Presentation by Pedro Parente, CEO, Petrobras Turns Around petrobras turn arounf P Parente
Petrobras says eased Brazil content rules could boost revenue
Wed Apr 12, 2017 The logo of state-run oil company Petrobras is pictured in the company headquarters in Vitoria, Espirito Santo, Brazil, February 10, 2017. REUTERS/Paulo Whitaker Changes to water down strict local content rules on equipment to extract deep sea oil could help Brazil's government earn 31 billion reais ($9.9 billion) worth of royalties... Continue Reading →
Petrobras Production of oil and natural gas in March
Rio de Janeiro, April 13,2017 - Petróleo Brasileiro S.A. - Petrobras informs that its total production of oil and natural gas in March was 2.74 million barrels of oil equivalent per day (boed), of which, 2.61 million boed produced in Brazil and 130,000 boed produced abroad. Average oil production in the country was 2.12... Continue Reading →
CNPE approves bidding for four areas in the 3rd Round of the pre-salt in November
The National Council for Energy Policy (CNPE) approved the holding of the 3rd Round of pre-salt areas under the distribution regime in November of this year, with the bidding areas of the Pau-Brasil, Peroba, Alto de Cabo Frio-Oeste and Alto de Cabo Frio-Central. During the meeting, the CNPE approved a multi-year calendar for ten rounds... Continue Reading →
Brazil graft probe sparks hopes of change, fears of chaos
For some in Brazil, the decision by a Supreme Court judge to place many top politicians under investigation for suspected corruption, including leading contenders in next year's presidential race, clears the way for a new era in politics. The sweeping probe ordered by Justice Luiz Edson Fachin encompassed all the likely presidential candidates from Brazil's... Continue Reading →
Ex-Pemex CEO Denies Allegations of Involvement in Brazil Scandal
Former Petroleos Mexicanos Chief Executive Officer Emilio Lozoya denied participating in an alleged bribery scheme involving Brazilian construction company Odebrecht SA in Mexico, after Veja magazine reported the executive was mentioned in connection with an ongoing corruption probe. "I haven’t requested nor have I received illegal money," Lozoya said in an emailed response to questions... Continue Reading →
Brazil steps up rate cuts to boost economic recovery
Brazil slashed interest rates to their lowest in over two years on Wednesday, accelerating the pace of its rate-cutting cycle to revive an economy still reeling from its deepest recession ever. In a unanimous vote, the central bank's 9-member monetary policy committee, known as Copom, decided to lower its benchmark Selic rate by 100 basis... Continue Reading →
Brazil’s Temer urges business as usual after massive bribery probe
Brazil's President Michel Temer urged lawmakers on Wednesday to push ahead with business as usual, a day after a Supreme Court justice ordered corruption probes into 98 politicians, including leading legislators and a third of his cabinet. Temer avoided commenting on the unprecedented wave of investigations triggered by plea bargain testimony from executives at engineering... Continue Reading →
PDVSA Notes Rally After Venezuela Makes Good on $2.2 Billion Debt Paymen
Bonds issued by Venezuela’s state oil company rallied after the country made $2.2 billion in payments on notes that matured Wednesday. The $1.1 billion of notes from Petroleos de Venezuela that come due in seven months gained 2.1 cents to 87.3 cents on the dollar as of 3:17 p.m. in New York. The payment, which... Continue Reading →
Brazil likely to step up monetary easing to spur recovery
Brazil's central bank is widely expected to speed up monetary easing on Wednesday, taking advantage of slowing inflation to try to revive an economy still struggling with its deepest recession on record. All but one of the 47 economists polled by Reuters expected the bank to cut its benchmark Selic rate BRCBMP=ECI by 100 basis... Continue Reading →
Brazil Energy Insight 