Rio de Janeiro, March 2, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 559/2016-SAE which requests the following clarifications: Official Letter 559/2016-SAE “Dear Sirs, A news item published in the March 2, 2016 edition of the newspaper Valor Econômico states that Petrobras lost the discussion involving R$7.3 billion in the Higher... Continue Reading →
Pampa offers Petrobras about $1.2 billion for its Argentine unit
Argentina's Pampa Energia SA offered Brazilian state-run oil company Petroleo Brasileiro SA about $1.2 billion to buy its 67.2 percent stake in Petrobras Argentina SA, a source with direct knowledge of the bid said on Wednesday. The board of Petrobras (PETR4.SA), as the Brazilian company is known, has approved exclusive talks with Pampa (PAM.BA) for... Continue Reading →
Petrobras Needs Cash Injection of Up to $26 Billion, Maua Says
Brazil’s state-run oil producer Petrobras needs a capital injection of as much as 100 billion reais ($25.5 billion) to balance its finances, even if it takes three years to complete, saidLuizFernandoFigueiredo, a former central bank director and Chief Executive Officer of Maua Capital. “Everyone knows that Petrobras needs to be capitalized at some moment, and... Continue Reading →
Petrobras – Sale of Onshore Fields
03/02/2016 Rio de Janeiro, March 2nd, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board has approved the initiation of the process of transfer of rights of oil and natural gas exploitation, development and production in certain onshore fields, as well as the sale of the assets related to these concessions. This... Continue Reading →
Petrobras loses Brazil tax case that could cost $1.9 bln -Valor
Mar 2, 2016 Reuters Brazil's state-run oil company Petrobras may be forced to pay 7.3 billion reais ($1.9 billion) in back taxes and fines after a decision by the country's tax authority Carf, newspaper Valor Economico reported on Wednesday. Petrobras has not made provisions for the case related to deductions on its 2007 and 2008... Continue Reading →
Petrobras – Beginning of Early Production System in the Sépia area of the Santos Basin Pre-salt Layer
Rio de Janeiro, March 2, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces the start-up of the Early Production System in Sépia, the former Nordeste de Tupi area, in the pre-salt layer of the Santos Basin. The operation was handled by the floating platform FPSO Cidade de São Vicente, which will produce around 20,000 ... Continue Reading →
Sale of Petrobras Argentina
Rio de Janeiro, March 2, 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to the sale of its equity interest in Petrobras Argentina, disclosed by Material Fact in 01/20/2016, informs that its Executive Board has approved the conduct of negotiations with Pampa Energia, on an exclusive basis, for 30 days and may be extended... Continue Reading →
Petrobras – Termination of the sale contracts in the Concessions of Bijupirá and Salema
02/29/2016 Rio de Janeiro, February 29, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the contracts regarding the sale of its 20% interest in the concessions of Bijupirá and Salema, signed on July 1st, 2015, with PetroRio S.A., have been terminated. Therefore, Petrobras maintains its 20% stake in those fields, in partnership with Shell,... Continue Reading →
Exclusive: Petrobras to cut five-year investment plan by one fifth to $80 billion – sources
Mar 1, 2016 Reuters The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER Brazil's Petrobras will cut its five-year investment plan by about a fifth next month as low oil prices, massive debt and the fallout from a corruption scandal bite into the state-led oil... Continue Reading →
China Petrobras loan cuts need for government bailout -Itau BBA
A credit line of up to $10 billion from China's state development bank to Petrobras cuts the risk that Brazil's state-run oil company would need government assistance to pay for debt and investment in 2016, Banco Itau BBA said on Monday. The loan from China Development Bank, announced on Friday, is enough to pay nearly... Continue Reading →
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