An aggressive turnaround helped Petroleo Brasileiro SA post a record operating profit in the first quarter and move ahead of schedule in reducing a debt burden that is the largest of any major oil firm. Petrobras, as the state-controlled company is known, reported net income of 4.449 billion reais ($1.42 billion), well above a consensus... Continue Reading →
Petrobras 1 Quarter Financial Report and Statements
Rio de Janeiro - May 11, 2017 - FIRST QUARTER OF 2017 RESULTS - Derived from consolidated interim financial information reviewed by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Please see attached PBR 1Q 2017 Fin.report PBR 1Q 2017 Fin. Statements PBR 1Q Fin. Report USD PBR 1Q Fin Statements... Continue Reading →
Petrobras has a profit of R $ 4.45 billion in the first quarter
05/11/2017 Updated at 18h38 Despite the fall in sales and revenue, Petrobras recorded a profit of R $ 4,449 billion in the first quarter of 2017, reversing a loss of R $ 1,246 billion in the same period of the previous year. In the balance sheet released on Thursday (11), the company says its... Continue Reading →
Petrobras – New divestment portfolio
Rio de Janeiro, May 10, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the material fact disclosed on 3/31/2017, informs that its Executive Board has approved the recomposition of its partnership and divestment portfolio. Among these projects, there are the sales of Pasadena Refinery and of the interest in Petrobras Oil & Gas B.V.... Continue Reading →
Petrobras includes Texas refinery, African assets in divestment plan
Wed May 10, 2017 May 10 Petróleo Brasileiro SA will include its Pasadena, Texas refinery and its African assets in a divestment plan, the Brazilian state-controlled oil company said in a Wednesday securities filing. Petrobras, as the company is known, reaffirmed its target of divesting up to $21 billion in assets by the end of... Continue Reading →
Exxon, Petrobras Said to Hold Talks on Wide-Ranging Partnership
Exxon Mobil Corp. and Petrobras have held talks on a strategic partnership that could involve multiple assets in Brazil and overseas in different segments of the industry, similar to the $2.2 billion deal signed with Total SA in December, said people familiar with the conversations. Such a deal could give Exxon access to oil fields... Continue Reading →
Cost cuts, NTS sale to boost first-quarter profit at Petrobras
Profit at Brazilian state-controlled oil firm Petróleo Brasileiro SA probably rose to the highest level in almost two years in the first quarter, benefiting from stringent cost-cutting and one-time gains from the $5.2 billion sale of a natural gas pipeline unit, analysts said on Tuesday. Net income at Rio de Janeiro-based Petrobras likely came in... Continue Reading →
Petrobras looks to sell Texas refinery for $200 million: Bloomberg
Brazilian state-controlled oil company Petróleo Brasileiro SA is looking to sell its refinery in Pasadena, Texas, for less than $200 million, Bloomberg News reported on Tuesday, citing two sources, far less than its purchase price. Petrobras, as the company is known, paid $1.2 billion in two installments in 2006 and 2012. Read more
Petrobras – Clarification on News: Sale model for BR Distribuidora
Rio de Janeiro, May 9, 2017 – Petróleo Brasileiro S.A. – Petrobras, in connection to the news published in the media, clarifies that there has been no decision on the sale model of BR Distribuidora by either its Executive Board or Board of Directors. The company further clarifies that it is currently analyzing whether to... Continue Reading →
Petrobras – Court ruling on the sale of equity interest in BR Distribuidora
Rio de Janeiro, May 8, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the material fact disclosed on 12/5/2016, reports that it was informed today of the decision by the federal court of Sergipe state to dismiss, without prejudice, the popular interest suit aiming to suspend the sale process of equity interest in its... Continue Reading →
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