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 →
Standard & Poor’s downgrades Petrobras after Brazil sovereign cut
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 →
