Bailing-out state-controlled oil producer Petroleo Brasileiro SA could cost the government as much as $21 billion, according to research from Citigroup Inc. That would be the amount necessary to plug the company’s cash hole and fix the capital structure on a sustainable basis were oil to fall to $20 for 12 months, Citigroup credit analysts... Continue Reading →

Jan 20, 2016  Reuters BY PAUL KILBY NEW YORK, Jan 20 (IFR) - Petrobras bonds found little respite on Wednesday after the Brazilian oil company announced it had begun negotiations to sell its Argentina unit. The company's curve was down about 1.25 to two points in what was another ugly session for Latin American credit... Continue Reading →

Oil producer Petroleo Brasileiro SA led a drop in Brazilian stocks as commodities slumped on fears of slowing global growth and after a comment from the central bank ahead of an interest rate decision raised concerns of government interference in monetary policy. Petrobras tumbled 6.7 percent to 4.35 reais, set for the lowest closing level... Continue Reading →

01/20/2016 Rio de Janeiro, January 20, 2016 – Petróleo Brasileiro S.A. – Petrobras, concerning the news items published in the media regarding the sale of its assets in Argentina, hereby announces that it began negotiations for the sale of its interest in Petrobras Argentina. Nevertheless, until now, there are no deals signed securing the conclusion... Continue Reading →

Brazil's Rousseff Says She Won't Rule Out Petrobras Rescue Sabrina Valle Arnaldo Galvao Anna Edgerton January 15, 2016 — Brazilian President Dilma Rousseff said her administration would be willing to evaluate government assistance to support state oil company Petroleo Brasileiro SA if conditions in the energy market continue to deteriorate. "We won’t rule out that... Continue Reading →

 Jan 15, 2016  Reuters Brazil's state-led oil company Petroleo Brasileiro SA said on Friday it had canceled plans to sell as much as 3 billion reais ($744 million) of local-market bonds after being unable to sell the debt at rates acceptable to both the company and investors. Petrobras, as the company is commonly known, had... Continue Reading →

Brazil’s state-controlled oil producer Petrobras further cut spending and reduced estimates for its production growth amid the worst oil market in a generation and a massive corruption scandal. The stock tumbled. Petroleo Brasileiro SA, as the company is formally known, slashed its business plan in the five years through 2019 to $98.4 billion, the latest... Continue Reading →

01/12/2016 Rio de Janeiro, January 12, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors has approved certain adjustments to the 2015-2019 Business and Management Plan (2015-2019 BMP). These adjustments are designed to preserve the fundamental objectives of deleveraging and the generation of value for shareholders established by the 2015-2019... Continue Reading →

01/07/2016 Rio de Janeiro, January 7, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 61/2016-SAE, which requests the following clarifications: Official Letter 61/2016-SAE “A news item published by Agência Estado – Broadcast on January 7, 2016 states, among other information, that: ü Petrobras’ budget this year will be R$75.6 billion, 9%... Continue Reading →