Rio de Janeiro, May 24, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 226/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 226/2016-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 Parente deve assumir Petrobras no dia 31 (Parente... Continue Reading →
Petrobras – Changes in Management
Rio de Janeiro, May 23, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby informs the market that its Board of Directors held an extraordinary meeting today to analyze the nomination of executive Pedro Parente to the positions of Chairman of the Board of Directors and Chief Executive Officer (CEO) of the Company. At the meeting... Continue Reading →
Clarification on News: Resignation of the CEO Aldemir Bendine
Rio de Janeiro, May 20, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 222/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 222/2016-CVM/SEP/GEA-1 “Mr. Director, We refer to the news item published today in the newspaper Estadão Online, News section, under the title: "To make the change in Petrobras... Continue Reading →
Former Bunge Brasil CEO Parente picked to run Petrobras
Brazil's interim President Michel Temer has decided to appoint engineer and former Bunge executive Pedro Parente to be chief executive of ailing state-run oil company Petrobras, O Globo newspaper reported on Monday. Parente was chief of staff of former president Fernando Henrique Cardoso, during whose administration he successfully managed a severe energy crisis that required... Continue Reading →
If You Like Delivering Bad News, Petrobras Has the Job for You
What used to be corporate Brazil’s top job as Chief Executive Officer is now a tough gig to sell. The likely impeachment of President Dilma Rousseff has raised expectations for a leadership change at state-controlled Petrobras. The president has traditionally chosen the CEOs at banks and companies that are controlled by the government, even... Continue Reading →
UPDATE 2-Petrobras cuts management, streamlines as it fights graft, oil drop
Brazil's Petrobras said on Thursday it will cut about one in five management jobs, streamline operations and boost oversight as the state-led oil company adapts to low oil prices and tries to boost confidence after a corruption scandal. The measures will save Petrobras, formally known as Petroleo Brasileiro SA, about 1.8 billion reais per year... Continue Reading →
Brazil’s Petrobras Distribuidora elects interim CEO
Jan 26, 2016 Reuters Petrobras Distribuidora SA, the fuel distribution unit of state-run oil company Petroleo Brasileiro SA, said on Tuesday it had elected Ivan de Sá Pereira Junior as its interim chief executive. Petrobras, as the company is known, has said it wants to sell at least 25 percent of the unit to a... Continue Reading →
Brazil prosecutors study text messages to Rousseff aide, Petrobras CEO: paper
Brazilian prosecutors are investigating text messages from an engineering executive that may show President Dilma Rousseff's chief of staff favored construction firms that donated to his party while he was state governor, the Estado de S. Paulo newspaper reported on Thursday. A separate set of messages from the same executive may indicate Aldemir Bendine, chief... Continue Reading →
Petrobras CEO’s Challenges Aren’t Going Away/WSJ
Oil giant’s turnaround is stalled amid cheap oil prices and high debt Aldemir Bendine has been the company’s chief for 11 months. Aldemir Bendine has been the company’s chief for 11 months. PHOTO: UESLEI MARCELINO/REUTERS By WILL CONNORS and PAUL KIERNAN Jan. 4, 2016 8:50 p.m. ET RIO DE JANEIRO—In his 11 months at the... Continue Reading →
Scandal-hit Petrobras faces new challenge
http://www.ft.com/cms/s/0/9daaa982-a9a0-11e5-843e-626928909745.html#ixzz3vpx8YoiQ December 30, 2015 2:18 pm Scandal-hit Petrobras faces new challenge Joe Leahy in São Paulo/FT Brazil’s largest oil group must grapple with large debts and lawsuits but can count on state backing At a Christmas breakfast with journalists, Aldemir Bendine, the chief executive of Petrobras, said Brazil’s state-controlled oil company was aiming to become “smaller”... Continue Reading →
Brazil Energy Insight 