Rio de Janeiro, September 8, 2016 – Petróleo Brasileiro S.A. – Petrobras, concerning the news on the sale of Nova Transportadora do Sudeste (NTS), and giving continuity to the material facts disclosed on May 12 and July 12, 2016, informs that it has concluded the negotiations with the consortium led by Brookfield for the sale... Continue Reading →
Brazil refinery mishaps hobble 10 percent of Brazil fuel output
Serial failures at a Petrobras refinery have hobbled about a tenth of Brazil's crude-processing capacity, company and union officials said on Monday, raising safety and efficiency concerns at the financially troubled state-led oil company. An Aug. 31 power outage and fire, followed by a sulfur tank collapse on Monday, forced a complete shutdown and then... Continue Reading →
Brookfield-led group to buy $5.2 billion Petrobras pipeline unit: source
An aerial view of Petrobras' Presidente Bernardes Refinery unit in Cubatao April 2, 2015. BRAZIL/Paulo Whitaker By Tatiana Bautzer | SAO PAULO Brazil's state-run oil company Petroleo Brasileiro SA (PETR4.SA) (PBR.N) agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc (BAMa.TO)... Continue Reading →
Petrobras – Clarification on the News Regarding the Sale of Liquigás
Rio de Janeiro, September 5, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter 2985/2016-SAE/GAE 2, which requests the following clarifications: Official Letter No. 2985/2016-SAE/GAE 2 “Dear Sirs, A news article published by the newspaper O Estado de São Paulo on September 2, 2016 states, among other information, that: 1. Petrobras... Continue Reading →
BRIEF-Brazil’s Petrobras says Dodge & Cox sells shares
Mon Sep 5, 2016 State-led oil company Petroleo Brasileiro SA : * Petrobras, as the company is known, said in a filing on Monday that investment fund Dodge & Cox reduced to less than 5 pct its control of equivalent preferred shares in the company * With the sale of Petrobras American Depository Receipts (ADRs)... Continue Reading →
Fitch Downgrades Rio Oil Finance Trust Notes to ‘B’; Outlook Remains Negative
September 02, 2016 CHICAGO & SAO PAULO--(BUSINESS WIRE)--Fitch Ratings has downgraded the series 2014 notes issued by Rio Oil Finance Trust as follows: --USD2 billion series 2014-1 notes to 'B' from 'BB-'; --BRL 2.4 billion series 2014-2 special indebtedness to 'BB+ sf (bra)' from 'Asf (bra)'; --USD1.1 billion series 2014-3 notes to 'B' from... Continue Reading →
Brazil’s Petrobras says 11,704 staffers joined layoff program
Fri Sep 2, 2016 / Reuters Brazil's state-run oil producer Petroleo Brasileiro SA on Friday said 11,704 staffers joined its 2016 voluntary layoff program, with an estimated cost of about 4 billion reais ($1.23 billion). Petrobras, as the company is known, said the final number may change as the applications are still being calculated. The... Continue Reading →
Brazil prosecutors reject SBM leniency deal for Petrobras graft
Federal prosecutors in Brazil rejected a $328.2 million (247.34 million pounds) deal on Thursday allowing Dutch oil-ship lesser SBM Offshore NV (SBMO.AS) to avoid prosecution for corruption related to its contracts with state-led oil company Petrobras. The decision was made by a federal prosecutor review board, which said numerous problems needed to be addressed before... Continue Reading →
Brazil expects new Petrobras oil-rights deal by year-end
Brazil expects to renegotiate by year-end the price of 5 billion barrels of oil and gas rights purchased by Petrobras in a 2010 stock-for-oil swap, an energy ministry official said on Wednesday, removing a complication in the state-led company's plans to finance and develop major new offshore discoveries. Petrobras bought the rights from Brazil's federal... Continue Reading →
Brazil, Petrobras to revise subsalt oil contract terms this year
Aug 31 The Brazilian government and state-controlled oil company Petróleo Brasileiro SA could finalize a thorough revision of contractual terms for the exploration of a vast offshore oil region before year-end, a senior official said on Wednesday. The revision of a clause granting Petrobras the right to operate a minimum 30 percent of exploration and... Continue Reading →
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