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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 →
Dec 10, 2015 Petrobras CEO expects to sell $20 billion in debt in 2016: Bloomberg RIO DE JANEIRO/Reuters The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER Brazil's Petroleo Brasileiro SA (PETR4.SA) plans to sell about $20 billion of debt next year to finance its... Continue Reading →
This was the year Petroleo Brasileiro SA investors got what they had sought for decades: a chief executive with a mission to streamline and an independent chairman. Now one of them is gone. Clashes over everything from Formula 1 sponsorship to the spinoff of a fuel unit created a rift between CEO Aldemir Bendine, 51,... Continue Reading →
Murilo Ferreira, who heads miner Vale SA, stepped down as chairman of Brazil’s state oil producer Petroleo Brasileiro SA as the world’s biggest iron-ore producer navigates the worst commodity rout in seven years. His resignation from the Petrobras board, which comes after a seven-week leave of absence, was announced in a Petrobras filing Monday that didn’t give... Continue Reading →
Strong rumors from reliable sources point to possible final resignation of Murilo Ferreira as Chairman of Petrobras. The latest downgrade by S&P to junk level and infighting at the Petrobras Board of Directors might be the real reasons for the leave of absence. We are monitoring the situation closely.
Murilo Ferreira will take a leave of absence as chairman of state-run oil firm Petrobras, turning his full attention to his job as chief executive of Vale SA as the mining giant grapples with a downturn in the sector. Petroleo Brasileiro SA, as the company is formally known, did not give a reason for Ferreira's... Continue Reading →
For Petrobras investors battered by years of mismanagement, a new chief executive officer went from villain to hero in a matter of weeks. The critical question now: Can he keep his reformist streak going -- and with it a strong rally in Petrobras shares? Read More
Petrobras CEO: Asset Sales Won’t Reduce Debt Enough Company says it will have to strengthen governance to mitigate corruption risks Petrobras CEO Aldemir Bendine speaks during the presentation of the company’s audited 2014 financial results last week. Mr. Bendine on Tuesday said Petrobras’ asset-sale plan isn’t enough to reduce its debt to a desirable level. PHOTO: ANTONIO... Continue Reading →
PERSON IN THE NEWS January 30, 2015 10:53 pm Maria das Graças Foster, Petrobras chief Samantha Pearson in São Paulo Brazil oil major head’s career looks likely to end with corruption scandal, writes Samantha Pearson ©Joe Cummings Maria das Graças Foster is no average Brazilian executive. For a start, the chief executive of Petrobras is... Continue Reading →
January 30, 2015 6:12 pm Mopping up after the mess at Petrobras Corruption at the state-owned oil company brings chaos to Brazil ©AFP Petrobras represents the best and worst of Brazil. Its technical competence is renowned and it has vast deep sea reserves. Such were the lures that drew investors to the world’s largest equity offering... Continue Reading →
Brazil Energy Insight 