One of the highest-ranking former executives at Petrobras has told investigators that Alstom SA and General Electric Co. paid bribes to win contracts more than a decade ago, underscoring how Brazil’s biggest corruption scandal continues to expand. Nestor Cervero, who headed the Brazilian state-controlled oil producer’s international division, told investigators that he received $700,000 in bribes... Continue Reading →
Petrobras – Sale of LNG Terminals and Thermoelectric Power Plants
Rio de Janeiro, June 7, 2016 - Petróleo Brasileiro S.A. – Petrobras announces that it began a bidding process to sell its liquefied natural gas (LNG) terminals in Rio de Janeiro and Ceará, along with the thermoelectric power plants associated with these terminals. The daily regasification capacity is of 20 million cubic meters at the... Continue Reading →
Petrobras Stock Rally Offsets Political Tension
The Ibovespa rose for the fourth time in five days as state-controlled Petroleo Brasileiro SA followed oil higher, offsetting increased political tension. Petrobras, as the Brazilian oil producer is known, contributed the most to the benchmark equity index’s advance as Brent crude advanced to an eight-month high. The rally overshadowed concern it may be difficult... Continue Reading →
Clarification of News Item: No Conflict of Interest between the Presidency of Petrobras and the Chair of the Board of Directors of the BM&FBOVESPA
Rio de Janeiro, June 6, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 237/2016-CVM/SEP/GEA-1.which requests the following clarifications: Official Letter 237/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the Notice to the Market disclosed by BM&FBOVESPA S.A. – Securities, Commodities and Futures Exchange on May 20, 2016, which contains the following affirmations: BM&FBOVESPA... Continue Reading →
Petrobras CEO Parente returns to fix company again
New chief executive of Brazil's state-run oil company Petroleo Brasileiro SA, Pedro Parente, gestures during his inauguration ceremony in Rio de Janeiro, Brazil, June 2, 2016. REUTERS/SERGIO MORAES The man who oversaw the transformation of Petrobras from a lumbering state oil monopoly into a thriving public-private partnership more than a decade ago is back in... Continue Reading →
Brazil oil group expects bill ending subsalt exclusivity soon
June 2, 2016 9:58am EDT Reuters Brazil's lower house of Congress could pass a bill in July ending the exclusive right of state-run oil company Petrobras to operate new projects in the deep-sea offshore area known as the subsalt, the head of Brazil's oil industry association IBP said on Thursday. Jorge Camargo, speaking at a... Continue Reading →
Early Tender Results and Early Settlement for Waterfall Tender Offers and Extension of the Early Tender Date and Increase of Consideration for Any and All Offer
Rio de Janeiro, June 1, 2016 - Petróleo Brasileiro S.A. - Petrobras hereby announces results and amendments with respect to the previously announced tender offers by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). Waterfall Tender Offers Petrobras hereby announces that holders of US$7,523,494,000 and €1,920,133,000 principal amount of the outstanding notes of the series... Continue Reading →
Petrobras CEO Says No More Political Interference in Oil Company
Petroleo Brasileiro SA’s new Chief Executive Officer Pedro Parente said political interference has ended in the state-run oil producer and that fuel price decisions will now be made according to the company’s best interests. A solution to Petrobras’s debt, the largest in the industry, includes selling part of its assets, he told reporters after his... Continue Reading →
Brazil Solicitor General Asks Court for Fines, Restitution in Corruption Scandal
Solicitor General Fábio Medina Osório is seeking more than $6 billion in penalties and repayments in cases connected to Petróleo Brasileiro A sign at a Petrobras BR gas station in Rio de Janeiro, Brazil. PHOTO: BLOOMBERG NEWS By ROGERIO JELMAYER/WSJ May 31, 2016 12:05 p.m. ET SÃO PAULO—Brazil’s top legal official has asked a court... Continue Reading →
Brazil’s Corruption Probe Likely to Expand to Other Petrobras Suppliers
So-called Car Wash investigation could extend to next year, a source said/WSJ Brazil’s corruption investigation could include more of state oil company Petróleo Brasileiro SA’s suppliers, according to a person involved in the probe. PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES By LUCIANA MAGALHAES/WSJ May 31, 2016 3:54 p.m. SÃO PAULO—Brazilian authorities are expanding their sweeping investigation into... Continue Reading →
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