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 →
Petrobras bonds end higher on China loan
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 →
