Rio de Janeiro, May 6, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its total oil and natural gas production in April amounted to 2.69 million barrels of oil equivalent per day (boed), of which 2.50 million boe were produced in Brazil and 190,000 boed abroad. The average oil production in April was 2.12... Continue Reading →
Petrobras Seeks $1 Billion China Loan Faster Than Planned
Brazil’s state-controlled oil company Petrobras is seeking a $1 billion loan from the Export-Import Bank of China before originally planned as its debt service costs surge in the coming years amid the worst oil market in a generation. Petroleo Brasileiro SA, as it is formally known, is negotiating a definitive contract with the Chinese lender after... Continue Reading →
Brazil’s fuel consumption falls as economy shrinks
Brazil’s consumption of gasoline and diesel is falling as the country’s commodity-driven boom falls apart and the economy shrinks. Brazil’s gasoline sales grew at an average annual rate of nearly 7 percent between 2004 and 2014 while diesel use was up by more than 4 percent per year. Like many other commodity exporting economies, the... Continue Reading →
Petrobras -New composition of the Statutory Audit Committee
Rio de Janeiro, May 4th, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby informs that the Board of Directors has approved the composition of the Statutory Audit Committee with the appointment of the Directors Walter Mendes de Oliveira Filho, Jerônimo Antunes and Durval José Soledade Santos. The Board of Directors also approved the appointment of... Continue Reading →
BRIEF-Ensco PLC concludes discussions with Petrobras regarding revised commercial terms on rig contracts
May 5, 2016 Reuters * Ensco Plc - Concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts - SEC Filing * Ensco Plc - Ensco 6002 has had its contract term extended to December 2019 * Ensco Plc - Previous downtime on Ensco 6001 that could have been applied toward... Continue Reading →
Petrobras – Clarification on News: Announcement of Sale of Assets
Rio de Janeiro, May 04, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 193/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 193/2016-CVM/SEP/GEA-1 “Mr. Director, We refer to the news item published today in the blog Radar Online, of Revista Veja, under the title: "Pretrobras waits the release of... Continue Reading →
Sale of Petrobras Argentina
Rio de Janeiro, May 3, 2016 – Petróleo Brasileiro S.A. – Petrobras, in reference to the Material Facts disclosed on 01.20.2016, 03.02.2016 and 04.08.2016, informs that concluded the negotiations with Pampa Energía of the main terms and conditions for the sale of its entire stake in Petrobras Argentina (PESA), owned through Petrobras Participaciones S.L. ("PPSL").... Continue Reading →
Petrobras – Sale of distribution assets in Chile
Rio de Janeiro, May 3, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that concluded the negotiations with Southern Cross Group of the main terms and conditions for the sale of 100% of Petrobras Chile Distribución Ltda. (“PCD”), owned through Petrobras Caribe Ltd. Southern Cross Group is a private equity fund, founded in 1988, with... Continue Reading →
Petrobras to Raise $1.4 Billion Selling Argentina, Chile Assets
Bloomberg Petrobras has agreed to sell assets in Argentina and Chile for about $1.4 billion as Brazil’s state-controlled oil producer looks to raise cash and focus on deep-water projects in Brazil. The Rio de Janeiro-based producer has completed negotiations to sell its 67.2 percent stake in Petrobras Argentina SA to Pampa Energia SA for $892... Continue Reading →
Petrobras Boomtown Turns Desolate as Refinery’s Billions Vanish
Located just 30 miles east of Rio de Janeiro’s bustling Copacabana beach, Itaborai looks like many oil boomtowns after the bust -- except the deserted stores and empty glass towers that loom over this town of 220,000 speak of some bigger cataclysm than the collapse of crude prices. “They said this would be the new oil city,”... Continue Reading →
