Brazil's state-led oil company Petroleo Brasileiro SA offered striking workers a 9.54 percent wage hike on Wednesday in an effort to end a 10-day strike and prevent it from causing further production losses. But union officials said the deal makes almost no concessions on their most important demands. These include calls on Petrobras, as the... Continue Reading →
Petrobras – Clarification on News: Loss at Premium Refineries
11/11/2015 Rio de Janeiro, November 11, 2015 – Petróleo Brasileiro S.A. – Petrobrás hereby responds to Official Letter 457/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter no. 457/2015/CVM/SEP/GEA-1 “We refer to the news published today in the Empresas (Companies) section of Valor Econômico newspaper, entitled Refinarias 'premium' tinham 98% de chance de dar prejuízo, diz... Continue Reading →
Petrobras – Clarification of News Item: Overpaying in hiring drilling rig
11/11/2015 Rio de Janeiro, November 11, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 458/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 458/2015/CVM/SEP/GEA-1 “We refer to the news item published on November 8, 2015 in Miriam Leitão’s column in the newspaper O Globo, entitled Retrato da Corrupção (Portrait of Corruption), which... Continue Reading →
Union members on strike report leakage at P 37 oil rig in Campos Basin
Union members of Sindipetro, on strike, report leakage on P 37 oil rig in the Campos Basin. The rig is being operated by a Petrobras contingency crew. No confirmation from Petrobras as of this writing. Keep you posted.
Petrobras – Update on Oil Workers’ Strike – 11/09
Update on Oil Workers’ Strike - 11/09 11/09/2015 Rio de Janeiro, November 9, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the strike coordinated by the oil workers’ unions still continues and the impact in the oil output in Brazil remains around 115,000 barrels a day. Petrobras is making all efforts to pursue the... Continue Reading →
Brazil hedge fund Verde adds Petrobras bonds, warns debt too high
Verde Asset Management, Brazil's largest hedge fund, stepped up purchases of state-controlled oil producer Petróleo Brasileiro SA bonds in October to take advantage of high yields, but warned that the company is not acting with sufficient urgency to cut debt. In a monthly letter to investors on Monday, money managers led by Luis Stuhlberger said... Continue Reading →
Petrobras Strike Shows Unions Can’t Let Go of Boom-Year Dreams
Petroleo Brasileiro SA, the Brazilian state-run oil company grappling with plunging crude prices, a sweeping corruption scandal and the global oil industry’s heaviest debt load, has a new problem on its hands: Unions. The company’s workers started a strike this week that has already cut daily output and shut 30 offshore platforms. Unlike in previous... Continue Reading →
Brazil oil union says Petrobras pushing back against strike
Nov 7 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA is increasing efforts to weaken the impact of a five-day strike, taking back control of at least two offshore oil units from striking workers, the main union behind the walk-out said on Friday. In the Campos Basin northeast of Rio de Janeiro, workers were... Continue Reading →
Brazil’s Petrobras says Braskem naphtha extension worth $252 mln
Nov 7 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA said on Friday two amendments to its contract to supply naphtha to Braskem SA, Latin America's largest petrochemical company are worth 950 million reais ($252 million). The contract amendments extend the terms of an agreement for Petrobras, as the oil company is known, to... Continue Reading →
Petrobras – Clarification of News Item: Restructuring of Sete Brasil
11/06/2015 Rio de Janeiro, November 6, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 445/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 445/2015/CVM/SEP/GEA-1 “We refer to the news item published today, November 4, 2015, in Lauro Jardim’s Blog, entitled A novela da Sete (The Sete soap opera), which contains the following... Continue Reading →
Brazil Energy Insight 