Brazil’s securities regulator formally accused eight former executives of state-run oil company Petroleo Brasileiro SA of corruption on Friday, as the world’s largest graft investigation stretches deep into its third year. Read more

Rio de Janeiro, January 02, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the press release of 08/23/2017, reports that Law no. 13.586 was sanctioned on 12/28/2017 as a result of the approval of Provisional Measure no. 795/2017. The aforementioned Law, together with Decree no. 9,128/2017, ensures the maintenance of the tax rules in... Continue Reading →

  1/1/2018 For the Brazilian oil industry, the year 2018 will only be six months. The reason is that, being an election year, the main client of the sector, state-owned Petrobras, will only be able to compete for the procurement of goods and services in the first half. The analysis is from the Brazilian Association... Continue Reading →

  Good news to start the 2018 on the right foot. It took longer than thought but Petrobras announced the winners of the tender for the maintenance of 25 oil platforms of the Campos Basin. The winning companies are Spanish Cobra Instalaciones Y Servicios, CSE Mecânica e Instrumentação, of the Aker Solutions Group, and Enesa... Continue Reading →

BP Plc, the British oil major that invests more in the U.S. than anywhere else, expects to take a charge of about $1.5 billion following recent tax changes in the country, despite the prospects of long-term gains from the legislation. Read more

Rio de Janeiro, December 28, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 9/5/2017 and press release disclosed on 10/23/2017, informs the start of the binding phase regarding the sale process of 90% of its stake in Transportadora Associada de Gás S.A. ("TAG"), Petrobras wholly-owned subsidiary. At this stage... Continue Reading →

  Petrobras may be making progress in its plan to reduce debt, but a former shareholder in the state-controlled energy giant isn’t ready to jump back in quite yet. Aberdeen Asset Management Plc, the Scottish emerging-markets investor that backed Petrobras for more than a decade, exited the bet in 2014 as the Brazilian oil producer dealt... Continue Reading →

Brazil’s top prosecutor has launched a legal challenge against pardons made by President Michel Temer just before Christmas, alleging they are unconstitutional and threaten the Car Wash probe into the country’s largest-ever corruption scandal. Read more

Rio de Janeiro, December 27, 2017 - Petróleo Brasileiro SA - Petrobras informs that in December it executed, directly or through its controlled companies, debt prepayments in the total amount of US$ 5.1 billion, with the following creditors: BNDES , Morgan Stanley, Export Development Canada (EDC), Santander, The Bank of Tokyo-Mitsubishi UFJ, Citibank, Kreditanstalt für... Continue Reading →

Brazil once again is in the aim of the major IOC’s. Attracted by the pre salt bidding rounds and the Petrobras divestment program, IOC’s have invested approximately R$30 billion (U$9.25 billion) during 2017 in the acquisition of assets. Statoil with investments of U$3.66 billion leads the pack, followed closely the ExxonMobil with U$3.28 billion; Total... Continue Reading →