Wed Sep 28, 2016 | 12:34pm EDT The President of Statoil in Brazil said on Wednesday that the Norwegian oil producer is looking at opportunities in Brazil's offshore oil region known as the Subsalt Polygon. Brazil's government is seeking to end a requirement that state-run firm Petrobras operate all oil fields in the Subsalt Polygon... Continue Reading →
OPEC Agrees to First Oil Output Cut in Eight Years
OPEC agreed to cut production for the first time in eight years, according to a delegate briefed on the matter, sending oil prices more than 6 percent higher as Saudi Arabia and Iran wrong-footed traders who expected a continuation of the pump-at-will policy the group adopted in 2014. In two days of round-the-clock talks in Algiers,... Continue Reading →
Sale of Petroquímica Suape and Citepe: Extension of the Negotiations
Rio de Janeiro, September 27 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to negotiations for the sale of its stakes in Companhia Petroquímica de Pernambuco (Petroquímica Suape) and Companhia Integrada Têxtil de Pernambuco (Citepe), disclosed by Material Fact in 07/28/2016, informs that the negotiations with Alpek continue, having been extended for another 30... Continue Reading →
Brazil’s Economy Probably Starting to Rebound, Moody’s Says/WSJ
Analyst says investor confidence is slowly returning A vendor, left, handed a shopper change at a street market in São Paulo in July. Brazil’s expansion could surprise on the positive side in 2017, a Moody’s analyst said Tuesday. PHOTO: BLOOMBERG NEWS By LUCIANA MAGALHAES Sept. 27, 2016 SÃO PAULO—Brazil’s economy has probably started to rebound... Continue Reading →
Brazil senator, husband indicted in Petrobras scandal
Brazilian Senator Gleisi Hoffmann and her husband, who both served in the ousted government of former President Dilma Rousseff, were indicted on Tuesday by the Supreme Court on corruption and money laundering charges in the Petrobras graft investigation. Hoffmann, who was chief of staff to Rousseff during her first term, and husband Paulo Bernardo, will... Continue Reading →
Mexico’s Alpek gets extension for talks over Petrobras units purchase
| Tue Sep 27, 2016 / Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Cubatao, Brazil, April12, 2016. REUTERS/Paulo Whitaker Mexican company Alpek said on Tuesday it had received a 30-day extension for exclusive talks to purchase petrochemical units of Brazilian state oil firm Petrobras (PETR4.SA). Petrobras in... Continue Reading →
Brazil should pass law easing Petrobras subsalt rights this year -IBP
Wed Sep 28, 2016 | Reuters A bill ending the requirement that Brazil's state-led oil company Petrobras lead all new projects in the country's Subsalt Polygon should become law by year end, Jorge Camargo, president of the country's oil industry association IBP, said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has... Continue Reading →
Moody’s says easing capital concerns at Petrobras are good for Brazil
Tue Sep 27, 2016 | Reuters Concerns have subsided this year that Brazil's state-run oil company Petroleo Brasileiro SA will need a capital injection, improving the outlook for government finances, Moody's Investors Service said on Tuesday. Moody's senior analyst Samar Maziad also said at an event in Sao Paulo that Colombia's peace process was positive... Continue Reading →
BRIEF-Brazil’s Petrobras CEO says will bring down debt quickly
Tue Sep 27, 2016 | Reuters Chief Executive of Brazil's state-run oil company Petroleo Brasileiro SA Pedro Parente says: * Plans to reduce company debt load rapidly * Company will only gain from ending regulatory requirement it be operator in all subsalt fields * Expects regulatory changes from government within months that will stimulate new... Continue Reading →
Weatherford International to pay $140 million for accounting fraud
Oil services company Weatherford International LLC [WEATH.UL] (WFT.N) has agreed to a $140 million penalty to settle charges it inflated earnings by using deceptive income tax accounting, the U.S. Securities and Exchange Commission said on Tuesday. Two Weatherford senior accounting executives at the time also agreed to settle charges that they were behind the scheme,... Continue Reading →
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