Rio de Janeiro, July 1, 2016 – Petróleo Brasileiro S.A. – Petrobras, with regard to the news items published about the new Chief Strategy, Organization and Management System Officer, announces that Mr. Nelson Luiz Costa Silva is currently the name appointed to occupy said position. The Company highlights, however, that the creation of the new... Continue Reading →
Petrobras’ Indian partners fight delay in troubled Brazil oil project
Petrobras has warned its Indian partners in a huge offshore project to not expect oil from the site until 2022, according to sources, a fresh sign of how low oil prices and the state-owned company's corruption scandal and mountain of debt are dragging on Brazil's energy industry. The previously unreported, four-year delay in the "super-giant"... Continue Reading →
Brazil’s Petrobras to name Silva to new top strategy post
Jun 30, 2016 Reuters Brazil's state-led oil company Petroleo Brasileiro SA plans to appoint Nelson Silva, the former head of BG Plc in Brazil, as chief of strategy and management, a newly created position on its senior management committee, company sources told Reuters. Silva came to Petrobras ealier this month as an advisor to new... Continue Reading →
New Composition of Petrobras’ Board of Directors’ Statutory Committees
Rio de Janeiro, June 29, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors approved today the new composition of the following Board of Directors' Statutory Committees: • Strategic, with the appointment of Board members Segen Farid Estefen (President) and Guilherme Affonso Ferreira and, as external member, Reinaldo Guerreiro; •... Continue Reading →
Petrobras – Record of RNEST’s processing in May
Rio de Janeiro, June 29, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that the Refinaria Abreu e Lima (RNEST) reached a new record of monthly processing, with an average load of 94,800 barrels of oil per day (bpd) processed in May, exceeding the previous record of 91,000 bpd, in March 2016, by 3,800 bpd.... Continue Reading →
Brazil’s Petrobras creates new senior strategy, management position
Workers repair a tank of Brazil's state-run Petrobras oil company in Cubatao, Brazil, April 12, 2016. REUTERS/PAULO WHITAKER Brazil's Petrobras said late Wednesday that its board of directors had created a new senior management post responsible for strategy, organization and system management to bolster long-term planning efforts and control debt and investment. The new position... Continue Reading →
Brazil’s Petrobras says Abreu e Lima processed record oil in May
Reuters Brazil's state-controlled oil company Petroleo Brasileiro SA (Petrobras) said on Wednesday its Abreu e Lima refinery processed a monthly record 94,800 barrels per day of oil in May. The refinery in Pernambuco, known for outlandish cost overruns during construction, produced 330,200 cubic meters of S-10 diesel last month, worth 28.2 percent of Petrobras' output... Continue Reading →
Petros Supplementary Pension Plan
Rio de Janeiro, June 23, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that the Deliberative Board of Petros approved, at a meeting held today, the Actuarial Statement of the Petros Plan of the Petrobras System (PPSP), related to 2015, having been confirmed the disclosure of a deficit of the Plan above the tolerance limit... Continue Reading →
Petrobras announces Extension of the Expiration Date, Increase of Consideration and Payment of Soliciting Dealer Fee for Offer to Purchase and Consent Solicitation
Rio de Janeiro, Brazil – June 24, 2016 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) hereby announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) is amending the terms of its previously announced offer to purchase for cash any and all of PGF’s 8.375% Global Notes due 2018 (the “2018 Notes”), and... Continue Reading →
Brazil’s Petrobras says its pension fund has $6.8 bln shortfall
Brazil's state-led oil company Petrobras said on Thursday its pension fund has 22.6 billion reais ($6.8 billion) in unfunded liabilities, a new financial burden for what is already one of world's most indebted firms. The shortfall at the country's second-largest pension fund is the latest setback to Petrobras' efforts to preserve cash needed to pay... Continue Reading →
