Rio de Janeiro, March 30, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved today the names of the company’s executive officers and executive managers, based on its new structure. The following names were approved as executive officers: Hugo Repsold Júnior: Human Resources, HSE and Services Department (HR&SD) Ivan de... Continue Reading →
Petrobras to save $500 mln a year with reorganization plan
Mar 30, 2016 Reuters State-controlled Petróleo Brasileiro SA, the Brazilian oil producer at the center of a sweeping corruption probe, plans to save 1.8 billion reais ($500 million) a year through a reorganization plan that includes the merger of several business units, job cuts and a streamlining of activities. In a securities filing, the company... Continue Reading →
U.S. probes Brazil’s Odebrecht, Braskem for corruption
The U.S. Department of Justice is investigating possible corruption in contracts among Brazilian petrochemical company Braskem, engineering conglomerate Odebrecht and the country's state-run oil company Petrobras, a newspaper said on Tuesday. Local daily Valor Economico said the Justice Department was focusing its investigation on whether the companies violated the Foreign Corrupt Practices Act in naphtha... Continue Reading →
Brazil’s government seeks re-election of Petrobras chairman
Mar 29, 2016 Reuters UPDATE 1-Brazil's government seeks re-election of Petrobras chairman Brazil's government, the controlling shareholder of Petroleo Brasileiro SA, proposed re-election of economist Luiz Nelson Guedes de Carvalho as board chairman of the state-run oil producer, the company said in a statement on Tuesday. The nomination will be subject to a vote at... Continue Reading →
Brazil’s Petrobras to hold shareholder meeting on April 28
Mar 28, 2016 People leave the headquarters building of Petroleo Brasileiro S.A. (PETROBRAS) in Rio de Janeiro, Brazil, March 21, 2016. REUTERS/SERGIO MORAES Brazil's state-run oil producer Petroleo Brasileiro SA will hold a shareholder meeting on April 28 to vote on proposed changes to the company's board, the company said in a statement on Monday.... Continue Reading →
Petrobras Bondholders See Rare Bright Spot in Brazil’s Currency
Petroleo Brasileiro SA is becoming less of a default risk in the eyes of bondholders, despite the oil producer’s mounting losses in the wake of an unprecedented bribery scandal. That’s because the Brazilian real’s 8.1 percent surge this year against the dollar -- the second-biggest gain in the world -- is bolstering the state-controlled company’s... Continue Reading →
Brazil power regulator to approve generator debt plan
Mar 24, 2016 Reuters Brazil power regulator to approve generator debt plan Brazil's electricity regulator Aneel is expected to approve on Tuesday a plan for power generators to repay debt to state-run oil firm Petrobras and other creditors, two sources with direct knowledge of the deal said on Thursday. The plan calls for generators to... Continue Reading →
Petrobras Clarification of News Item: Time of Results Disclosure on the NYSE
03/23/2016 Rio de Janeiro, March 23, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 121/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 121/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on this date in the Economia (Economy) section of the newspaper O Globo, entitled Petrobras tem novo prejuízo histórico... Continue Reading →
Clarification on News: Investigation by the Federal Accounting Court (TCU) of Petrobras’ headquarters in Vitória
03/22/2016 Rio de Janeiro, March 22, 2016 – Petróleo Brasileiro S.A. – Petrobrás hereby responds to Official Letter 119/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 119/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Radar Online column, under the title: “TCU extends investigation on Petrobras’ headquarters in Vitória”, including the... Continue Reading →
Petrobras Clarification on News: Cash balance in 2016
03/22/2016 Rio de Janeiro, March 22, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 780/2016-SAE, which requests the following clarifications: Official Letter 780/2016-SAE “Dear Officer, In an article published by Agência Estado – Broadcast newspaper, in 03.22.2016, states, among other information, that: 1. Petrobras plans to end the year 2016 with... Continue Reading →
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