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Dec 20, 2019 The Executive Board and Board of Directors of Petrobras have approved the final terms of an agreement with Sete Brasil (the “Agreement”) subject to the fulfillment of precedent conditions. The Agreement preserves the terms previously announced: (i) maintenance of charter and operation contracts regarding four drilling rigs, with 10-year terms and daily... Continue Reading →
Royal Dutch Shell (RDSa.L) said on Friday it expects impairment charges of up to $2.3 billion in the fourth quarter and trimmed its forecast for quarterly oil product sales, as the Anglo-Dutch oil company faces slowing demand for oil and gas. The company warned in October that trade tensions between the United States and China,... Continue Reading →
-Patria Investments, Shell and Mitsubishi Hitachi Power Systems Americas (MHPS) have announced the signing of a contract with Brazil’s State-owned development bank (BNDES) to finance the gas-powered Marlim Azul Energia thermoelectric plant, in Macaé (Rio de Janeiro State). The loan approved by the federal bank for the construction of the plant is R$ 2 billion,... Continue Reading →
December 19, 2019 Royalties are the most traditional form of taxation of mineral resources in the world. It is compensation for the exploitation of a mineral resource designed to ensure that future generations enjoy the benefits that exploitation of the non-renewable natural resource provides to the current generation. In the Brazilian case, according to Law... Continue Reading →
12/19/2019 Petrobras launched the website New Paths (www.petrobras.com.br/novoscaminhos ), a channel created to explain the strategies and business decisions of the company. In addition to the site, an advertising campaign featuring two television films and Internet plays will invite people to learn more about the portfolio management at Petrobras. The main message is to explain... Continue Reading →
Brazil’s Economy Minister Paulo Guedes said on Wednesday he had reached agreement with Congressional leaders on modernizing the country’s complex tax system next year and one option could be taxing on-line transactions. Brazil has brought its snowballing public debt under control with reform of the costly pension system and spending cuts, he said, while interest... Continue Reading →
December 18, 2019 Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,352,827,349.18, corresponding to R$ 0.42 per outstanding preferred share. The payment will be made on February 07,... Continue Reading →
December 18, 2019 Petróleo Brasileiro S.A. - Petrobras reports that, under the scope of its ongoing contingency assessment process, it has decided to join the Programs for Partial Tax Remission and Interest and Fine Reduction on VAT (ICMS) Debt established by the states of Amazonas, Alagoas, Bahia, Pernambuco, Rio Grande do Sul and Sergipe. The... Continue Reading →
Dec 18, 2019 Petrobras plans to invest U$ 49.5 billion in production development projects between 2020 and 2024 The Buzios field, in the Santos Basin pre-salt, will receive the largest volume of investments foreseen in the Petrobras 2020-2024 Strategic Plan. The projection is that the asset will absorb U$ 18 billion over the next five... Continue Reading →
Dec 16, 2019, Odebrecht shifts command at a crucial time for the company. Current group president Luciano Guidolin will be replaced by Ruy Sampaio, currently chairman of the board. The company has a meeting of creditors about the judicial recovery scheduled for Thursday, the 19th. Guidolin is expected to remain a member of the board of directors of... Continue Reading →
