Alpek SAB is studying a pivot toward South America with a record acquisition in Brazil -- and winning applause from investors. Shares have advanced 4 percent since the chemical maker said July 28 that it was exploring a purchase of two Petroleo Brasileiro SA polyester units. That’s almost twice the gain in Mexico’s benchmark IPC... Continue Reading →
Standoff with Petrobras drives Odebrecht Oil and Gas closer to bankruptcy protection
Petrobras asked Odebrecht Oil and Gas (OOG to paralyze work in four out of six drilling rigs that are active, that can lead to equipment supplier to seek bankruptcy protection, according to two sources familiar with the matter. Banks and OOG investors are monitoring the situation with concern. The company had already negotiated with investors... Continue Reading →
Clarification on News: Legal dispute between Petrobras Distribuidora and WTorre
Rio de Janeiro, August 9, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 347/2016-CVM/SEP/GEA-1, which requests the following clarifications: Ref.: Official Letter No. 347/2016-CVM/SEP/GEA-1 “Mr. Director, We refer to the news item published on August 7, 2016, in the newspaper O Estado de São Paulo, editorship Coluna do Estadão,... Continue Reading →
Brazilian Offshore sector will receive more than $ 100 billion in investments by 2025
09/08/2016 The Brazilian offshore sector will receive US $ 116.2 billion in investments between 2016 and 2025, according to GlobalData. The amount represents 13% of the $ 871.7 billion to be invested globally over the next nine years. Of the total invested in Brazil, US $ 90.9 billion will be invested by Petrobras, which... Continue Reading →
Petrobras seeks to annul fuel unit contract in Brazil court
Aug 9 Reuters State-controlled Petróleo Brasileiro SA said on Tuesday that it is seeking to get a contract for the construction of a fuel distribution unit annulled in a Brazilian court, after the plan became subject to increased scrutiny for alleged graft. In a securities filing, Petrobras said it has initiated legal actions against WTorre... Continue Reading →
Clarification on News: “Petrobras may have to give preference to minority in BR.”
Rio de Janeiro, August 8, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 202/2016CVM/SEP/GEA3, which requests the following clarifications: Ref.: Official Letter No.202/2016CVM/SEP/GEA3 “Mr. Director, 1. We refer to the news published today in the newspaper Valor Econômico, Business section, under the title: "Petrobras may have to give preference... Continue Reading →
Brazil antitrust regulator recommends penalizing Petrobras
By Ana Mano/Reuters Aug 8 The superintendent's office of Brazil's antitrust regulator Cade recommended penalizing state-run oil company Petroleo Brasileiro SA for anti-competitive behavior in the natural gas distribution market, according to a statement from Cade on Monday. The case will now be tried before Cade's tribunal at a date yet to be determined. The... Continue Reading →
Petrobras – Approval of amendments in the Bylaws and creation of the Strategy, Organization and Management System Officer
Rio de Janeiro, August 4, 2016 - Petróleo Brasileiro S.A. - Petrobras announces that the Shareholders' Extraordinary General Meeting held today approved the changes in the bylaws, aimed at improving the Company's governance and management. Among the changes is the creation of the new Strategy, Organization and Management System Officer. With this, the Executive Board... Continue Reading →
Petrobras could get $768 million with sale of Liquigás: daily
The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER - RTX1A1LN Brazil's state-run oil company Petroleo Brasileiro SA could get up to 2.5 billion reais ($768.07 million) from the sale of its liquefied natural gas distributor Liquigás Distribuidora SA, a local daily reported on Wednesday.... Continue Reading →
U.S. court puts Brazil’s Petrobras class action on hold
Aug 2, 2016 The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES A U.S. appeals court put a class action case against Brazil's state-run oil company Petroleo Brasileiro SA (PETR4.SA) on hold pending the resolution of an appeal filed by the company, according to a... Continue Reading →
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