Rio de Janeiro, April 25, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 178/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 178/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on April 22, 2016, in the Economia (Economy) section of the newspaper O Globo, entitled: Petrobras: Mitsui não pode vender... Continue Reading →
Clarification on News: Loss of R$1.9 billion in four contracts with Andrade Gutierrez
Rio de Janeiro, April 22, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 175/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 175/2016/CVM/SEP/GEA-1 "Dear Officer, We refer to the news item published on 04.19.2016 in Fausto Macedo's blog under the title: "Federal Police identifies loss of R$1.9 billion to... Continue Reading →
Petrobras – Oil and natural gas production in March
Rio de Janeiro, April 20, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its oil and natural gas production in March amounted to 2.55 million barrels of oil equivalent per day (boed), of which 2.36 million boe were produced in Brazil and 183,000 boed abroad. The average oil production in March was 2.02... Continue Reading →
Petrobras – Clarification on News: Business and Management Plan
Rio de Janeiro, April 19, 2016 - Petróleo Brasileiro S.A.-Petrobras hereby responds to Official Letter No. 165/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 165/2016/CVM/SEP/GEA-1 “Dear Sir, We refer to the news item published today in the newspaper Valor Econômico, Business section, under the title: "Petrobras Plan does not reduce the volume of debt",... Continue Reading →
Petrobras’ output down in March, but maintains 2016 goal
Apr 20, 2016 Petrobras' output down in March, but maintains 2016 goal REUTERS Brazil's Petroleo Brasileiro SA said on Wednesday that output dropped 3.7 percent in March to 2.55 million barrels of oil and equivalent natural gas a day from February. Petrobras, as the state-run company is known, said the drop in output was due... Continue Reading →
Brazil corruption investigators vow to keep digging
Demonstrators hold banners as they take part in a protest against Brazil's President Dilma Rousseff's appointment of Brazil's former President Luiz Inacio Lula da Silva as her chief of staff, at Paulista avenue in Sao Paulo, Brazil, March 17, 2016. The placards show images... REUTERS/NACHO DOCE In a Brazil deeply divided by the battle... Continue Reading →
Sete Brasil Shareholders Approve Plan to File for Bankruptcy
Shareholders of oil-rig venture Sete Brasil Participacoes SA agreed to a plan to file for bankruptcy protection after its single client failed to present a viable book order. A Sete Brasil official confirmed Wednesday that investors are backing the plan and declined to elaborate. Shareholders had set that day as a deadline for Petroleo Brasileiro... Continue Reading →
Brazilian Gas Producer Parnaiba Seeks Acquisitions Amid Downturn
Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is considering acquisitions and preparing to expand output in Latin America’s biggest economy. The Rio de Janeiro-based producer spent 800 million reais ($223 million) last year to expand infrastructure and drill 30 wells in what was Brazil’s biggest drilling campaign on land, Chief Executive Officer... Continue Reading →
Petrobras says unit extraction costs at Subsalt Polygon fall 7 pct
Apr 19, 2016 Reuters The cost of extracting oil from Brazil's so-called Subsalt Polygon in the Atlantic ocean fell about 7 percent last year, state-controlled oil producer Petróleo Brasileiro SA said on Tuesday. In a securities filing, Petrobras said unit extraction costs fell to $8.50 per barrel of oil last year from about $9.10 a... Continue Reading →
Petrobras, Brazil oil sector could get lift from impeachment
Brazil's corruption-battered state oil company Petrobras could be a big beneficiary if the country's opposition parties impeach President Dilma Rousseff, investors and analysts said on Monday. Vice President Michel Temer, who would take power if Rousseff were impeached, is considered open to industry calls for changes to oil rules brought in by her Workers' Party... Continue Reading →
Brazil Energy Insight 