Fri Sep 30, 2016 | Reuters Brazil's state-led oil company Petrobras is unable to give its workers the kind of pay raises that increased company salaries by about 50 percent in real, inflation-adjusted terms over the past decade, Chief Executive Pedro Parente said on Friday. Petroleo Brasileiro SA, as Petrobras is formally known, is in... Continue Reading →
Brazil may let Petrobras sell transfer of rights area oil stakes
Fri Sep 30, 2016 | Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Sao Caetano do Sul, Brazil, September 28, 2016. REUTERS/Paulo Whitaker Brazil's government may let state-led oil company Petrobras sell stakes in offshore oil blocks, known as transfer of rights areas, to help finance their development,... Continue Reading →
Brazil M&A Rebounds as Petrobras Divestments Begin in Earnest
Dealmaking in Brazil is finally mounting a revival. Mergers and acquisitions in the country increased 35 percent to $16.6 billion in the third-quarter, compared with the same period last year, led by a spate of energy deals involving state-controlled Petroleo Brasileiro SA. Even more striking were the $11.1 billion in inbound transactions, according to data... Continue Reading →
Brazil slams Panama for not helping in Petrobras graft probe
Brazil's top prosecutor's office complained on Thursday that Panama had failed to deliver banking information requested over a year ago in the massive corruption investigation surrounding state-controlled oil company Petróleo Brasileiro SA. Brazilian prosecutors suspect financial institutions were used to move offshore millions of dollars in graft money from the scheme at the company known... Continue Reading →
Brazil oilworkers reject Petrobras offer, prepare for strike
Thu Sep 29, 2016 | Reuters Brazil's largest oilworkers' federation, FUP, said on Thursday that its members voted overwhelmingly to reject a contract offer from Petroleo Brasileiro SA, or Petrobras, and are preparing for a strike. The union plans to continue talks with Petrobras starting at 2 p.m. (1700 GMT) in Rio de Janeiro and... Continue Reading →
Petrobras – Approval of Dividends Policy and Appointment Policy for Board of Directors, Executive Officers and Fiscal Council members
Rio de Janeiro, September 28, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors approved, at a meeting held today, the Dividends Policy and Appointment Policy for members of the Executive Board, Fiscal Council, Board of Directors of Petrobras and external participants who integrate its advisory committees. The Dividends Policy... Continue Reading →
Sale of Petroquímica Suape and Citepe: Extension of the Negotiations
Rio de Janeiro, September 27 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to negotiations for the sale of its stakes in Companhia Petroquímica de Pernambuco (Petroquímica Suape) and Companhia Integrada Têxtil de Pernambuco (Citepe), disclosed by Material Fact in 07/28/2016, informs that the negotiations with Alpek continue, having been extended for another 30... Continue Reading →
Mexico’s Alpek gets extension for talks over Petrobras units purchase
| Tue Sep 27, 2016 / Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Cubatao, Brazil, April12, 2016. REUTERS/Paulo Whitaker Mexican company Alpek said on Tuesday it had received a 30-day extension for exclusive talks to purchase petrochemical units of Brazilian state oil firm Petrobras (PETR4.SA). Petrobras in... Continue Reading →
Brazil should pass law easing Petrobras subsalt rights this year -IBP
Wed Sep 28, 2016 | Reuters A bill ending the requirement that Brazil's state-led oil company Petrobras lead all new projects in the country's Subsalt Polygon should become law by year end, Jorge Camargo, president of the country's oil industry association IBP, said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has... Continue Reading →
Moody’s says easing capital concerns at Petrobras are good for Brazil
Tue Sep 27, 2016 | Reuters Concerns have subsided this year that Brazil's state-run oil company Petroleo Brasileiro SA will need a capital injection, improving the outlook for government finances, Moody's Investors Service said on Tuesday. Moody's senior analyst Samar Maziad also said at an event in Sao Paulo that Colombia's peace process was positive... Continue Reading →
Brazil Energy Insight 