Brazil's state-controlled oil company Petroleo Brasileiro SA does not expect political turmoil caused by a massive corruption investigation to affect its asset sales and debt reduction program, Chief Executive Officer Pedro Parente said Thursday. The Petrobras CEO also said the company will not stop deleveraging once the target of 2.5 times EBITDA is reached. He... Continue Reading →
Petrobras – R$ 7 billion financing transaction with Banco do Brasil
Rio de Janeiro, June 1st, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that it has executed today a financing transaction with Banco do Brasil, as an Export Credit Note (ECN) modality, in the amount of R$ 7 billion, with maturity in 2022. Simultaneously, the company prepaid ECNs in the amount of R$ 6 billion,... Continue Reading →
Petrobras – Legal proceedings related to Petros Plan
Rio de Janeiro, June 01, 2017 – Petrobras informs that the Federal Court recognized, in a first instance decision, the deductibility in the tax basis of the Corporate Income Tax and the Social Contribution on Net Profits of expenses related to the renegotiation of Petros Plan. However, such deduction would be limited to 20% of... Continue Reading →
Petrobras – Inclusion of Debts in the Tax Regularization Program
Rio de Janeiro, June 1, 2017 – Petrobras informs that it requested the inclusion of tax debts in the Tax Regularization Program (Programa de Regurarização Tributária) created by Provisional Measure 766/2017 and governed by Normative Instruction of the Brazilian Federal Revenue Service No. 1.687/2017 and National Treasury Attorney's Office Ordinance No. 152/2017. Enrollment in this... Continue Reading →
INVESTORS ASK FOR REIMBURSEMENT OF R $ 4.475 BILLION FOR LOSSES WITH SETE BRASIL
MAY 31, 2017 Sete Brasil has been in judicial disputes between shareholders for some time as a result of the Lava Jato's revelations, the drop in the price of oil, and the cutback in Petrobrás investments, but now the dispute has advanced a notch. The investors of the company have filed a request for international arbitration... Continue Reading →
BW OFFSHORE AND PETROBRAS NEGOTIATE FIELD WHERE FPSO CITY OF SÃO MATEUS WILL OPERATE
May 30, 2017 BW Offshore is still in discussions with Petrobras to decide which field will be the final destination of the FPSO Cidade de São Mateus when the unit, which suffered an explosion in 2015, is again in operation. At the time of the tragedy, which made nine fatalities, the platform ship was... Continue Reading →
Petrobras – Favorable Court decision related to the sale of Liquigás
Rio de Janeiro, May 30, 2017 - Petróleo Brasileiro S.A. - Petrobras informs that, today, obtained a unanimous favorable decision from the Federal Regional Court of the 5th Region, maintaining the prior decision from the Federal Justice of Sergipe, regarding the proceed of the sale of its wholly-owned subsidiary Liquigás Distribuidora S.A. (“Liquigás”). The sale... Continue Reading →
Brazil court orders Petrobras to supply natural gas to Eletrobras
A Brazilian court ordered state-controlled oil firm Petróleo Brasileiro SA to sell natural gas to Centrais Elétricas Brasileiras SA despite the power utility's billionaire debt with the oil company. Eletrobras, as the state-controlled utility is known, plans to use the gas to begin testing a thermal power station under construction in the Amazon region that... Continue Reading →
PETROBRÁS RECEIVES APPROVAL FOR ITAPU DEVELOPMENT PLAN
May 29, 2017 The Itapu field, part of the Onerous Cession and located in the Santos Basin pre-salt, will receive an FPSO with the capacity to produce 120,000 barrels of oil per day. Petrobras, which operates the area, has received approval from the ANP for the field development plan. The FPSO is expected to be... Continue Reading →
Petrobras takes DOF’s anchor handler for one year
DOF informed in an Oslo Stock Exchange filing on Monday that the anchor handling tug and supply vessel Skandi Admiral has been awarded a one-year contract with the Brazilian state-owned oil company Petrobras. The shipping company said that the contract will start by the end of May or in early June. The 1999-built Skandi Admiral is... Continue Reading →
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