Petrobras and BP form Strategic Alliance

Petrobras chief executive officer, Pedro Parente, and BP chief executive officer, Robert Dudley, signed a Memorandum of Understanding (MOU) to complement and reaffirm the commitments contained in the Letter of Intent (LOI), signed by the companies on 10/18/2017, as per press release disclosed on 10/31/2017. The MOU was signed in London in order to confirm the intention of the parties to combine efforts to discuss and negotiate investment opportunities in the oil and gas chain, in projects in Brazil and abroad, for cooperation in upstream, downstream and trading activities, among others, on a non-exclusive basis.

Petrobras joins the Oil & Gas Climate Initiative (OGCI)

Petrobras reports that its Board of Directors has approved, at a meeting held today, the company’s participation in the Oil and Gas Climate Initiative (OGCI). This is one of the main initiatives of the oil and gas sector to reduce and capture greenhouse gas emissions.

Oil and natural gas production in February

Petrobras reports that its total oil and natural gas production in February was 2.69 million barrels of oil equivalent per day (boed), with 2.59 million boed produced in Brazil and 99 thousand boed produced abroad. Total production operated by the company (portions of Petrobras and partners) was 3.32 million boed, with 3.19 million boed in Brazil.

Studies for Amendment of Petrobras’ Dividend Distribution Rules

Petrobras reports that its Board of Directors ordered that studies are carried out for amendments to the Company's Bylaws in connection to the clause on allocation of results, to establish quarterly payments of Dividends or Interest on Capital as well as allow the payment of interim dividends to the profit reserve account, within the applicable legal provisions.