Minority shareholders of Brazilian state oil giant Petroleo Brasileiro are respected again under the leadership of Chief Executive Pedro Parente, and management is on the same page, a company board member said. Marcelo Mesquita, who has represented holders of common shares on Petrobras' board for almost a year, said that investors are now certain that... Continue Reading →
Brazil’s Petrobras has recovered $227 million from Operation Car Wash
JULY 19, 2017 RIO DE JANEIRO (Reuters) - Brazilian state-controlled oil company Petroleo Brasileiro said on Wednesday it has recovered 716 million reais ($227.24 million) through Operation Car Wash, an investigation into the country's largest-ever corruption scheme. The probe uncovered kickbacks from executives to powerful politicians in return for contracts at state-run enterprises, especially Petrobras,... Continue Reading →
Brazil approves long-term tests at Petrobras Libra platform
JULY 18, 2017 / 6:30 PM SAO PAULO (Reuters) - Brazil's environmental agency Ibama has issued an operating license for long-term tests at the Pioneiro de Libra floating platform operated by Petroleo Brasileiro SA , according to a statement on the agency's website on Tuesday. The license was issued on condition that the operators of... Continue Reading →
Start of negotiations to revise the Braskem Shareholder’s Agreement
Rio de Janeiro, July 18, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has begun negotiations with Odebrecht S.A. to promote the revision of the terms and conditions of the Braskem S.A. Shareholder's Agreement, celebrated on February 8, 2010. This revision aims to improve Braskem’s corporate governance and the corporate relationship between the... Continue Reading →
Petrobras – Oil and natural gas production in June
Rio de Janeiro, July 17, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in June was 2.81 million barrels of oil equivalent per day (boed), of which 2.70 million boed produced in Brazil and 113 thousand boed produced abroad. The average oil production in Brazil was 2.20... Continue Reading →
Petrobras – Decision of CVM Collegiate in favour of Petrobras on the application of Hedge Accounting
Rio de Janeiro, July 11, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact published on March 7, 2017, hereby reports that at a meeting held today, the Collegiate of the Securities and Exchange Commission of Brazil ("CVM"), upheld the appeal filed by the company in relation to Letter No. 30/2017/CVM/SEP/GEA-5. The... Continue Reading →
Petrobras – Favorable decision by CVM Collegiate on Sanctioning Administrative Process
Rio de Janeiro, July 11, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that the Collegiate of the Securities and Exchange Commission of Brazil ("CVM"), in a public meeting held today, expressed an understanding favorable to the company in the CVM Sanctioning Administrative Process no. RJ2015/10276. The purpose of said process is to investigate a... Continue Reading →
Approval of public offering of shares of Petrobras Distribuidora (BR)
Rio de Janeiro, July 11, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact of June 22, 2017, reports that its Board of Directors approved at a meeting held today, the initial public offer of its fully-owned subsidiary Petrobras Distribuidora S.A. (BR), which will be effected through a secondary public offering of... Continue Reading →
Petrobras Refineries/Sale
Petrobras will divulge their model for asset sales in the area of refining within 30 days. In some cases, the company will keep only a minority participation. Any similarity between the timing of the recently signed MOU with CNPC is not a mere coincidence. According to leaked information from the company, CNPC will not only... Continue Reading →
Brazil’s Petrobras, UTC at odds over services contract cancellation
Brazilian engineering firm UTC Engenharia SA and state-controlled oil giant Petroleo Brasileiro on Monday gave conflicting reasons for halting a platforms-servicing contract in the Campos Basin, in a spat that could hit operations. Petrobras, as the oil company is known, said in a press release that UTC chose unilaterally to discontinue construction services on the... Continue Reading →
