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 →
Petrobras, Brazil dispute transfer of rights worth $30 billion: report
Brazil's government and state-run oil company Petroleo Brasileiro are locked in a dispute over the value of offshore oil blocks involving an estimated $30 billion, newspaper Valor Econômico reported on Friday. The dispute, which has previously been reported, centers on a 2010 contract in which Petrobras paid the government for the transfer of exploratory rights... Continue Reading →
Exclusive: Few foreign bids expected for Petrobras $1 billion natgas project
(Reuters) - Taking aim at local corruption, Brazil is trying to get competition among global players to build a $1 billion natural gas plant, but the number of foreign bids will be smaller than anticipated due to more stringent requirements, sources said. Brazil's state oil company Petroleo Brasileiro SA excluded large local engineering firms implicated... Continue Reading →
Petrobras – Public Offering of Debentures with Limited Distribution Efforts: Bookbuilding Procedure Concluded
Rio de Janeiro, August 16, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the material fact July 26, 2017, reports that the bookbuilding procedure (“Bookbuilding”) for the 5th (fifth) issue of simple, non-convertible, unsecured debentures ("Issuance" and "Debentures") has been concluded, resulting in the distribution of Debentures amounting to R$ 4,988,819,000.00 (four billion, nine... Continue Reading →
Brazil prosecutors to investigate Petrobras Argentina sale
Prosecutors investigating Brazil's biggest-ever corruption scandal will probe last year's sale of the Argentine subsidiary of Petrobras, Brazil's state oil company, a lawyer representing its minority shareholders on Wednesday. Petrobras, formally known as Petroleo Brasileiro SA (PETR4.SA), sold its 67.2 percent stake in Petrobras Argentina SA for $892 million to Pampa Energia SA (PAM.BA), Argentina's... Continue Reading →
Brazil Energy Insight 