Feb 18, 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-run oil company Petroleo Brasileiro SA or Petrobras said on Thursday that Standard & Poor's downgraded its foreign currency bond rating to "B+" from "BB" after the ratings agency cut Brazil's... Continue Reading →
Brazil state banks may swap Petrobras debt for stock
Feb 16 Brazilian state-run lenders are considering converting part or all of their outstanding loans to Petróleo Brasileiro SA into equity in a bid to help the embattled oil producer, two sources familiar with the plan told Reuters on Tuesday. The swap would offer a government lifeline to Petrobras , the world's most indebted oil... Continue Reading →
Petrobras starts operation of Rota 2, the second largest gas pipeline in the pre-salt
Pre-salt Pipeline Begins Operating Petrobras starts operation of Rota 2, the second largest gas pipeline in the pre-salt. The FPSO Cidade de Maricá, in the Lula field, in the Santos Basin also began production [16.02.2016] By Gustavo Gaudarde/Brasil Energy In Santos, the president of Petrobras Aldemir Bendine said the company will give priority to divestiture... Continue Reading →
Brazil Senate may vote to cut Petrobras subsalt preference on Wednesday
Feb 16, 2016 Reuters BRASILIA Brazil's Senate may soon vote on a bill ending state-led oil company Petrobras' obligation to run all new development and pay at least 30 percent of the costs of all new offshore development in the Subsalt Polygon oil region, Renan Calheiros, the Senate's president, said on Tuesday. The vote, sponsored... Continue Reading →
Petrobras Equity Value Is Zero Due to Debt, BTG Pactual Says
Petrobras’s stock is worthless and a growing group of investors believe Brazil’s state-controlled oil company will convert debt into equity in a move that will benefit bondholders over shareholders, BTG Pactual said in a research report. Brazil’s three state-controlled banks, Banco do Brasil, Caixa Economica and development bank BNDES, hold an estimated 87 billion reais... Continue Reading →
Petrobras – Operational start-up of FPSO Cidade de Maricá, in the Lula field, in the pre-salt layer of the Santos Basin
02/16/2016 Rio de Janeiro, February 16, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that began operating the Cidade de Maricá platform, in the Lula field (Lula Alto area), in the pre-salt layer of the Santos Basin. The Cidade de Maricá platform is a FPSO, a unit that produces, stores and transfers oil. The... Continue Reading →
Iran, Brazil in talks on investment in Brazil refineries -source
Iran and Brazil are in talks about a possible Iranian investment in troubled refinery projects controlled by Brazilian state-led oil company Petroleo Brasileiro SA, a Brazilian government source told Reuters on Thursday. Iran, which is boosting oil output after the end of sanctions over its nuclear program, is interested in exporting oil to Brazil, processing... Continue Reading →
Petrobras Drops to 16-Year Low as Brazil Stocks Join Global Rout
State-controlled oil producer Petroleo Brasileiro SA sank to the lowest level since 1999 as the Ibovespa fell for a third consecutive day, joining a global market selloff. Petrobras, as Petroleo Brasileiro is known, dropped as oil declined to the lowest in 13 years. Miner Vale SA followed iron ore lower, leading losses among raw-materials companies.... Continue Reading →
International Coalition Announces Criminal Lawsuit Against Petrobras et al in Spanish Criminal Court
International Coalition Announces Criminal Lawsuit Against Petrobras et al in Spanish Criminal Court Offers International Investors Easy Access to Participation February 10, 2016 12:01 AM Eastern Standard Time MADRID--(BUSINESS WIRE)--The Asociacion de Afectados de Petrobras, a Madrid-based shareholder association; International Securities Associations & Foundations Management Company for Damaged Petrobras Investors (Bolsa Madrid) Ltd. (“ISAF Petrobras”);... Continue Reading →
International Coalition Announces the Formation of Stichting Petrobras Compensation Foundation
International Coalition Announces the Formation of Stichting Petrobras Compensation Foundation, a Dutch Foundation Representing Investors Damaged by Petrobras et al Offers International Investors Easy Access to Participation February 10, 2016 12:01 AM Eastern Standard Time ROTTERDAM, Netherlands--(BUSINESS WIRE)--Stichting Petrobras Compensation Foundation, a Netherlands-based claim foundation (the “Foundation”); International Securities Associations and Foundations Management Company for... Continue Reading →
Brazil Energy Insight 