Rio de Janeiro, June 20, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that the Board of Directors of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR) approved yesterday the extension of the term of office of President Ivan de Sá Pereira Júnior and Officers of Operations and Logistics, Marcelo Fernandes Bragança, and Consumer Market, Antonio... Continue Reading →
Petrobras Announces Early Redemption Prices for Notes Due 2018
Rio de Janeiro, June 20, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to holders in connection with its redemption of the outstanding 2.750% Global Notes due 2018 (“2.750% Notes”), 5.875% Global Notes due 2018 (“5.875% Notes”) and 4.875% Global... Continue Reading →
Senate setback for Brazil’s Temer rattles reform agenda, markets
A Brazilian Senate committee on Tuesday rejected President Michel Temer's labor reform bill, in an unexpected blow to his administration that does not kill the pro-market proposal but shows weakening support for his agenda. Even after being rejected in the social affairs committee by 10 to 9 votes, the proposal moves to the constitutional and... Continue Reading →
United States Supreme Court Denies Petition for Review by Lawyer Behind Fraudulent Chevron Ecuador Lawsuit
SAN RAMON, Calf.--(BUSINESS WIRE)--The United States Supreme Court has denied a certiorari petition seeking review of a decision by the U.S. Court of Appeals for the Second Circuit affirming extensive district court findings that a $9.5 billion Ecuadorian judgment against Chevron Corporation was the product of fraud and racketeering activity, and unenforceable in the United... Continue Reading →
Sale of Azulão Field in Amazonas Basin: Start of the binding phase
Rio de Janeiro, June 19, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 5/15/2017, informs the start of the binding phase regarding the transfer of Petrobras’ stake in the Azulão Field, in the Amazon Basin. At this stage of the project, the invitation letters are issued to potential buyers... Continue Reading →
Petrobras approves settlement with investors to end individual securities action in the United States
Rio de Janeiro, June 19, 2017 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, in a meeting held today, an agreement to settle an individual securities action brought before the U.S. federal District Court for the Eastern District of Pennsylvania by a number of funds affiliated with The Vanguard Group,... Continue Reading →
Brazil’s central bank sees conditions to cut rates further – Goldfajn
Conditions remain favorable for interest rates to continue falling in Brazil and the main risk for that scenario is uncertainty over proposed economic reforms, central bank chief Ilan Goldfajn said on Monday at an event in São Paulo, according to prepared remarks published online by the bank. The central bank has cut interest rates by... Continue Reading →
Petrobras – Oil and natural gas production in May
Rio de Janeiro, June 19, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that its total oil and natural gas production in May was 2.80 million barrels of oil equivalent per day (boed), of which 2.68 million boed produced in Brazil and 120 thousand boed produced abroad. The average oil production in the country was... Continue Reading →
DOF Subsea puts off IPO plans
Norwegian subsea services provider DOF Subsea has decided to wait with launching the initial public offering (IPO) after all due to volatile market. The company’s shareholders, DOF ASA with 51% and a fund managed by First Reserve with 49% ownership, started considering the opportunity for the company to apply for a listing on Oslo Stock Exchange in May.... Continue Reading →
ExxonMobil makes FID for Liza field off Guyana
Oil giant ExxonMobil on Friday made a final investment decision (FID) to proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The company also on Friday announced positive results from the Liza-4 well, which encountered more than 197 feet (60... Continue Reading →
Brazil Energy Insight 