Rio de Janeiro – November 10, 2016 - THIRD QUARTER OF 2016 RESULTS - Derived from consolidated interim financial information reviewed by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Loss R$ 16.5 billion Production 2,869 Mbbl/d Adjusted EBITDA R$ 21,603 million pbr-3q2016-financial-statements pbr-3q2016-results
Petrobras posts surprising loss amid massive asset impairments
Brazilian state-controlled oil company Petróleo Brasileiro SA posted an unexpected third-quarter loss on Thursday after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais ($4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and... Continue Reading →
Petrobras 3rd Quarter 2016 Results Release Date
Rio de Janeiro, October 26, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 3rd quarter 2016 results on November 10th, after the market is closed. Therefore, between October 27th and November 10th, the Company will be in quiet period, during which Petrobras will not be able to provide clarifications or... Continue Reading →
BRIEF-Moody’s upgrades Petrobras’ ratings to B2, changes outlook to ‘stable’
Oct 21 Moody's: * Moody's upgrades Petrobras' ratings to B2; changes outlook to stable * Actions on Petrobras' ratings reflect improvements in company's liquidity profile and in regulatory framework in brazil over last few months * Petrobras' ratings have stable outlook; expect that, in next 12 to 18 months, company's liquidity and overall credit risk... Continue Reading →
BRIEF-Brazil’s Petrobras CEO says will bring down debt quickly
Tue Sep 27, 2016 | Reuters Chief Executive of Brazil's state-run oil company Petroleo Brasileiro SA Pedro Parente says: * Plans to reduce company debt load rapidly * Company will only gain from ending regulatory requirement it be operator in all subsalt fields * Expects regulatory changes from government within months that will stimulate new... Continue Reading →
Petrobras Streamlines Business to Survive Graft Probe, Oil Bust
The combined shock of low oil prices and Brazil’s biggest corruption scandal is changing state-controlled oil producer Petroleo Brasileiro SA. The company, based in Rio de Janeiro, is abandoning a state-development model pursued during 13 years of control under the Workers’ Party where the government shifted profits to side industries to create jobs and... Continue Reading →
Strategic Plan and Business and Management Plan 2017-2021 Presentation
Rio de Janeiro, September 20, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, at a meeting held yesterday, the new Strategic Plan and the Business and Management Plan 2017-2021. The Strategic Plan and Business and Management Plan were drawn up in an integrated manner and had the direct involvement... Continue Reading →
Petrobras wants to contract platform outside of Brazil to be installed in the Libra area
Petrobras wants to contract platform outside of Brazil to be installed in the Libra area, the big bet on the pre-salt Santos Basin. The company requested the National Agency of Petroleum (ANP), the release of the obligation to hire Brazilian suppliers for the construction of the vessel, with the argument that prices in Brazil are... Continue Reading →
Petrobras – Strategic Plan and 2017-2021 Business and Management Plan
Click below for complete Strategic Plan and 2017/2021 Business and Management Plan. petrobras-2017-2021-english
Petrobras Slashes Business Plan 25 Percent to $74 Billion
Petroleo Brasileiro SA reduced investments by 25 percent and is accelerating asset disposals in its latest business plan as it downsizes to withstand low international oil prices amid Brazil’s deepest two-year recession on record. The 2017-2021 plan, the first drafted under Chief Executive Officer Pedro Parente, focuses on accelerating debt reduction and retreating from peripheral... Continue Reading →
