A five Japanese companies consortium led by Mitsubishi, prepares to leave the capital of Ecovix, which controls the Rio Grande Shipyard (ERG). The consortium took over 30% stake in the business just over two years for $ 300 million. According to a report by Francisco Garcia, the sale of that stake to the holding Jackson... Continue Reading →
Petrobras CEO’s Challenges Aren’t Going Away/WSJ
Oil giant’s turnaround is stalled amid cheap oil prices and high debt Aldemir Bendine has been the company’s chief for 11 months. Aldemir Bendine has been the company’s chief for 11 months. PHOTO: UESLEI MARCELINO/REUTERS By WILL CONNORS and PAUL KIERNAN Jan. 4, 2016 8:50 p.m. ET RIO DE JANEIRO—In his 11 months at the... Continue Reading →
Brazil November oil, gas output lowest in a year after strike
Brazil's oil and natural gas output was the lowest in a year in November as a strike reduced production from fields run by Brazil's biggest operator, state-run Petroleo Brasileiro SA, oil regulator ANP said in a statement on Monday. Oil companies in the country produced 2.972 million barrels a day of oil and natural gas... Continue Reading →
Petrobras starts the year with a new round of renegotiations with suppliers
01.04.2016 | News release Petrobras starts the year with a new round of renegotiations with suppliers Petrobras said it plans to launch this month a new round of renegotiations of suppliers contracts in an attempt to reduce their operating costs. In 2015, the company managed to reduce by 13% on average, several contracts in the... Continue Reading →
Clarification on News: Decision on the motion to dismiss in the US action
12/30/2015 Rio de Janeiro, December 30, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 3881/2015-SAE, which requests the following clarifications: Official Letter 3881/2015-SAE “A news item published in the newspaper Valor Econômico on December 30, 2015, states, among other matters, that Petrobras obtained a partial court victory in the United States... Continue Reading →
Scandal-hit Petrobras faces new challenge
http://www.ft.com/cms/s/0/9daaa982-a9a0-11e5-843e-626928909745.html#ixzz3vpx8YoiQ December 30, 2015 2:18 pm Scandal-hit Petrobras faces new challenge Joe Leahy in São Paulo/FT Brazil’s largest oil group must grapple with large debts and lawsuits but can count on state backing At a Christmas breakfast with journalists, Aldemir Bendine, the chief executive of Petrobras, said Brazil’s state-controlled oil company was aiming to become “smaller”... Continue Reading →
Petrobras meets asset sales goal for year after Gaspetro divestment
Dec 28, 2015 Reuters Dec 28 Brazil's state-controlled Petróleo Brasileiro SA met a $700 million goal for asset sales this year following the divestment of a minority stake in a gas distribution unit to Mitsui & Co Ltd. In a securities filing, the company known as Petrobras said that Mitsui paid on Monday 1.93 billion... Continue Reading →
Tests in the Carcará area, in the pre-salt layer of the Santos Basin, confirm high productivity
12/22/2015 Rio de Janeiro, December 22, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that it concluded two formation tests in the 3-SPS-105 well, confirming the high productivity of the pre-salt carbonate reservoirs. The 3-SPS-105 well, informally known as Carcará Norte, is located in the area of the Carcará Discovery Evaluation Plan (PAD), 4.6... Continue Reading →
U.S. judge dismisses Petrobras motion, limits some funds’ claims
A U.S. judge has narrowed a class-action lawsuit by investors against Brazil's state-run oil company Petrobras over losses stemming from a bribery and political kickback scandal. But U.S. District Judge Jed Rakoff in New York otherwise denied requests by Petroleo Brasileiro SA, as Petrobras is known, to dismiss parts of the investor case. Under the... Continue Reading →
Fitch reviews Petrobras’ rating
12/17/2015 Rio de Janeiro, December 17, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the risk rating agency Fitch reviewed Petrobras' rating from BBB- to BB+, with negative outlook. This review follows the change in the sovereign rating, as announced on 12/16/2015.
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