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Aug 2, 2019 Petrobras President Roberto Castello Branco said that the company is reviewing its strategic plan and expects to announce to the market the new strategy in November. He pointed out that the plan will focus on cost reduction. "We want to bridge the gap that separates us from our peers," he said in... Continue Reading →
Petrobras had a good financial performance in 2Q19, although we benefited from external factors beyond our control, such as oil prices, the BRL/USD exchange rate and crack spreads, and non-recurring events, such as assets divestments. Accounting net income excluding non-recurring factors was R$ 5.2 billion and operating cash flow reached R$ 20.5 billion. Advances in... Continue Reading →
July 16, 2019 The President of Petrobras, Roberto Castello Branco, and the President of Uruguay, Tabaré Vázquez, met with the objective of seeking a definitive solution on the disputes arising from the concessions of Conecta SA and the Gas Distributor of Montevideo SA. The presidents reached the bases of an agreement, by which: a) The... Continue Reading →
Brazilian state-run oil firm Petrobras is considering an end to its participation in a program certifying good governance and limited political interference in state companies set up by the Sao Paulo stock exchange, two sources told Reuters. Chief Executive Roberto Castello Branco is pushing the possibility of exiting the Distinction in Governance Program for State-Run... Continue Reading →
June 12, 2019 Petrobras is expected to complete the study in September to enable the joint venture (JV) with CNPC, which will be responsible for completing Comperj in Itaboraí (RJ). The information is from the president of the company, Roberto Castello Branco. The JV's formation is foreseen in an agreement signed by the oil companies... Continue Reading →
June 12, 2019 Petrobras President, Roberto Castello Branco, said the company intends to invest $ 105 billion and raise between $ 30 billion and $ 35 billion with the divestment program over the next five years. The figures give a sign that the company expects to increase asset sales and how much the oil company... Continue Reading →
Petrobras will launch bids for three new oil rig platforms in 2018. Petrobras president Pedro Parente reported that he has already begun the bidding process to contract a platform (FPSO) for the Búzios field in the pre -salt. In addition, two more bids will be made: one for the revitalization of the Marlim field... Continue Reading →
The clock is ticking for Petrobras’ Pedro Parente. Chief executive officer since May 2016, Parente has set an aggressive agenda to solidify the state-controlled company’s finances after the twin challenges of the oil rout and a corruption scandal dealt it a near-death experience. Now, he’s rushing to finish his work before an unpredictable presidential campaign makes... Continue Reading →
Petrobras CEO, Pedro Parente, presentation to investors in New York See attached presentation CEO-Presentation-Petrobras-Day-New-York-2017_0
Aldemir Bendine, who ran the state-run oil giant and Banco do Brasil, is accused of receiving bribes Aldemir Bendine, who was arrested and faces corruption charges as part of Brazil’s Car Wash probe, has denied any wrongdoing. PHOTO: ERALDO PERES/ASSOCIATED PRESS By Luciana Magalhaes Aug. 22, 2017 1:27 p.m. ET SÃO PAULO—Prosecutors leading Brazil’s largest-ever corruption probe... Continue Reading →
Brazil Energy Insight 