Bonds issued by Brazil's Petrobras ended the day one to two points higher on Monday as the beleaguered oil company eased refinancing pressure by clinching a US$10bn loan from China. The up to US$10bn loan from China Development Bank, which can be repaid in cash or oil, will do much to reduce refinancing risks for... Continue Reading →
Petrobras – Oil and natural gas production in January
Rio de Janeiro, February 29, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its average oil and natural gas production amounted to 2.47 million barrels of oil equivalent per day (boed) in Brazil and 183,000 boed abroad, totaling 2.65 million barrels boed. Oil production averaged 2 million barrels per day (bpd) in Brazil and... Continue Reading →
Petrobras Gets $10 Billion Chinese Loan in Oil Supply Deal
Petroleo Brasileiro SAsecured a $10 billion loan from the China Development Bank as the beleaguered state-owned oil producer endures the worst crude market in a generation and faces more than double that amount in maturities over the next two years. The lifeline is part of a deal to supply crude to the Asian country, Rio... Continue Reading →
Petrobras – Installation of the Statutory Audit Committee
Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby informs that the Board of Directors has approved, at a meeting held today, the review of the Internal Regulations of the Audit Committee, turning it into statutory, pursuant to CVM Instruction 308/99, as amended by CVM Instruction 509/11. Petrobras has an Audit... Continue Reading →
Extension of the Term of Office of the Chairman of the Board of Directors
Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors, in a meeting held today, approved the extension of the term of office of board member Luiz Nelson Guedes de Carvalho as Chairman of the Board of Directors until the next Annual Shareholders’ Meeting. As previously... Continue Reading →
Petrobras – Clarification of News Item:Testimony before the Internal Investigation Commission – Complement
Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – hereby responds to Official Letter 62/2016-CVM/SEP/GEA-1 which requests the following clarifications: Official Letter 62/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the clarifications provided in the Notice to the Market of February 18, 2016 disclosed in response to the requests in Official Letter 049/2016/CVM/SEP/GEA-1, related to... Continue Reading →
Petrobras – Term Sheet signed with CDB
Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro SA – Petrobras informs that it has today signed a Term Sheet with the China Development Bank (CDB), for financing of US$10 billion. The document contains the main terms and conditions of the operation and was signed by the President of Petrobras, Aldemir Bendine, and the... Continue Reading →
Bill to Open Brazil’s Offshore Oil Fields to Foreigners Still Faces Fierce Opposition
Despite Senate vote, opponents consider measure an affront to nation’s control of natural resource By WILL CONNORS and PAULO TREVISANI/WSJ Feb. 25, 2016 RIO DE JANEIRO—Legislation to open coveted offshore oil fields in Brazil to foreign players took a major step forward this week, but still faces fierce resistance from opponents who consider the measure... Continue Reading →
Petrobras – Sale of assets
02/26/2016 Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras, concerning the news items published in the media regarding the sale of its assets of Nova Transportadora do Sudeste (NTS), hereby announces that it began negotiations for the sale of this company. Nevertheless, until now, there are no deals signed securing the... Continue Reading →
Petrobras may get $6 billion in sale of gas pipeline system
Feb 25, 2016 Reuters The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Brazil's state-led oil company Petrobras is expected to fetch as much as $6 billion from the sale of a natural gas pipeline unit in Brazil's industrialized Southeast, the Valor Economico daily newspaper... Continue Reading →
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