Brazil's state-controlled oil company Petrobras will pay its first shareholder dividend in three years if the company turns a profit in 2017, Chief Executive Officer Pedro Parente said on Wednesday. Parente took the helm of the world's most indebted energy company a year ago and said he is ahead of schedule with an aggressive restructuring... Continue Reading →
Petrobras – Clarification on preemptive right in the pre-salt layer
Rio de Janeiro, May 16, 2017 – Petróleo Brasileiro S.A. – Petrobras, in relation to the reports in the media about Petrobras’ preferential rights to act as operator in the areas offered in auctions for exploration and production in the pre-salt layer, clarifies that its technical staff is evaluating the possibility and the interest of... Continue Reading →
At the request of TCU, Petrobras changes rules for divestitures
05/16/2017 Petrobras announced on Tuesday the new rules of its program of partnerships and divestments, which had been suspended by determination of the TCU (Court of Audit of the Union). The first test will be the sale of the Azulão gas field in Amazonas, announced on Monday night (15). Following a recommendation from TCU, the state-owned company tries to give... Continue Reading →
Petrobras’s CEO sees need to empower middle management
The head of Brazil's state-controlled oil giant Petrobras has called in an international consultancy firm to make middle management at the scandal-hit firm more proactive. Petroleo Brasileiro SA last week posted a record first-quarter operating profit but Chief Executive Pedro Parente said the company's turnaround was still far from complete and one area where the... Continue Reading →
Petrobras announces the Pricing of Reopening of Outstanding Series of Global Notes
Rio de Janeiro, Brazil – May 15, 2017 – Petróleo Brasileiro S.A. – Petróleo Brasileiro S.A. – Petrobras announces the pricing of additional notes of its 6.125% Global Notes due 2022 (CUSIP No. 71647N AR0 / ISIN No. US71647NAR08) (the “2022 Notes”), 7.375% Global Notes due 2027 (CUSIP No. 71647N AS8 / ISIN No. US71647NAS80)... Continue Reading →
Petrobras captures US $ 4 billion
05/16/2017 Petrobras announced the raising of US $ 4 billion in the international market, through the issuance of debt securities. The funding was raised through the reopening of the sale of securities maturing in 2022, 2027 and 2044. The proceeds will be used to extend the term of the company's indebtedness, with the prepayment of... Continue Reading →
Sale of Azulão Field in Amazonas Basin: Disclosure of the Teaser – Petrobras
Río de Janeiro, May 15, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has started the disclosure phase of the Teaser regarding the transfer of Petrobras’ stake in the Azulão Field, in the Amazonas Basin. In this project, Petrobras offers 100% of the stake in the Azulão Field (Concession BA-3), located in... Continue Reading →
Rowan scoops two Petrobras jack-up rigs for bargain price
Drilling contractor Rowan Companies has provisionally bought two Petrobras jack-up rigs for just $30 million a piece. According to a statement by Rowan, dated May 11, the company participated in a public rig auction and was the high bidder for Petrobras’ P-59 and P-60 jack-ups. The drilling contractor said that the two 2013-built LeTourneau Super... Continue Reading →
Petrobras – CARF definitive ruling regarding the deductibility of expenses in the development of production for the purposes of calculating taxable income
Rio de Janeiro, May 12, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that today was notified about the final decision in favor of the company of the Administrative Board of Tax Appeals (CARF), in a fiscal administrative proceeding related to the moment of deductibility of expenses incurred by Petrobras in the development of oil... Continue Reading →
Petrobras Presentation – 1Q 2017 Results
Please see attached presentation. PBR Presentation 1Q 2017 results
Brazil Energy Insight 