PETROBRAS’ proposed sale of more than 100 onshore concessions spread across five states may be the spark to ignite a new wave of investments in a sector that has long been overlooked in Brazil. The Topaz Project offers 98 producing fields and six exploration blocks in the mature Reconcavo, Potiguar, Espirito Santo and... Continue Reading →
Petrobras pursues partnership path
Teamwork: Petrobras headquarters in Rio de Janeiro AFP/Scanpix By Gareth Chetwynd from Rio de Janeiro 25 October 2016 09:38 GMT Petrobras chief executive Pedro Parente has emphasised the importance of partnerships to help drive forward the Brazilian giant's E&P programme in a cash-constrained environment. In an exclusive interview with Upstream, the recently appointed Parente stressed... Continue Reading →
Petrobras looks to bring down Libra costs
Cost cutting: Total CEO Patrick Pouyanne (left) and Petrobras CEO Pedro Parente Agencia Ponto By Fabio Palmigiani in Rio de Janeiro 24 October 2016 22:29 GMT Brazilian national oil company Petrobras has put in motion an ambitious plan designed to bring down capital expenditure at the giant Libra pre-salt field in the Santos basin in... Continue Reading →
Petrobras says U.S. investor lawsuits settled outside class action suit
Mon Oct 24, 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 The chief executive of Brazil's state-run oil company Petrobras, Pedro Parente, said on Monday that four settlements reached with investors late last week were not... Continue Reading →
Petrobras settlements show company eager to resolve corruption cases
Petrobras' decision to settle four lawsuits over corruption allegations signals its willingness to negotiate deals in other civil cases but does not remove the threat of massive government penalties from U.S. and Brazilian investigations, legal experts said. The four settlements with large Petrobras shareholders, approved by the oil company's board on Friday, represent only a... Continue Reading →
Petrobras – Approval of the Minority Shareholders Committee to monitor the revision process of the Transfer of Rights Agreement
Rio de Janeiro, October 24, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved the creation of a Minority Shareholders Committee to monitor the revision process of the Transfer of Rights Agreement. The Committee will be composed of two Board members elected by the minority shareholders, Mr Guilherme Affonso Ferreira... Continue Reading →
Petrobras and Total form a Strategic Alliance in Upstream and Downstream
Rio de Janeiro, October 24, 2016 – Petróleo Brasileiro S.A. – Petrobras and Total inform that Pedro Parente, CEO of Petrobras and Patrick Pouyanné, Chairman and CEO of Total are signing today, in Rio de Janeiro, a Memorandum of Understanding which sets the general framework for a Strategic Alliance covering Upstream and Downstream activities in... Continue Reading →
Petrobras signs strategic alliance with Total in the areas of Exploration and Production and Gas and Power
Oct. 24, 2016 Petrobras president, Pedro Parente, and the president of Total, Patrick POUYANNE, signed a memorandum of understanding to consolidate a strategic alliance in the segments of Exploration and Production (E & P) and Gas and Energy (G & E) in Brazil and potential opportunities abroad. From this memo, the companies are committed... Continue Reading →
Petrobras reaches agreement with investors to settle four individual securities actions in the United States
Rio de Janeiro, October 21, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, in a meeting held today, agreements to settle four individual securities actions brought before the US District Court for the Southern District of New York by PIMCO Total Return Fund, et al., Dodge & Cox International... Continue Reading →
Petrobras Raised by Moody’s on New Fuel Policy, Asset Sales
Petroleo Brasileiro SA was rewarded with its first rating upgrade in five years after it stepped up efforts to unload assets and began implementing a new fuel price policy. Petrobras, as the Rio de Janeiro-based oil company is known, had its rating raised one level to B2 by Moody’s Investors Service, which pointed to lower... Continue Reading →
