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Petróleo Brasileiro S.A. - Petrobras informs that an arbitral panel seated in New York, has issued an award in an arbitration initiated by IESA Óleo e Gás S.A. determining the payment of approximately US$ 37 million, plus interest, by its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) and the payment of approximately US$ 33 million, plus... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/20/2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the Dutch special purpose companies controlled by... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, as of today, the amount of R$ 232.6 million, as a result of a leniency agreement entered into between the Federal Prosecutor's Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the company as... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it presented today a request for arbitration with an indemnity claim estimated at approximately R$ 800 million, against Odebrecht S.A., based on the shareholders' agreement regarding Braskem, for violations of its terms.Braskem is not part of this arbitration, which is protected by confidentiality.
Petróleo Brasileiro S.A. – Petrobras informs that it signed today with Petrorecôncavo S.A. a contract for the assignment of its entire stake in 12 onshore exploration and production fields, denominated Remanso Cluster, located in the state of Bahia. The sale value is US$ 30 million, being (i) US$ 4 million paid on the present date;... Continue Reading →
Rio de Janeiro, December 17, 2020 - Petróleo Brasileiro S.A. - Petrobras informs that, on this date, the payment of R$ 190 million was made to the Pension Fund of the Employees of the Bank of Brazil - Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain... Continue Reading →
The government intends to offer large blocks on land, up to 36 thousand km², in addition to reducing costs and entry barriers for contracting exploration areas. The proposals are the result of Reate, the Oil and Natural Gas Exploration and Production Activity Revitalization Program in Onshore Areas. - The program was created in 2017, under... Continue Reading →
Forbearance agreements between offshore drilling contractor Seadrill Limited and its creditors related to the company’s senior secured credit facility agreements and leasing arrangements have expired. As a result, Seadrill is exposed to legal actions if it fails to make necessary payments on time. Seadrill entered into forbearance agreements with certain creditors in respect of its senior... Continue Reading →
(Reuters) - Brazilian investigators are pursuing the first criminal probe of current executives at commodities trading firm Trafigura on allegations they approved the bribery of employees at state-controlled oil producer Petrobras, according to three people familiar with the matter. The investigation has focused on two of the three top Trafigura directors, Co-head of Oil Trading Jose... Continue Reading →
(Reuters) - Ecuadorian state-run oil company Petroecuador is weighing a lawsuit against Vitol after the world’s largest oil trader admitted last week to bribing officials in the South American country, according to two sources with direct knowledge of the matter. Petroecuador is working with the nation’s attorney general to assess how much the Vitol-led graft... Continue Reading →
Brazil Energy Insight 