Oil producer Petroleo Brasileiro SA led a drop in Brazilian stocks as commodities slumped on fears of slowing global growth and after a comment from the central bank ahead of an interest rate decision raised concerns of government interference in monetary policy. Petrobras tumbled 6.7 percent to 4.35 reais, set for the lowest closing level... Continue Reading →
Petrobras – Sale of assets in Argentina
01/20/2016 Rio de Janeiro, January 20, 2016 – Petróleo Brasileiro S.A. – Petrobras, concerning the news items published in the media regarding the sale of its assets in Argentina, hereby announces that it began negotiations for the sale of its interest in Petrobras Argentina. Nevertheless, until now, there are no deals signed securing the conclusion... Continue Reading →
Brazil Petrobras securities probe may win judgments this year
Brazil's securities regulator CVM is investigating 10 complaints that state-led oil company Petrobras, its auditors, and former company executives misled investors, several of which could result in judgments this year, the CVM president said. The cases, which carry administrative but not criminal penalties, come after shares in Petroleo Brasileiro SA, as Petrobras is formally known,... Continue Reading →
Petrobras – Oil and natural gas production in 2015
01/15/2016 Rio de Janeiro, January 15, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its average Brazilian oil production in 2015 exceeded the annual target established in the Company’s Business and Management Plan for the first time in 13 years. The period average of 2.128 million barrels per day (bpd) was 4.6% higher... Continue Reading →
Petrobras CFO says government bailout would only be “last resort”
Jan 15, 2016 Reuters Brazil's Petroleo Brasileiro SA will only seek new capital from the Brazilian government as a last resort and that no such bailout is under consideration for the heavily indebted state-led oil company, Chief Financial Officer Ivan Monteiro told reporters on Friday. Petrobras, as the company is known, understands the challenge of... Continue Reading →
Petrobras pressing ahead on asset sales to limit cuts: Itau BBA
Brazil's Petroleo Brasileiro SA will press ahead with a $15 billion asset sale program to pay off debt and limit further cuts to its investments as oil prices tumble to 12-year lows, the state-led oil company told analysts on Friday. In a note to investors, Itau-BBA said Petrobras executives also stressed that a 25 percent... Continue Reading →
Brazil’s Rousseff Says She Won’t Rule Out Petrobras Rescue
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 →
