "other shareholders". The company's total shares increased beyond 165,000 GDS migrated, plus 10,696 shares conversion and fruit etc, increasing the "other shareholders", said shares available in the market, 175,696 shares.
Before, in 02/15/2016
After, 05/16/2016
With the last position reported by the company on 05/16/2016, if considered for purposes of calculating the repurchase of 16.5 MM shares, the equity position would be as follows.
Aventti ........... 17,771,955 - [35.94%]
One Hill .......... 15,137,489 - [30.61%]
Bridge Trust ....... 8,500,633 - [17.19%]
GDS ................ 4,006,973 - [8.10%]
Other .............. 4,036,689 - [8.16%]
Total ............. 49,453,739 - [100.00%] (from 65,953,739 to 16,500,000)
obs: The figures above do not consider the possibility of conversion of the remaining debentures.
The GDS shareholders are being extinguished. When they be reached below 5% stake not will be appear in the shareholders' board. After they extinguish the GDS will be the turn of the common shares on the Bovespa under the prio3 code.
http://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&conta=44&tipo=58650
BOARD RESOLUTION ANP-04/27/16
Case number: 48610.009998 / 2014
Board Meeting Number: 842
Date: 04/27/2016
RD - 325/2016
SUBJECT: Production Individualization Agreement (AIP) of Shared Oilfield between Tubarão Martelo Fields (Concession Agreement No. 48610.001367 / 2008-54) and Polvo (Concession Agreement No. 48610.001367 / 2008-54) - Campos Basin
RESOLUTION: The Board of the National Agency of Petroleum, Natural Gas and Biofuels - ANP, based on the Action Proposal No. 963 of 28 October 2015, and based in Opinion No. 206/2016 / PF-ANP / PGF / AGU and Order No. 280/2016 / PF-ANP / PGF / AGU, decides:
I) authorize the continued production of the central area of the Tubarão Martelo Field; and
II) suspend any development and production activities in the region northeast of granting Tubarão Martelo Fields, while not approve a unitization agreement of production between OGX and HRT operators.
MONTEIRO CALDAS LEONARDO
EXECUTIVE SECRETARY
2015 results and x 2014
See where it came from the 209MM that are launched within the red frame
exchange variation: 109.x MM
sale of assets: 100.x MM
78.7x MM (1/2 solimões) U$ 20 MM
17.5x MM (aircraft)
4.2x MM (Namibia)
In 2014, they sold 2,316,154 bbl the price of US 86.82 and had to R $ 486.84 MM revenue and was a disaster?
In 2015, they sold only 1,798,700 bbl (517,454 bbl less) and quote "U $ 49.85" (for U $ 36.97 less per barrel) and had revenues of R $ 253.07 MM, ( 48% less), almost half, and it was a success? !!
2014 - 2015 in numbers
sales volume:
2,316,154 - 1,798,700 = 517,454 bbl (-22%)
Average selling price (US $)
US$ 86.82 - US$ 49.85 = US$ 36.97 (-42%)
Total revenue
R$ 486.84 MM - R$ 253.07 MM = R$ 233.77 MM (-48%)
Bad result in 4Q15. Follows the reality of what was 4Q15.
Petrorio sold in 4Q15 only 402.5 thousand barrels to US$ 35.03, below the cost of the company that is U$ 45.00 (lifting cost Polvo + cost management) and remained in stock 253,000 barrels. disastrous results. In addition they not selling solimões to Rosneft for U$ 55 million, as they said, but was for only U$ 40 million (listen in conference call audio).
Image of the page 6 of the earnings release 4Q15.
Negative results in R$42.1 million, which was presented as positive as included exchange gains "in profit", but now lost in the first three months of 2016, with the dollar falling from R$4.00 to R$3.60.
Image of the page 6 of the earnings release 4Q15.
MATERIAL FACT-PETRORIO PROPOSES REVERSAL SPLIT AND COMMON SHARES BUY BACK PROGRAM TO BE APPROVED IN A SHAREHOLDERS MEETING
Rio de Janeiro, March 21, 2016 - Petro Rio S.A. ("PetroRio" or the "Company") (BM&FBOVESPA: PRIO3, TSX-V: PRJ) hereby announces that, in a meeting held today, its Board of Directors have approved the convening of the Shareholders Annual and Special Meeting to be held on April 29, 2016 to decide, among other matters: (i) the reverse split of common shares and Global Depositary Shares (GDSs) issued by the Company at the rate of 25 (twenty five) common shares and 25 (twenty five) GDSs for 1 (one) common share and 1 (one) GDS, respectively, maintaining the same proportion currently in force of 2 (two) GDSs to 1 (one) common share and (ii) the implementation of a buyback program of up to 16,500,000 (sixteen million five hundred thousand) Company‘s common shares within 18 (eighteen) months, without capital reduction, to be held in treasury, cancellation and/or subsequent sale. The maximum amount of common shares to be acquired in the buyback program will be adjusted to reflect the reverse split mentioned in item (i) above, if it is approved.
The proposed reverse split will mitigate the excessive risk of volatility in the price of these securities, provided that it will allow the price per share and per GDS should not be as low as minor fluctuations could represent a high percentage. Additionally, this proposed reverse split will reduce the possibility breach of the BM&FBovespa rules (Regulamento para Listagem de Emissores e Admissão à Negociação de Valores Mobiliários), which do not allow stock prices quoted below R$ 1.00 (one real).
The Management believes that the buyback program to be voted in such Shareholders Annual and Special Meeting aims to provide that market price of the shares shall reflect more appropriately the Company’s intrinsic value. In view of the involved amount in the proposed buyback program compared to the Company‘s cash availability history and considering the general evaluation from Management regarding PetroRio’s financial situation, it is understood that the share buyback shall not affect the compliance with creditors or the payment of mandatory dividends.
PetroRio, one of the most important emerging companies in the Brazilian oil and gas industry, is focusing in the development of a solid growth platform aiming at generating value for its shareholders.
http://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&tipo=32124&conta=44&id=223718
MATERIAL FACTS
PETRORIO TERMNINATES OPERATIONS IN NAMIBIA
Rio de Janeiro, March 09th, 2016 - Petro Rio S.A. ("PetroRio" or the "Company") (BM&FBOVESPA: PRIO3, TSX-V: PRJ) hereby announces that it will not execute any new investments and it is terminating its exploratory activities in Namibia.
PetroRio, after a long period of conversations with the Namibian government, chose not to proceed with its oil exploration licenses in Namibia and, therefore, it will not execute any new investments in that country. This decision is in line with the Company‘s growth strategy through the acquisition of producing fields and reducing exposure to exploratory risk.
PetroRio, one of the most important emerging companies in the Brazilian oil and gas industry, is focusing in the development of a solid growth platform aiming at generating value for its shareholders.
http://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&tipo=32124&conta=44&id=223419
Whats going on? look image below.
The percentage that the "holding" PetroRio holds the international PetroRio, only 29.71% (02/22/2016) is exactly equivalent to participation of "other shareholders" 30.87% (02/15/2016) It seems that they have they are already separated, example: this is mine, give me here, this is yours, take there ... . All this close to the Annual general Meeting? Care distracted shareholders !!
BEFORE
AFTER
____________________________________________________________-
7,094 bbl/d Production POLVO-January 2016 released by the ANP
There's so outdated information on this page that look like as a museum of HRT
bye bye Bijupira & Salema
MATERIAL FACT
TERMINATION OF THE PURCHASE AND SALE AGREEMENT FOR THE 20% STAKE OF BJSA FIELDS
Rio de Janeiro, February 29th, 2016 - Petro Rio S.A. ("PetroRio" or the "Company") (BM&FBOVESPA: PRIO3, TSX-V: PRJ) hereby announces that it has terminated the contract of the purchase and sale agreement for the acquisition of the 20% stake in the rights and obligations of the concession contracts of Bijupirá and Salema Fields ("BJSA") with Petróleo Brasileiro S.A. ("Petrobras"). This decision resulted from the termination, by Shell Brasil Petróleo Ltda. ("Shell"), of the purchase and sale agreement for the 80% stake in BJSA, announced on February 16th, 2016, as allowed by the purchase and sale agreement.
According to the decision made by Shell, PetroRio would no longer be the operator of BJSA and, therefore, the acquisition of 20% stake in these fields would not make sense for the implementation of the Company‘s strategy.
The Company reassures its growth strategy through the acquisition of producing fields, seeking investment opportunities that generate value for its shareholders. Currently, the Company is investing in Polvo Field’s development, in which it holds 100% stake.
PetroRio recognizes all efforts that have been made and carried out and expresses its gratitude to its staff and Petrobras’ team.
http://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&tipo=32124&conta=44&id=223224
GDS are being extinct, (OWNERSHIP BREAKDOWN). When below 5% not will appear as part of shareholders and will be included in "other shareholders".
http://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&conta=44&tipo=32089
Oil falls 4% after Saudi minister rule out production cuts
Reuters
02/23/2016 18h43
Brent oil ended the day at US $ 33.27.
Large exporters proposed production freezing.
Oil prices fell 4% on Tuesday (23) after the oil minister of Saudi Arabia discard any production cuts, reaffirming the right of the kingdom to maintain production was that demand would absorb the excess oil that crushed the prices in the last 20 months.
Futures contracts of Brent crude closed at falling $ 1.42, or 4%, to US $ 33.27 a barrel, while US crude was down $ 1.52, or 4.6%, to US $ 31.87 per barrel.
The major exporters of Saudi Arabia and Russia proposed a production freeze in January levels, which are close to record maximum, but only if other producers also do.
Other meetings on potential freezes happen in March, al-Naimi said at the IHS CERAweek conference in Houston, adding he expects most important countries to freeze production levels.
Analysts and traders remain skeptical that the freeze is effective to rebalance the market.
http://g1.globo.com/economia/mercados/noticia/2016/02/petroleo-cai-4-apos-ministro-saudita-descartar-cortes-de-producao.html
India buy more oil from Saudi and Iraq, reduces business with Latin America
02/19/2016 10:00
NEW DELHI (Reuters) - Oil imports of India to Saudi Arabia and Iraq peaked in over a decade last month, as the largest producer of the Organization of Petroleum Exporting Countries (OPEC) have gained market to sales expense Latin America, in an acknowledgment of the cartel's policy of keeping production to gain market share.
competitive and lower prices distances for sending ships are giving OPEC members in the Middle East an advantage in India, the third largest oil importer in the world.
Saudi Arabia was the largest supplier to India in January, with volumes up 29 percent from the same month a year ago to about 940,000 barrels per day (bpd), show data of vessels obtained from sources and data compiled by Thomson Reuters Oil Research & Forecast Friday.
Just behind are the Iraqis, with 930,000 bpd, up 52 percent from the level of last January.
The daily rates of both countries are at the highest level since at least 2001, according to data available at Eikon terminal of Thomson Reuters.
In contrast to this, imports from Latin America have fallen about 25 percent from a year earlier to 706,000 bpd, the data show.
"Let's slow down Latin American oil purchases and raise the Middle East supply," said the director of Mangalore Refinery and Petrochemicals, H. Kumar.
Indian refiners say they increased Middle East imports after Brent up against the reference price of Dubai, making oil priced for this more attractive rate.
In addition, Iraq has given discounts that can reach more than $ 1 a barrel to compensate for changes in oil quality, said market sources.
(By Nidhi Verma, additional reporting by Florence Tan in Singapore)
http://br.investing.com/news/not%C3%ADcias-de-commodities-e-futuros/%C3%ADndia-compra-mais-petr%C3%B3leo-de-ar%C3%A1bia-e-iraque,-reduz-neg%C3%B3cios-com-am%C3%A9rica-latina-165512
OIL PRODUCTION CUTS ARE NOT IN PLANS OF SAUDI ARABIA
19 Feb, 2016
A oil barrel price crisis is one of the main reasons for the excess production of some member countries of the Organization of Petroleum Exporting Countries (OPEC). Measures to control production have been taken, but the foreign minister of Saudi Arabia, Adel al-Jubeir (pictured), said cuts are not in the country's plans.
On Tuesday, an agreement was signed between Saudi Arabia, Russia, Venezuela and Qatar to keep frozen production levels recorded in January. Other OPEC countries now come joining the plan, such as the United Arab Emirates and Kuwait, that have announced support for freezing.
This is the first such agreement signed by member countries and non-OPEC members in the past 15 years. The oil minister of Iran, Bijan Zanganeh also said look favorably understanding between the countries, but said it plans to not impose a limit on its own production. He also stressed the special status of the country, returning now to the international market after the removal of sanctions against the country.
http://www.petronoticias.com.br/archives/80243
740%?? Drilla according to your forecasts, the Petrorio Shareholders should sell everything, house, real estate, cars, jewelry, and buy all in Petrorio shares.
100,000 bbl/d? - 30,000bbl bjsa = distant dream 70,000bbl/d. If Polvo only 7,000 bbl/d, where they will meet the others 63,000 bbl/d? Magician pass?
The true reallity that happened in BJSA trading is that HRT had no way to honor the agreement signed and went on a honorable exit. If Brent had risen they would use the positive result to repay part of the negotiation. Ie, a positive result would be of HRT, and the same if also negative. The Shell would be very naive to accept that if would be positive is of HRT and if it would prejudice is of Shell. Therefore. This must have been the point of discussion.
In addition, the Petrorio would to bear the agreed amount, the HRT would have to pay for the prejudice financial will be shown since the accord until to the approval.
Obvious that the step was higher than the legs and they fell. Besides all this, burden of negotiation, that they could not have money to do, still would be operate in the red, generating huge losses and sequential, with Brent at the current level.
All the acquisition of BJSA was immature, irresponsible and hasty . The justification that they said that bought the field, for a good because price of brent is low and it opened this opportunity, it was the same reason, the brent be low, to justify the impossibility of business. Now they said that want something big?... It is a joke?
oil storage shortage in the Caribbean makes producers selling at a loss
Tuesday, February 16, 2016 17:10
HOUSTON (Reuters) - The saturation of oil storage network in the Caribbean is forcing some South American and African producers to continue selling oil at prices that do not cover production costs, said brokers and sources told Reuters.
Low prices environments typically motivate production and marketing companies to store more oil while waiting for a better time to sell, but the lack of inventory capacity available in the Caribbean is leaving them no option.
"It's a death spiral, a race to the bottom," said an oil trader on condition of anonymity, explained to the companies are selling at any price because storage facilities are still fuller now than in the last quarter of 2015 .
The operator added that the high cost of chartering ships to use as floating stock became so unaffordable option for many.
Producers in South America, including Venezuela's PDVSA and Brazil's Petrobras are dependent on the Caribbean storage facilities because their home networks are not big enough for the extra oil. Many African producers also store the product in the region.
The oil tanks homeowners are seeing a boom. The US Buckeye Partners, the largest oil storage participant in the Caribbean, said that its capacity utilization rates in the port of New York and the Caribbean rose to 98 percent in the last quarter of 2015, almost 9 percent more than a year before.
(By Marianna Parraga)
http://br.reuters.com/article/businessNews/idBRKCN0VP2GG
The Petrorio did last sale in October regarding production until September. Considering the production from this point and with an average production of 230 thousand barrels / month:: OCT, NOV, DEC, JAN and 1/2 FEV = 4.5 months x 230,000 = 1,035,000 barrels, more the stock = 1,100,000 barrels. Filled the FPSO. Or continue to produce finacial injury or do the same like OGX request production stop.
Mr. Pedrosa not is CEO of the Petrorio, as of this date.
http://ri.petroriosa.com.br/download_arquivos.asp?id_arquivo=A842A16F-8F0A-473A-997F-3DA6EA86DA46