Wed Jul 27, 2016 Reuters (Corrects to say Petrobras will have 60 to 75 percent of total fuel unit stock after sale, not 60 to 65 percent) Brazil's state-controlled oil company Petróleo Brasileiro SA expects to receive binding offers for a controlling stake in its fuel distribution unit, BR Distribuidora, by late November or early... Continue Reading →
Brazil Said to Study Scrapping Nationalist Deep-Water Oil Rules
Michel Temer Photographer: Jin Lee/Bloomberg For international oil companies that saw access to Brazil’s gargantuan offshore reserves curtailed back in 2010, the tide is turning. Brazil’s interim government is studying the benefits of scrapping nationalistic oil legislation that was championed by now suspended President Dilma Rousseff and her leftist Workers’ Party, said three people involved... Continue Reading →
Petrobras to reduce role in Brazil’s natural gas industry
State-controlled oil company Petrobras said on Tuesday it plans to scale back its role in Brazil's natural gas industry by selling or sharing control of pipelines and opening its liquefied natural gas (LNG) terminals to third parties. The move by Petroleo Brasileiro SA, as the company is formally known, is part of a wider move... Continue Reading →
Agreement to Sell Petrobras Chile is Signed
Rio de Janeiro, July 22, 2016 – Petróleo Brasileiro S.A. (Petrobras), following up its material fact announcement of May 3, 2016, announces that it today signed a sale and purchase agreement with the Southern Cross Group for 100% of Petrobras Chile Distribuición Ltda (PCD), held through Petrobras Caribe Ltda. The estimated cash inflow from the... Continue Reading →
COMPERJ Project
Rio de Janeiro, July 22, 2016 – Petróleo Brasileiro S.A. (Petrobras) announces that at a meeting held today, its Board of Directors approved a reassessment of its Rio de Janeiro Petrochemical Complex (COMPERJ) project. This decision will enable the continuation of activities to implement COMPERJ units associated with its natural gas processing unit. The natural... Continue Reading →
Abreu e Lima Refinery (RNEST)
Rio de Janeiro, July 22, 2016 – Petróleo Brasileiro S.A. (Petrobras) announces that at a meeting held today, its Board of Directors approved a reassessment of the Abreu e Lima Refinery (RNEST) project. This decision will enable the continuation of procurement activities to complete the emissions reduction unit (SNOX) and other construction work to complement... Continue Reading →
Brazil’s Petrobras plans to sell voting control of BR fuels unit
Brazil's Petróleo Brasileiro SA said on Friday it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs. Petrobras now plans to keep no more than 49 percent of the voting capital of... Continue Reading →
The National Petroleum Agency (ANP) sets a precedent for exempting fines for breaking local content rules
The National Petroleum Agency (ANP) sets a precedent for exempting fines for breaking local content rules - one of the main pillars of the PT governments in the oil sector. In an unprecedented decision, the agency acknowledged that there are no support vessels in the country that meet the requirements applied since 2008. The measure... Continue Reading →
Petrobras announces early tender results and early settlement for cash tender offers
Rio de Janeiro, Brazil – July 21, 2016 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: (NYSE: PBR) announces that holders of US$3,008,915,000 and €571,972,000 principal amount of the outstanding notes of the series set forth in the table below (all such notes, collectively, the “Old Notes” and each a “series” of Old Notes), issued... Continue Reading →
Biggest Worries For Brazil’s Petrobras: Lawsuits, Whistleblowers And Dilma’s Return
JUL 19, 2016 Kenneth Rapoza/Forbes Opinions expressed by Forbes Contributors are their own. She’s baa-aack. Not yet anyway. Brazilian suspended President Dilma Rousseff surrounded by social justice warriors who have become the most outspoken critics of a conspiracy to unseat her from the presidency. Dilma is the most unpopular president in decades. The Petrobras scandal, in... Continue Reading →
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