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The decision by global energy service firm TechnipFMC to split into two separate listed companies has been described as a “bold move” by research firm Wood Mackenzie (Woodmac). Commercial intelligence group Woodmac said the news that the London-headquartered firm is to split shows is intent on “playing the long game” and positioning itself for a... Continue Reading →
August 28, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that it has been notified of final decision, without possibility of appeal, from the Administrative Board of Tax Appeals (CARF) that canceled a debt of R$ 5.9 billion in favor of the company regarding the approval of PIS and Cofins credits. The decision will result... Continue Reading →
August 28, 2019 Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors, in a meeting held today, approved the new Shareholder Compensation Policy. The new policy aims to establish an objective parameter for the payment of earnings, providing investors with more transparency on their compensation, considering the company's indebtedness and cash flow. The... Continue Reading →
Brazil’s influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatizing state-owned oil company Petrobras (PETR4.SA), but stiff political opposition could stifle any effort to sell the country’s corporate crown jewel. Petrobras, or Petroleo Brasileiro SA, was founded in 1953 by former president Getulio Vargas following a nationalist campaign that... Continue Reading →
August 28, 2019 Cade approved, without restrictions, the sale by Petrobras of control of 11 shallow water offshore fields from the Campos Basin to Trident Energy. The completion of the U$1 billion operation was announced by the state company in mid-July. Petrobras has bid the fields three times. In July 2018, the state-owned company announced... Continue Reading →
Brazil’s economy was stable or expanded slightly in the second quarter and while growth should pick up in the coming months, low inflation means there is room for more stimulus, central bank president Roberto Campos Neto said on Tuesday. In testimony to the Senate’s economic committee, Campos Neto also said that the central bank is... Continue Reading →
August 23, 2019 Petróleo Brasileiro S.A – Petrobras, in relation to the news reported in the media, clarifies that as part of the competitive process of divestment of its entire stake in Liquigás Distribuidora S.A. the consortium formed by Itaúsa, Copagaz and Nacional Gás Butano presented the best binding offer for the acquisition of this... Continue Reading →
August 23, 2019 Petróleo Brasileiro S.A. - Petrobras informs that the rating agency Moody raised its stand-alone credit profile (SCP) by one notch to "ba2" from " ba3" and affirmed the “Ba2“ corporate rating, with a stable outlook. Moody's highlighted that the SPC upgrade reflects Petrobras' continued success in improving its credit metrics and liquidity... Continue Reading →
AUG 23, 2019 The expected jump by the National Petroleum Agency (ANP) in drilling activity next year will bring a large increase in investment volume. According to estimates, the amount will reach R$ 23.5 billion. This is a significant increase of 144% when compared to the R $ 9.6 billion forecast for 2019. As we... Continue Reading →
Aug 23, 2019 Modec do Brasil has completed the issuance of a US $ 1.1 billion bond to finance one of its vessels in Brazil, the FPSO Cidade de Mangaratiba, in operation since 2014 in the Iracema Sul area, in the Lula pre-salt area. “This is the first public issuance to fund a Floating Production... Continue Reading →
