03/21/2016 Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 117/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 117/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on March 15, 2016 in the electronic medium O Antagonista, entitled: Dida autorizou Petrobras a bancar advogado de Cerveró... Continue Reading →
Petrobras Clarification on News: Sale of Control of BR Distribuidora
03/21/2016 Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 118/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 118/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on March 18, 2016 in the electronic medium REUTERS BRASIL, entitled Petrobras considera abrir mão de controle da BR... Continue Reading →
UPDATE 1-Petrobras reinventing itself after oil price drop -CFO
Brazil's state-controlled oil company Petrobras is being forced to turn itself into a smaller operation as crude prices have fallen more than expected, making it impossible to finance its once-ambitious plans, the company's chief financial officer said on Tuesday. CFO Ivan Monteiro made the comment on a conference call with investors a day after Petroleo... Continue Reading →
Petrobras Results Announcements
Presentation of webcast, 22/03/2016 4th Quarter 2015 and Fiscal year 2015 PBR 4th Q 2015 webcast presentation
Petrobras 4th Quarter 2015 Results
Rio de Janeiro – March 21, 2016 - FOURTH QUARTER OF 2015 RESULTS - Audited by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese). • Consolidated net loss was... Continue Reading →
Petrobras – New well in Libra confirms the presence of good quality oil
Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the Libra Consortium has concluded the drilling and the evaluation of the well 3-BRSA-1322-RJS (3-RJS-741), located in the block northwest area, in the Santos Basin pre-salt, confirming the discovery of good quality oil (28º API) in reservoirs with excellent productivity. The... Continue Reading →
Petrobras Huge Writedown Prompts Surprise Loss as Rout Bites
Petroleo Brasileiro SA reported a massive loss after writing down the value of assets because of the collapse in oil prices. The 46.4 billion reais ($12.8 billion) of writedowns in the value of its assets and investments, mainly from its exploration and production division, are worth more than a third of the company’s market value. They... Continue Reading →
Brazil’s Petrobras probes human resources practices, paper says
Brazil's state-run oil producer Petroleo Brasileiro SA is investigating practices in its human resources department that could have left the company vulnerable to billions of reais in liabilities, newspaper Valor Economico said on Monday. Petrobras' head of governance, João Elek, is leading the internal probe after an anonymous report of 11 potentially controversial measures taken... Continue Reading →
Exclusive: Petrobras mulls giving up control of fuel distribution unit
A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/UESLEI MARCELINO Brazil's state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) is considering selling control of fuel distribution unit BR Distribuidora SA after bidders failed to emerge for a minority stake, two sources with direct knowledge of the plans... Continue Reading →
Petrobras Said to Weigh Fields Sale Valued Up to $2 Billion
Petroleo Brasileiro SA is marketing offshore oil and natural gas fields worth as much as $2 billion as part of its plan to sell assets and pay down debt, said two people familiar with the matter. Three fields -- Bauna, Golfinho and Tartaruga -- are for sale, said one person, who asked not to be... Continue Reading →
Brazil Energy Insight 