Brazil's Rousseff Says She Won't Rule Out Petrobras Rescue Sabrina Valle Arnaldo Galvao Anna Edgerton January 15, 2016 — Brazilian President Dilma Rousseff said her administration would be willing to evaluate government assistance to support state oil company Petroleo Brasileiro SA if conditions in the energy market continue to deteriorate. "We won’t rule out that... Continue Reading →
Brazil’s Petrobras cancels plan to sell local-market bonds
Jan 15, 2016 Reuters Brazil's state-led oil company Petroleo Brasileiro SA said on Friday it had canceled plans to sell as much as 3 billion reais ($744 million) of local-market bonds after being unable to sell the debt at rates acceptable to both the company and investors. Petrobras, as the company is commonly known, had... Continue Reading →
Petrobras – Clarification on News: Sale of Braskem
01/14/2016 Rio de Janeiro, January 14, 2016 - Petróleo Brasileiro S.A.- Petrobras hereby responds to Official Letter 91/2016-SAE, which requests the following clarifications: OFFICIAL LETTER No. 91/2016-SAE "Dear Sirs, A news article published at painel.blogfolha.uol.com.br, on January 13, 2016, states, among other information, that Petrobras is expected to announce, in the coming days, the sale... Continue Reading →
Brazil seeks deals with 10 companies in Petrobras scandal
The Brazilian comptroller general's office is negotiating leniency deals with 10 companies implicated in the Petrobras corruption scandal and expects them to be concluded within the next six months, its acting director said on Thursday. Carlos Higino, who took over last month, said agreements expected last year had been delayed by developments, including new criminal... Continue Reading →
Brazil’s Petrobras says asset sale plan depends on many factors
Jan 14, 2016 Reuters Petróleo Brasileiro SA, the Brazilian state-controlled firm at the center of a massive corruption investigation, said asset divestments hinged on a number of undetermined "global and external factors", as regulators questioned it over the sale of a stake in petrochemical giant Braskem SA. In a securities filing on Thursday, Petrobras, as... Continue Reading →
Ex Petrobras executive convicted in Rio of fraud, sentenced to jail
Jan 13, 2016 Reuters Jorge Zelada (C), former director of Petrobras' international division, is escorted by federal police officers as he arrives to the Institute of Forensic Science in Curitiba, Brazil, July 2, 2015. REUTERS/GABRIEL JOSE A judge in Rio de Janeiro convicted a former executive of Brazil's state-run oil firm Petrobras of fraud on... Continue Reading →
Petrobras cuts spending plan again as oil-price drop bites
Petróleo Brasileiro SA (PETR4.SA), Brazil's state-controlled oil producer, on Tuesday slashed its investment plan for the third time in just over six months as it tries to preserve cash to pay its debt, the industry's largest. With oil prices at more than 10-year lows and the company's $15.1 billion asset sale stalled, Petrobras cut its... Continue Reading →
Petrobras cleared to raise refinery output without controls
Brazil's Petrobras received a license on Monday allowing it to boost crude processing by 35 percent at its controversial RNEST refinery, the local government said, a move that lets the company delay installation of promised pollution controls. Under the license, Petroleo Brasileiro SA, as government-controlled Petrobras is formally known, can process up to 100,000 barrels... Continue Reading →
Petrobras Reduces Output Estimates on Deeper Spending Cuts
Brazil’s state-controlled oil producer Petrobras further cut spending and reduced estimates for its production growth amid the worst oil market in a generation and a massive corruption scandal. The stock tumbled. Petroleo Brasileiro SA, as the company is formally known, slashed its business plan in the five years through 2019 to $98.4 billion, the latest... Continue Reading →
Petrobras – Adjustments to the 2015-2019 Business and Management Plan
01/12/2016 Rio de Janeiro, January 12, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors has approved certain adjustments to the 2015-2019 Business and Management Plan (2015-2019 BMP). These adjustments are designed to preserve the fundamental objectives of deleveraging and the generation of value for shareholders established by the 2015-2019... Continue Reading →
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