Brazil’s Senate approved legislation that relieves Petrobras of its role as sole operator and mandatory stakeholder in so-called pre-salt deepwater oilfields, potentially allowing the state-run company to direct resources to more profitable operations. Legislators on Wednesday night voted 40 to 26 in favor of the bill, which was introduced by opposition Senator Jose Serra and now goes... Continue Reading →
Swiss detain Brazilian citizen in Petrobras probe
Feb 24, 2016 Reuters The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Swiss authorities have arrested a Brazilian citizen linked to a criminal investigation into suspected bribes paid to former directors at Brazil's state-run oil company Petroleo Brasileiro SA, Swiss federal prosecutors said... Continue Reading →
Petrobras Said to Buy Cheniere’s First U.S. Shale Gas Export
Petroleo Brasileiro SA, Brazil’s state-owned energy company, is scheduled to receive the first cargo of shale gas to be shipped from the U.S., according to a person familiar with the deal. The shipment of liquefied natural gas was agreed to on Monday, said the person who asked not to be identified because the information isn’t public.... Continue Reading →
Brazil’s Petrobras to stop onshore drilling rigs in 6 states -Valor
Feb 23, 2016 Reuters Brazil's state-run Petroleo Brasileiro SA plans to shut down onshore drilling rigs in at least six states because of the low price of oil, newspaper Valor Economico reported on Tuesday, citing a source with knowledge of the operations. The paper said Petrobras, as the company is known, would suspend rig operations... Continue Reading →
Timeline: Key moments in Brazil corruption probe
Brazilian police said on Monday they obtained an arrest warrant for the architect of President Dilma Rousseff's electoral campaigns, complicating her fight to survive an investigation into her 2014 re-election and stave off impeachment by Congress. The investigation of campaigner João Santana, known as "the maker of presidents" in Latin America, is part of Brazil's... Continue Reading →
Police say probing Petrobras contracts with Singapore’s Keppel
Feb 22, 2016 Reuters Brazilian police said on Monday they were looking into possible bribes paid in contracts signed by state-run oil company Petrobras and shipbuilder Sete Brasil with Singapore's Keppel Fels. Federal police carried out a fresh wave of searches and arrests on Monday in the ongoing "Operations Car Wash" corruption investigation that started... Continue Reading →
UPDATE 1-Sete Brasil plans bankruptcy in week if no Petrobras lease proposal
Sete Brasil Participações SA plans to file for bankruptcy protection if state-controlled oil producer Petróleo Brasileiro SA, the rig builder's sole client, fails to present a final lease contract proposal in a week's time, three sources with direct knowledge of the matter said on Friday. Both Sete Brasil and Petrobras declined to comment. Petrobras, as... Continue Reading →
Petrobras – Clarification on News: Testimony before the Internal Investigation Commission
02/18/2016 Rio de Janeiro, February 18, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 49/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 49/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published in the Empresas (Companies) section of today’s edition of the newspaper Valor Econômico, entitled Venina vai depor nos EUA... Continue Reading →
Petrobras Debt-to-Equity Swap Talk Puts Shareholders on Notice
At its peak in 2008, Petrobras was the world’s fifth-largest company worth $310 billion. Since then it has lost more than 90 percent of its value, and recent speculation about a debt-to-equity swap raises the spectre of more woes ahead for shareholders. The market cap of Brazil’s oil giant stands at just $19 billion... Continue Reading →
Petrobras – New well in Libra confirms oil discovery extension in the block
02/17/2016 Rio de Janeiro, February 17, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that has concluded the drilling of the well 3-BRSA-1305A-RJS (3-RJS-739A), located in the Libra block northwest area, in the pre-salt of the Santos Basin, confirming the discovery of good quality oil in reservoirs with excellent productivity. The well found an oil... Continue Reading →
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