The president of Petrobras, Pedro Parente, believes that a change in the law is necessary to make possible an agreement between Petrobras and the federal government on the exploration contract for pre-salt areas, the so-called onerous assignment. Oil reserves were granted by the government during the capitalization of Petrobras in 2010. At the time, the... Continue Reading →
Petrobras CEO says Exxon expressed ‘strong interest’ in pre-salt oil
U.S. oil company Exxon Mobil Corp (XOM.N) expressed to Brazil's state-controlled company Petrobras (PETR4.SA) "strong interest" in the exploration of deep-water oil fields off the Brazilian coast, Petrobras Chief Executive Pedro Parente said on Tuesday. "Considering movements towards a strategic partnership, we have nothing concrete with Exxon, but they have certainly expressed strong interest in... Continue Reading →
Petrobras – CARF ruling on taxes calculation
Rio de Janeiro, April 5, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the Brazilian Administrative Board of Tax Appeals (CARF) issued yesterday a decision on an administrative tax procedure that upholds taxation, for the purposes of calculating the Income Tax of Legal Entities (IRPJ) and the Social Contribution on Net Profits (CSLL) for... Continue Reading →
Petrobras – Sale of interest in Nova Transportadora do Sudeste completed
Rio de Janeiro, April 4, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it concluded today the sale transaction announced on September 23, 2016, of 90% of the company's shares in Nova Transportadora do Sudeste ("NTS") to Nova Infraestrutura Fundo de Investimentos em Participações ("FIP"), managed by Brookfield Brasil Asset Management Investmentos Ltda, an... Continue Reading →
Petrobras CEO sees debt falling below reduction target by end 2018
Brazil's state-controlled oil firm Petroleo Brasileiro SA could reduce debt below a projected target of 2.5 times Ebitda by the end of next year, Chief Executive Officer Pedro Parente said on Tuesday. According to Parente, that would be possible if the company maintains the current trend of debt reduction. Petrobras has a debt load of... Continue Reading →
Exxon Eyes Brazil Expansion/WSJ
Oil company in talks to partner with Petrobras on offshore oil projects By BRADLEY OLSON and PAUL KIERNAN Updated April 4, 2017 10:41 a.m. ET Exxon Mobil Corp. XOM +0.02% , the only big oil company without a major foothold in Brazil, is in talks to gain access to the country’s prized deep-water resources, according... Continue Reading →
Brazil’s black market pipeline: Gangs hijack Petrobras’ oil, fuel
In September, police investigating a wave of killings in the northern Rio de Janeiro suburbs followed a tip to the isolated scrubland near the massive Duque de Caxias oil refinery. Police presumed the killings were linked to turf battles between criminal gangs in the run-up to municipal elections the following month. They found a different... Continue Reading →
Court Rules in Favor of EIG in “Lava Jato” Corruption Scheme
Claims Against Petrobras to Proceed in D.C. Federal Court April 03, 2017 12:36 PM Eastern Daylight Time WASHINGTON--(BUSINESS WIRE)--EIG Global Energy Partners (“EIG”) today announced that the United States District Court for the District of Columbia (the “Court”) ruled in its favor in an action brought by its EIG Energy Funds XIV and XV... Continue Reading →
Court decision regarding EIG Group lawsuit
Rio de Janeiro, March 31, 2017 – Petróleo Brasileiro S.A. – Petrobras announces that, on March 30, 2017, the United States District Court for the District of Columbia granted in part Petrobras’s preliminary defense (motion to dismiss) in the lawsuit filed by funds of the EIG Group, related to its investment in Sete Brasil Participações... Continue Reading →
Petrobras – ANP’s notice on government participation in Lula Field
Rio de Janeiro, March 31st, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that Consortium BM-S-11 received, on March 30th, 2017, a notice issued by the National Petroleum, Natural Gas and Biofuels Agency - ANP, regarding Lula Field, Santos Basin pre-salt, in the amount of R$ 2.6 billion. This assessment is due to divergence in... Continue Reading →
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