Rio de Janeiro, August 28, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it has initiated the opportunity disclosure stage (Teasers) related to the full sale of its exploration, development and production rights in three sets of onshore fields (totaling 50 concessions), located in Rio Grande do Norte and Bahia states, as per the... Continue Reading →
Material Fact – Petrobras approves corporate restructuring at Petrobras Distribuidora
Rio de Janeiro, August 25, 2017 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved the corporate restructuring of its wholly-owned subsidiary, Petrobras Distribuidora S.A. (BR), which will involve the following operations: 1. Capital contribution of Petrobras to BR, in the amount of approximately R $ 6.3 billion; 2. Corporate spin-off... Continue Reading →
Petrobras – Executive Office for Governance and Compliance
Rio de Janeiro, August 23, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors, in a meeting held today, analyzed the decision by the Public Ethics Committee of the President of the Brazilian Republic (“CEP”) to issue a warning to the Chief Governance and Compliance Executive Officer (“GCEO”), João Adalberto Elek... Continue Reading →
Brazil regulator discloses details for pre-salt oil auctions
Brazil's oil regulator ANP on Wednesday released details about the upcoming auctions of oil exploration rights in the promising pre-salt offshore area that are scheduled for Oct. 27. Through production sharing contracts, firms will be able to bid on eight blocks in the Santos and Campos basins, including three prospects for which state-controlled oil giant... Continue Reading →
Petrobras wants to close FPSO contract for Libra 1 until the end of the year
Tuesday, 22 August 2017 17:34 Petrobras expects to close the charter contract for the Libra pilot project later this year, Libra's General Deployment Project Manager Osmond Coelho Junior said on Tuesday. According to him, despite the easing of the local content rules proposed by the National Petroleum, Gas and Biofuels Agency (ANP), the company maintains... Continue Reading →
Petrobras: New taxation model for the oil and gas industry
Rio de Janeiro, August 23, 2017 – Petróleo Brasileiro SA – Petrobras informs that on August 18, 2017, the Provisional Measure No. 795 was published for the oil and gas industry, in addition to Decree No. 9.128, which extended the special customs regimen for the export and import of goods intended for research activities and... Continue Reading →
Brazilian Prosecutors Charge Former Petrobas CEO With Corruption
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 →
Petrobras Clarification on News: Sale process of Termobahia stake
Rio de Janeiro, August 21, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it received Official Letter 290/2017/CVM/SEP/GEA-1 on 8/21/2017, requesting the following clarification: Official Letter n. 290/2017/CVM/SEP/GEA-1 “Mr. Director, We refer to the news published on 8/21/2017, in the Valor Online newspaper, under the headline “Liminar suspende venda de 50% da TermoBahia, da... Continue Reading →
Pre-salt auctions to offer reserves of 2.5 billion barrels
The two pre-salt auctions that will be held in 2017 will offer at least 2.5 billion barrels of reserves. The figure is a conservative estimate: it considers that only 20% of the 12.3 billion barrels identified by the ANP in the areas can be recovered. Typically, the average recovery of reserves in Brazil ranges from... Continue Reading →
Petrobras Suffers Growing Pains in Brazil’s Freed Up Fuel Market
Zema, a 94 year-old retailer of toys and appliances in Brazil’s interior, has become an unlikely thorn in the side of state-controlled oil behemoth Petroleo Brasileiro SA. This year Zema, which also runs gas stations, got its first fuel import license and joined a fast-growing group of new players that managed to, at least temporarily, squeeze... Continue Reading →
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