The situation has been critical at the Rio Grande naval complex for some time, but the horizon does not bring good news. The resumption of the construction of P-71, which was one of the local hopes, is not in Petrobras' plans, according to President Pedro Parente, who alleged "no use" for the platform -... Continue Reading →
HIGH PRESSURE OF CARCARÁ INFLUENCED SALES OF THE AREA TO STATOIL
Apr 6, 2017 The Carcará field is considered one of the jewels of the pre-salt, due to huge estimates of oil reserves, and left the hands of Petrobras recently to be controlled by the Norwegian Statoil, which bought 66% of the asset for $ 2.5 Billion, but according to the president of Petrobras, Pedro Parente,... Continue Reading →
Petrobras believes change in the law is necessary for agreement on pre-salt onerous assignment
The president of Petrobras, Pedro Parente, believes that a change in the law is necessary to make possible an agreement between Petrobras and the federal government on the exploration contract for pre-salt areas, the so-called onerous assignment. Oil reserves were granted by the government during the capitalization of Petrobras in 2010. At the time, the... Continue Reading →
Petrobras CEO says Exxon expressed ‘strong interest’ in pre-salt oil
U.S. oil company Exxon Mobil Corp (XOM.N) expressed to Brazil's state-controlled company Petrobras (PETR4.SA) "strong interest" in the exploration of deep-water oil fields off the Brazilian coast, Petrobras Chief Executive Pedro Parente said on Tuesday. "Considering movements towards a strategic partnership, we have nothing concrete with Exxon, but they have certainly expressed strong interest in... Continue Reading →
Petrobras could get back 5.5 billion reais in corruption probe: CEO
Fri Nov 18, 2016 | Reuters Brazil's state-run oil company Petroleo Brasileiro SA Chief Executive Officer Pedro Parente attends an economics and politics forum in Sao Paulo, Brazil, September 30, 2016. REUTERS/Paulo Whitaker Brazilian state-controlled oil company Petróleo Brasileiro SA could receive up to 5.5 billion reais ($1.6 billion) back as a result of an... Continue Reading →
Petrobras CEO says wage hikes of last decade are impossible today
Fri Sep 30, 2016 | Reuters Brazil's state-led oil company Petrobras is unable to give its workers the kind of pay raises that increased company salaries by about 50 percent in real, inflation-adjusted terms over the past decade, Chief Executive Pedro Parente said on Friday. Petroleo Brasileiro SA, as Petrobras is formally known, is in... Continue Reading →
Brazil’s Petrobras CEO says to halve leverage ratio before 2020
Sun Sep 11, 2016 Brazil's state-run oil firm Petroleo Brasileiro SA will seek to reduce its leverage ratio to 2.5 from 5 currently before 2020, Chief Executive Officer Pedro Parente told newspaper O Estado de S. Paulo in an interview on Sunday. Parente said the leverage target will be included in the business plan to... Continue Reading →
CORRECTED-Petrobras expects bids for BR fuel unit by November -CEO
Wed Jul 27, 2016 Reuters (Corrects to say Petrobras will have 60 to 75 percent of total fuel unit stock after sale, not 60 to 65 percent) Brazil's state-controlled oil company Petróleo Brasileiro SA expects to receive binding offers for a controlling stake in its fuel distribution unit, BR Distribuidora, by late November or early... Continue Reading →
Petrobras meeting with investors July 11, 2016
Petrobras CEO Pedro Parente and other Directors met with investors on July 11, 2016. Read attached presentation Reuniao-com-Investidores-Presidente-Diretores-Ingles
Petrobras – Clarification about the Chief Strategy, Organization and Management System Officer
Rio de Janeiro, July 1, 2016 – Petróleo Brasileiro S.A. – Petrobras, with regard to the news items published about the new Chief Strategy, Organization and Management System Officer, announces that Mr. Nelson Luiz Costa Silva is currently the name appointed to occupy said position. The Company highlights, however, that the creation of the new... Continue Reading →
Brazil Energy Insight 