12/01/2015 Rio de Janeiro, December 1, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to CVM Official Letter 500/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: CVM Official Letter 508/2015/CVM/SEP/GEA-1 “We refer to the news item published on November 29, 2015 in the Poder (Power) section of the newspaper Folha de São Paulo, entitled Petrobras deu... Continue Reading →
Petrobras – Clarification of News Item: Irregularities in the contracting of the Vitória 10000 drill ship
11/30/2015 Rio de Janeiro, November 30, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to CVM Official Letter 500/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: CVM Official Letter 500/2015/CVM/SEP/GEA-1 “We refer to the news item published today in the Nacional (National) section of the newspaper O Estado de São Paulo, entitled Auditoria embasa prisão de... Continue Reading →
Petrobras, Odebrecht Venture Avoids Parents’ Pain as Stock Soars
Braskem SA, Latin America’s biggest petrochemical maker, is an unlikely contender to be the world’s top-performing emerging-market stock. Not only is it based in Brazil, which is suffering through its longest recession since the 1930s, but its two controlling shareholders -- Petroleo Brasileiro SA and Odebrecht SA -- are mired in scandal. Odebrecht’s former chief executive... Continue Reading →
Petrobras Dream Team Splits on Approach to Turnaround
This was the year Petroleo Brasileiro SA investors got what they had sought for decades: a chief executive with a mission to streamline and an independent chairman. Now one of them is gone. Clashes over everything from Formula 1 sponsorship to the spinoff of a fuel unit created a rift between CEO Aldemir Bendine, 51,... Continue Reading →
Vale CEO Resigns From Petrobras as Miner Navigates Rout
Murilo Ferreira, who heads miner Vale SA, stepped down as chairman of Brazil’s state oil producer Petroleo Brasileiro SA as the world’s biggest iron-ore producer navigates the worst commodity rout in seven years. His resignation from the Petrobras board, which comes after a seven-week leave of absence, was announced in a Petrobras filing Monday that didn’t give... Continue Reading →
Petrobras rules out raising fresh capital for now -source
Indebted state-run oil company Petroleo Brasileiro SA has ruled out bolstering its capital in the short term, a source with direct knowledge of the company's decision said on Monday. In a statement released later on Monday, Petrobras, as the company is known, denied media reports of talks for the Treasury to transfer hybrid securities to... Continue Reading →
GMO Says Petrobras Century Bonds Best Bet on Brazilian Producer
Grantham Mayo Van Otterloo & Co. says Petroleo Brasileiro SA is too strategic for the state to let it default and the earlier selloff in the Brazilian oil producer’s longest-dated bonds made them attractive. Petrobras has been battered by plunging crude prices, a corruption scandal enveloping its executives, a strike that curbed production and disappointing... Continue Reading →
Petrobras lost 2.29 mln barrels of oil to strike – filing
Mon Nov 23, 2015 /Reuters Nov 23 Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it had been unable to produce 2.29 million barrels of oil and 48.4 million cubic meters of natural gas during a strike that began on Nov. 1. Petrobras, as the firm is known, said the majority of unions... Continue Reading →
Brazil’s Levy sees no immediate need for Petrobras capital injection
There is no immediate need for a capital injection at Brazilian state-run oil firm Petrobras, Finance Minister Joaquim Levy said on Friday, downplaying media reports about a possible government plan to bolster the capital of the heavily indebted company. "They have enough cash to run," Levy told reporters on the sidelines of an infrastructure conference... Continue Reading →
LATAM WRAP-Petrobras extends rally on capital plan
Petrobras was leading LatAm credit markets higher on Friday following news that the Brazilian government was considering a plan to inject fresh capital into the beleaguered oil company. The issuer's 2024s were extending Thursday's late-day rally to trade at 83.50-84.00 on Friday, marking a five-point leap for the week. The company's Century bond was up... Continue Reading →
