Rio de Janeiro, May 10, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 199/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 199/2016-CVM/SEP/GEA-1 “Dear Officer, I refer to the news item published today in the Blog de Lauro Jardim, which, among other matters, affirms that Petrobras’ balance sheet, to be published on... Continue Reading →
Fitch reviews Petrobras’ global ratings
Rio de Janeiro, May 11, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch announced the revision of Petrobras' corporate debt rating to BB from BB+, with negative outlook. This review follows the change in the sovereign rating, as announced on May, 5th.
Petrobras Seeks $1 Billion China Loan Faster Than Planned
Brazil’s state-controlled oil company Petrobras is seeking a $1 billion loan from the Export-Import Bank of China before originally planned as its debt service costs surge in the coming years amid the worst oil market in a generation. Petroleo Brasileiro SA, as it is formally known, is negotiating a definitive contract with the Chinese lender after... Continue Reading →
Petrobras – 1st Quarter 2016 Results Release Date
Rio de Janeiro, April 27, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 1st quarter 2016 results on May 12nd,after the market is closed. Therefore, between April 28th and May 12nd, the Company will be in quiet period, during which Petrobras will not be able to provide clarifications or comment... Continue Reading →
Petrobras – Clarification on News: Business and Management Plan
Rio de Janeiro, April 19, 2016 - Petróleo Brasileiro S.A.-Petrobras hereby responds to Official Letter No. 165/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 165/2016/CVM/SEP/GEA-1 “Dear Sir, We refer to the news item published today in the newspaper Valor Econômico, Business section, under the title: "Petrobras Plan does not reduce the volume of debt",... Continue Reading →
Clarification of News Item: Petrobras overestimates returns from projects
Rio de Janeiro, April 7, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 148/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 148/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Empresas (Companies) section of the newspaper Valor Econômico, entitled: Petrobras superestimou em US$ 45 bi o retorno... Continue Reading →
Petrobras – Clarification on News: Conditions of the Loan with the China Development Bank (CDB)
Rio de Janeiro, April 04, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 140/2016/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 140/2016/CVM/SEP/GEA-1 “Dear Executive Officer, We present clarifications about the news item published today on the O Estado de São Paulo newspaper, Seção Economia (Economy Section), under the title: “China conditions... Continue Reading →
Petrobras sought arbitration for Sete Brasil talks
State-controlled Petróleo Brasileiro SA unsuccesfully sought the appointment of arbiters to rework a long-term contract with debt-laden drilling rig leaser Sete Brasil Participações SA, according to three sources with knowledge of the situation. The proposal, made in recent weeks, called on each party to name three mediators to rework the contract, said the sources, who... Continue Reading →
Petrobras’s Best-in-the-World Stock Rally Comes With Some Risks
Petroleo Brasileiro SA, Brazil’s state-run oil giant, surged 81 percent in dollar terms in March, the biggest gain among the world’s 1,000 biggest companies. The rally masks trouble under the hood that may derail the winning streak. Here’s the rub: The embattled crude producer hasn’t undergone any fundamental improvements. Instead, the gains have been fueled... Continue Reading →
Brazil’s Petrobras says to save $9 bln with voluntary layoffs
Executives of Brazil's state-run oil producer Petroleo Brasileiro SA approved a voluntary layoff program to cut about 12,000 jobs and save 33 billion reais ($9.20 billion) by 2020, the company said in a statement on Friday. The program will cost 4.4 billion reais ($1.23 billion) to be implemented, Petrobras said. The layoffs will help Petrobras... Continue Reading →
