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 →
Odebrecht Oil and Gas wants to avoid disputes with Petrobras
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 →
