Free translation from article at Valor Economico 07/20/2016 The decision of Odebrecht Oil and Gas (OOG) to go to court to participate in a Petrobras tender was timely and should not be replicated in a linear fashion going forward. "It is not the goal be litigating with Petrobras," said a source familiar with the matter.... Continue Reading →
Petrobras inclined to redo fuel unit stake sale
Brazil's state-controlled Petróleo Brasileiro SA is inclined to restart the process of selling part of BR Distribuidora SA, a source with direct knowledge of the matter said, as a recent bidding round put a low price tag on the fuel distribution unit. The source, asking for anonymity as talks are underway, said preliminary board and... Continue Reading →
Odebrecht Oil & Gas obtains injuction to participate in Petrobras tenders
Tuesday, July 19, 2016 RIO DE JANEIRO (Reuters) - Odebrecht Oil and Gas obtained an injunction granted by the Court of Rio de Janeiro that the releases to participate in tenders for the provision of construction and assembly services for interventions in two Petrobras platforms, both in operation in the Campos Basin. The company was... Continue Reading →
Sale of Petrobras Distribuidora
Rio de Janeiro, July 18, 2016 – Petróleo Brasileiro S.A. - Petrobras informs that, regarding the search for a strategic partner for its subsidiary Petrobras Distribuidora (BR), it is evaluating the proposals it has received, and so far Petrobras’ Executive Board and Board of Directors have not taken any decision about an alteration to the... Continue Reading →
Petrobras – Clarification Regarding News Articles: Petrobras’ Lawsuit Against Astra Oil
07/18/2016 Rio de Janeiro, July 18, 2016 – Petróleo Brasileiro S.A. (Petrobras) hereby responds to Official Letter 346/2016-CVM/SEP/GEA-1, requesting clarification, as follows: Official Letter 346/2016-CVM/SEP/GEA-1 “Dear Sir, We are writing in regard to the news stories published in two newspapers – ‘Petrobras quer que sócia nos EUA a indenize por refinery’ [‘Petrobras wants partner in... Continue Reading →
Petrobras to decide on stake sale in fuel unit this month
Petróleo Brasileiro SA will decide the structure of a stake sale in fuel distribution unit BR Distribuidora SA before the end of the month, a sign that Brazil's state-controlled oil producer is trying to speed up $14.4 billion in targeted asset sales to cut debt. In a Monday securities filing, Petrobras (PETR4.SA) said that it... Continue Reading →
Leniency Agreement signed between Brazilian Authorities, Petrobras and SBM Offshore
Rio de Janeiro, July 15, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that today, together with the Ministry of Transparency, Oversight and Control (Ministério da Transparência, Fiscalização e Controle – “MTFC”), the Public Prosecutor’s Office (Ministério Público Federal – “MPF”), the General Counsel for the Republic (Advocacia Geral da União – “AGU”) and SBM... Continue Reading →
SBM Jumps Most in Nine Months Following Brazilian Leniency Deal
SBM Offshore NV, a Dutch oil-services provider, rose the most in nine months in Amsterdam trading after reaching a leniency deal with Brazilian authorities following a corruption investigation. SBM climbed as much as 15 percent Monday, the biggest intraday gain since Sept. 28 and the most among companies on the Stoxx Europe 600 Oil &... Continue Reading →
BRIEF-Brazil’s Petrobras close to concluding sale of Petrobras Argentina
Jul 14, 2016 5:02pm EDT Reuters Chief executive of Brazil's state-run oil company Petroleo Brasileiro SA, Pedro Parente, said on Thursday the company was close to completing the sale of Petrobras Argentina * The sale of its Argentine asset is part of a larger divestiture plan intended to reduce the companies debt load * Parente... Continue Reading →
Petrobras will halt production at 25 platforms for up to a year
Approved by ANP last week, Petrobras will halt production at 25 platforms for up to a year while negotiating the sale of the areas to the private sector. Petrobras also requested the interruption of production in nine other units, but will still need to present studies to justify the request. The units are located in... Continue Reading →
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