Dec 28, 2015 Reuters Dec 28 Brazil's state-controlled Petróleo Brasileiro SA met a $700 million goal for asset sales this year following the divestment of a minority stake in a gas distribution unit to Mitsui & Co Ltd. In a securities filing, the company known as Petrobras said that Mitsui paid on Monday 1.93 billion... Continue Reading →
Fitch reviews Petrobras’ rating
12/17/2015 Rio de Janeiro, December 17, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the risk rating agency Fitch reviewed Petrobras' rating from BBB- to BB+, with negative outlook. This review follows the change in the sovereign rating, as announced on 12/16/2015.
Petrobras – Clarification of News Item: Free Cash Flow
12/16/2015 Rio de Janeiro, December 16, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 3762/2015-SAE, which requests the following clarifications: Official Letter 3762/2015-SAE “Dear Sirs, A news item published today in the newspaper Valor Econômico on December 16, 2015, states, among other matters, that, for the first time in eight years,... Continue Reading →
Brazilian state threatens new oil tax over royalty dispute
Dec 14 Brazil's state of Rio de Janeiro, home to the bulk of the country's oil production, threatened on Monday to impose a new tax on oil and natural gas in the state if the country's oil regulator ANP does not adjust its royalty calculation. The state, whose budget has been hurt by a nearly... Continue Reading →
Petrobras – Clarification on News: Hedge Accounting
12/10/2015 Rio de Janeiro, December 10, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 529/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter no. 529/2015/CVM/SEP/GEA-1 “We refer to the article published in the Economia & Negócios (Economy and Business) section of today’s edition of the newspaper O Estado de São Paulo, entitled:... Continue Reading →
Petrobras Tries American-Shale Boys’ Tack to Survive Oil Crisis
The head of Brazil’s troubled oil giant is carving a path through the the worst oil rout in a generation that would look familiar to producers throughout the U.S. shale patch: focus on the core. Petroleo Brasileiro SA is preparing to deepen spending cuts and concentrate on its best fields to confront the collapse of... Continue Reading →
Primary activity grinds to halt as Petrobras in focus
Bankers covering Latin America are ready to put 2015 behind them, as a rout in oil prices and more negative headlines out of Brazil indicate December is likely to end with virtually no issuance out of the region. Hopes that opportunistic borrowers might try to exploit a narrow window before a key Federal Reserve meeting... Continue Reading →
Oil Giants Pledge Even Deeper Spending Cuts Amid Prolonged Slump
Some of the biggest oil explorers in the Western Hemisphere are cutting budgets yet again to conserve cash as a plunge in energy markets shows no signs of abating. ConocoPhillips will reduce capital spending by 25 percent next year to $7.7 billion to protect the highest dividend yield among major U.S. oil producers, the Houston-based... Continue Reading →
Moody’s reviews Petrobras’ rating
12/09/2015 Rio de Janeiro, December 9, 2015 – Petróleo Brasileiro S.A. – Petrobras informs Moody’s Investors Service reviewed Petrobras' rating from Ba2 to Ba3, with negative outlook. According to Moody’s, this revision reflects elevated refinancing risks due to deteriorating industry conditions, difficulties to implement the divestment plan, high level of debt maturities in the coming... Continue Reading →
Petrobras – Clarification on News: Fine on Withdrawal from Sete Brasil Rig Contracts
12/08/2015 Rio de Janeiro, December 8, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 524/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter no. 524/2015/CVM/SEP/GEA-1 “We refer to the article published in the Mercado (Market) section of Folha de São Paulo newspaper on December 4, 2015 entitled: “Without Sete’s rigs, Petrobras will... Continue Reading →
