A U.S. class-action lawsuit over corruption at Brazil's Petrobras will not overshadow the state oil company's $74 billion, five-year plan to slash its crippling debt and refocus on its core business, chief executive officer Pedro Parente said on Wednesday. In an interview in his offices in Rio de Janeiro, Parente also said Petrobras was pressing... Continue Reading →
Eurasia: New sub-salt rule will favor the sale of Petrobras assets/Valor
Petrobras' goal to sell $ 19 billion in assets between 2017 and 2018 is ambitious, but the changes in the pre-salt exploration rules, ending the obligation to be the operator with minimum 30% participation, should help make the company's assets be more accessible and attractive, evaluates the Eurasia Group. In a report, the consultancy said... Continue Reading →
Petrobras mulls lowering Brazil fuel prices in 2016
State-controlled Brazilian oil company Petroleo Brasileiro SA is considering lowering wholesalegasoline and diesel prices by year-end, which would be the first time since September 2015, O Globo newspaper said on Wednesday. Citing sources close to management, the paper said the company may cut prices of fuels at its refineries to match those of international competitors.... Continue Reading →
Petrobras Streamlines Business to Survive Graft Probe, Oil Bust
The combined shock of low oil prices and Brazil’s biggest corruption scandal is changing state-controlled oil producer Petroleo Brasileiro SA. The company, based in Rio de Janeiro, is abandoning a state-development model pursued during 13 years of control under the Workers’ Party where the government shifted profits to side industries to create jobs and... Continue Reading →
Strategic Plan and Business and Management Plan 2017-2021 Presentation
Rio de Janeiro, September 20, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, at a meeting held yesterday, the new Strategic Plan and the Business and Management Plan 2017-2021. The Strategic Plan and Business and Management Plan were drawn up in an integrated manner and had the direct involvement... Continue Reading →
Petrobras – Strategic Plan and 2017-2021 Business and Management Plan
Click below for complete Strategic Plan and 2017/2021 Business and Management Plan. petrobras-2017-2021-english
Petrobras Slashes Business Plan 25 Percent to $74 Billion
Petroleo Brasileiro SA reduced investments by 25 percent and is accelerating asset disposals in its latest business plan as it downsizes to withstand low international oil prices amid Brazil’s deepest two-year recession on record. The 2017-2021 plan, the first drafted under Chief Executive Officer Pedro Parente, focuses on accelerating debt reduction and retreating from peripheral... Continue Reading →
Petrobras – Webcast Invitation Strategic Plan and 2017-2021 Business and Management Plan
09/19/2016 Petrobras would like to invite investors and analysts for the conference call/webcast of the new Strategic Plan and the 2017-2021 Business and Management Plan, with broadcast in Portuguese and simultaneous translation to English, according to the times below: http://www.investidorpetrobras.com.br/en/press-releases/webcast-invitation-strategic-plan-and-2017-2021-business-and-management-plan September 20, 2016 (Tuesday) 12:30 pm (Brasília) 11:30 am (New York) 4:30 pm (Londres)
Petrobras expected to cut investment, output in 2017-21 plan
Brazil's heavily indebted state-led oil company Petrobras will likely cut planned investment by about a sixth and its 2020 output goal by 14 percent under a five-year strategic plan scheduled for release Tuesday before markets open, according to analysts. Petroleo Brasileiro SA, as the company is formally known, is expected to announce a 2017-2021 capital... Continue Reading →
Brazil oil workers reject Petrobras wage offer; strike is possible
Brazil's largest oil workers union strongly rejected on Friday a proposal from Petrobras for a deal over salaries and benefits in their annual talks, increasing the risk of a new strike at the state-led oil company. Leaders of the Federação Única dos Petroleiros (FUP) union said the terms broke agreements made in November to end... Continue Reading →
