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Petrobras Transporte S.A. – Transpetro new CEO 06/17/2015 Rio de Janeiro, June 17th 2015 - Petróleo Brasileiro S.A. - Petrobras informs that the Board of Directors of its wholly-owned subsidiary Petrobras Transporte S.A. – Transpetro, in a meeting held today, designated Mr. Antônio Rubens Silva Silvino, current Executive Manager of Corporate Downstream in Petrobras, as... Continue Reading →
Bets against the Brazilian real are at a four-month low as President Dilma Rousseff musters political support for efforts to cut budget deficits and preserve the nation’s credit rating. Read More
Brazil’s audit tribunal summoned President Dilma Rousseff to explain signs of irregularities in the 2014 fiscal accounts that prevented the court from approving the country’s financial statements. Read More
Demand for investment-banking services slowed in Brazil on concern the nation’s credit rating would be cut, combined with the biggest corruption scandal in the country’s history, involving the state-owned oil company known as Petrobras. The slide will probably ease later this year, according to Jean-Marc Etlin, chief executive officer for Banco Itau BBA SA’s investment-banking... Continue Reading →
China’s anti-corruption investigators continued to zero in on the nation’s oil giants, calling on two of its biggest state-owned companies to review their overseas investments and accusing them of nepotism. One wonders if the recent investments in Brazil's pre salt Libra field will be investigated. Read More
According to local press sources, Petrobras is mulling over selling its natural gas subsidiary, Gaspetro. This is part of the divestment plan. Petrobras has hired Itau BBA Bank to structure the sale. Mitsui Gas and Energy is quoted as being the most likely candidate for the take over. Mitsui is already a joint venture partner... Continue Reading →
Chief Executive Officer Aldemir Bendine is backing Energy Minister Eduardo Braga’s plan to give the state-controlled company the right to allow foreign drillers to lead pre-salt projects as Petrobras focuses on containing capital expenditures and reducing the industry’s biggest debt load, the people said, asking not to be named as the matter is private. Read... Continue Reading →
Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday. Read More
U.S. regulators have given the green light for Royal Dutch Shell's (RDSa.L) proposed $70 billion acquisition of British rival BG Group (BG.L), the first clearance for the biggest deal in the energy sector in over a decade. Read More
Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. Petrobras, which is struggling with a corruption scandal, falling oil prices, stagnant output, and the largest debt of any... Continue Reading →
Brazil Energy Insight 