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 →
Petrobras – Clarification of News Item: Merger of Comperj
02/03/2016 Rio de Janeiro, February 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 37/2016-CVM/SEP/GEA-1, which requests the following clarifications: OFFICIAL LETTER 37/2016-CVM/SEP/GEA-1 “Dear Officer, 1. We refer to the news item published in the Economia (Economy) section of today’s edition of the newspaper O Globo, entitled Uma saída para o... Continue Reading →
Petrobras – Update related to the Class Action in the United States
02/03/2016 Rio de Janeiro, February 3, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the judge presiding over the securities class action in the United States issued an order yesterday certifying two classes of investors. In the decision, the Court appointed Plaintiffs Employees’ Retirement System of the State of Hawaii and North Carolina Department... Continue Reading →
Brazil’s Petrobras must face U.S. group lawsuits over corruption: judge
A U.S. judge ordered Petrobras, the state-run Brazilian oil company, to face class-action litigation by investors seeking to recoup billions of dollars in losses stemming from a bribery and political kickback scandal. In a decision made public on Tuesday, U.S. District Judge Jed Rakoff in Manhattan certified two classes of plaintiffs, saying their claims... Continue Reading →
Brazilians back Petrobras probe, despite economic cost -poll
An overwhelming majority of Brazilians want an investigation into a sprawling kickback scheme at state-controlled oil producer Petrobras to continue despite concern it is hurting the nation's ailing economy, according to a poll released on Monday. Fully 90 percent of Brazilians say the investigation should continue, whatever the cost, according to the survey by polling... Continue Reading →
