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Leaders of Brazil's largest oil workers' union said on Friday they had proposed ending a 13-day strike, the most disruptive in 20 years, at state-run oil firm Petroleo Brasileiro SA, or Petrobras. The union, known as FUP, said on its website that it had made progress on its main goal of reversing investment cuts and... Continue Reading →
Petrobras's poor third-quarter results, weaker oil prices and reports that the Brazilian finance minister may step down sent the country's bonds on another rollercoaster ride on Friday. Petrobras bonds were off the intra-day low Friday afternoon but still as much as 1.5 points down on the day after the state-owned oil company posted a R$3.76bn... Continue Reading →
Petroleo Brasileiro SA is looking to fight back the junk debt ratings that have made its borrowing costs balloon. The oil industry’s most indebted major producer is studying ways to borrow against future crude exports as part of an effort to cut its dependency on international capital markets, Chief Financial Officer Ivan Monteiro said during a... Continue Reading →
Friday 13, 2015 English presentation of the Petrobras Webcast 3Q, 2015 Webcast-3T15-Ingles
Newspaper Valor Economico’s real-time news service reported that Rousseff has not yet decided on a replacement for Levy, and there is no set date for his exit. The new minister would not be totally autonomous, the news report says without disclosing how it got the information. The currency also declined as slowing credit growth in... Continue Reading →
11/13/2015 Rio de Janeiro, November 13, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that, its Board of Directors approved the appointment of Mário Vinícius Claussen Spinelli as the Company’s new Ombudsman General. As disclosed on May 15, 2015, the Company approved the restructuring of the Ombudsman General’s Office, including the appointment of a... Continue Reading →
Oil stockpiles have swollen to a record of almost 3 billion barrels because of strong production in OPEC and elsewhere, potentially deepening the rout in prices, according to the International Energy Agency. This “massive cushion has inflated” on record supplies from Iraq, Russia and Saudi Arabia, even as world fuel demand grows at the fastest pace... Continue Reading →
Nov 13 Leaders of Brazil's main oilworkers' union said on Thursday that a contract offer from Petrobras falls short of their demands and sought a meeting with the company's chief executive officer to discuss their requests. Meanwhile the 12-day strike will go on, said FUP, as Brazil's largest oilworkers union federation is known, in a... Continue Reading →
Petroleo Brasileiro SA will start a road show next week to talk to investors and find “strategic partners” for its Brazilian operations as part of an effort to reduce the biggest debt load in the oil industry, Chief Financial Officer Ivan Monteiro said Thursday. Executives will travel to countries including the U.S., China, Mexico, Canada... Continue Reading →
Rio de Janeiro – November 12, 2015 - THIRD QUARTER OF 2015 RESULTS - Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese). . Net income was R$ 2,102... Continue Reading →
Brazil Energy Insight 