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(Reuters) - Brazilian fuel distributors are scrambling to secure diesel supplies for March and April after state-run oil company Petrobras said it would not fully meet their demand, adding to uncertainty amid a sudden management shakeup. National oil industry regulator ANP confirmed to Reuters that distributors are searching for alternative diesel supplies after Petrobras turned... Continue Reading →
(Reuters) - Brazil’s state-controlled oil company Petrobras received only one proposal, from Holland’s SBM Offshore, in a bid to contract construction of the Mero 4 oil platform in the Santos Basin pre-salt, two sources with knowledge of the matter told Reuters. Petrobras’ business plan foresees Mero 4 entering operation in 2025 with a capacity to... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up the press release disclosed on February 19, 2021, in response to the Ministry of Mines and Energy's Official Letter requesting measures to convene an Extraordinary General Meeting (EGM) in order to promote the replacement and election of a member of the Board of Directors, and appointing Joaquim Silva... Continue Reading →
SBM, after successive postponements, was apparently the only company to bid on Petrobras' tender for the chartering of the FPSO Mero 4, which will be installed in the production sharing field of the same name, in the Santos Basin. Modec did not offer and Misc Berhard, which analyzed the project but did not submit. (Reuters)... Continue Reading →
(Reuters) - Brazilian state-run oil group Petrobras recovered some of its recent share price losses on Tuesday as the board met to consider Brazil President Jair Bolsonaro’s nomination of a retired general to replace the company’s market-friendly CEO. Shares in Petroleo Brasileiro SA, as the company is officially known, rose as much as 8% after... Continue Reading →
South Korean shipbuilder Samsung Heavy Industries agreed to pay 812 million reais ($148.56 million) in a leniency deal with Brazilian authorities to settle corruption investigations, federal prosecutors said late on Monday. On its website, the prosecutor's office said the deal was part of a global negotiation between the company and U.S. and Brazilian authorities to... Continue Reading →
(Reuters) - Morgan Stanley removed its ‘like’ recommendation on Brazil sovereign bonds on Monday, citing fiscal concerns and potential spillovers after the head of state-run oil firm Petrobras was sacked by the country’s President Jair Bolsonaro. The right-wing populist’s intervention in one of Brazil’s most valuable companies, along with a vow to reduce prices in... Continue Reading →
(Reuters) - Brazil’s securities regulator CVM is investigating the management changes at state-run oil company Petroleo Brasileiro SA, its website showed on Monday, following President Jair Bolsonaro’s announcement last week that he will replace chief executive Roberto Castello Branco. The post on the CVM website gave no details about the investigation, but comes after Petrobras... Continue Reading →
(Reuters) - Petrobras shares traded in New York plunged nearly 17% in premarket trading on Monday as analysts cut ratings on the stock after far-right Brazilian President Jair Bolsonaro moved to replace the state-controlled oil company’s market friendly CEO with a retired army general. Credit Suisse, Scotiabank, Bank of America, Bradesco and XP analysts were... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it received a letter from the Ministry of Mines and Energy, requesting measures to convene an Extraordinary General Meeting in order to promote the election and replacement of a Board of Directors member, and to appoint Joaquim Silva e Luna to replace Roberto da Cunha Castello Branco. Additionally,... Continue Reading →
