Rio de Janeiro, June 06, 2016 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter 239/2016-CVM/SEP/GEA-1 which requests clarifications as transcribed below: Official Letter 239/2016-CVM/SEP/GEA-1 “Dear Executive Officer, We refer to the news item published today on Valor Econômico newspaper, Seção Empresas (companies section), under the title: “State-owned company negotiates installment payment of debt... Continue Reading →

June 7,2016 - Reuters Brazilian chief prosecutor Rodrigo Janot asked the Supreme Court to authorize the arrest of the presidents of the Senate and the ruling PMDB party and former president José Sarney for allegedly trying to obstruct police investigations, newspaper O Globo said on Tuesday. The decision to move ahead was in the hands... Continue Reading →

Royal Dutch Shell Plc cut spending plans further and promised increased savings following its record purchase of BG Group Plc, as Europe’s largest oil company continues to adjust to the slump in energy prices. Shell will spend $29 billion this year, it said Tuesday. That compares with a May forecast for capital expenditure “trending toward”... Continue Reading →

Angola will investigate reports of a $50 billion shortfall in the accounts of the state-run oil company, local newspaper Valor Economico reported, citing unidentified people close to international consultants hired to restructure the company. The assessment uncovered “discrepancies” between the funds received and invested and showed that the company had withheld revenue to the government,... Continue Reading →

YPF SA, Argentina’s state-controlled oil company, has named Total SA managing director Ricardo Darre as chief executive officer, a person familiar with the decision said. Darre, the head of the U.S. exploration and production unit since August 2014 at France’s largest oil company, was selected for the role, said the person, who asked not to be... Continue Reading →

Brazil’s real posted its longest winning streak in five weeks, swept up in a rally for emerging-market currencies that overshadowed domestic political turmoil. The Ibovespa dropped. The real advanced 1.1 percent to 3.4894 per dollar Monday in Sao Paulo, rising for the fourth consecutive day. The Ibovespa slipped 0.4 percent after swinging between gains and... Continue Reading →

Brazil's prosecutor general found evidence linking the tourism minister of interim President Michel Temer to the corruption scheme at state-run oil company Petroleo Brasileiro SA, newspaper Folha de S. Paulo reported on Monday. Prosecutor General Rodrigo Janot included intercepted phone messages in a request to the Supreme Court for a formal investigation of Tourism Minister... Continue Reading →

Devon Energy Corp., the energy producer that’s targeted $3 billion of asset sales to fund drilling and lower debt, agreed to sell fields in Texas and Oklahoma and a royalty interest in the northern Midland Basin for almost $1 billion to undisclosed buyers. The largest transaction was for reserves in East Texas for $525 million,... Continue Reading →