Members of Sindipetro NF have decided to end the 20 day strike at Petrobras. The union members of the Campos Basin represent 65% of Petrobras production. 8 platforms in the Campos Basin will restart operations. Members of Sindipetro Espirito Santo and members of the FNP union are still holding out.
Brazil Said to Study Hybrid Securities for Petrobras
Brazil is studying the possibility of using hybrid securities to boost capital at struggling state-controlled oil producer Petroleo Brasileiro SA, Agencia Estado reported, citing government officials it didn’t name. The operation is being discussed between Brazil’s treasury and Petrobras’s management, and no amount has been defined yet, Estado said. The government and Rio de Janeiro-based... Continue Reading →
Brazil prosecutors focus on foreign firms after legal setback
Brazilian prosecutors are increasingly turning their attention to bribery by foreign companies in the country's biggest-ever corruption case, a lead prosecutor said in an interview, adding that only one such company had signed a leniency deal so far. Deltan Dallagnol, 35, a relentless anti-corruption advocate, said companies that bribed employees of state-run oil company Petrobras... Continue Reading →
Petrobras holdout strikers to vote on new deal Thursday
A union representing workers in the Brazil's top oil region will vote on Thursday on a contract offer from state-run oil company Petrobras on Thursday or continue a strike, the most disruptive in 20 years, the union said Wednesday. The union, Sindipetro Norte Fluminense, called the vote after Petroleo Brasileiro SA, as Petrobras is known,... Continue Reading →
Petrobras’s Dangerous Debt Math: $24 Billion Owed in 24 Months
The debt clock is ticking down at Brazil’s troubled oil giant, Petrobras. Next up: $24 billion of repayments over 24 months. That’s a towering hurdle for a company that hasn’t generated free cash flow for eight years and whose borrowing rates are soaring. Annual debt servicing costs have doubled to 20.3 billion reais ($5.4 billion)... Continue Reading →
Petrobras – Clarification about News item: Sale of Petrobras Biofuels
11/17/2015 Rio de Janeiro, November 17, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 474/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 474/2015/CVM/SEP/GEA-1 “We refer to the news item published on November 15, 2015 on the Mercado (market) section of the Folha de São Paulo newspaper, entitled: “Petrobras is considering selling... Continue Reading →
Petrobras – New well confirms oil discovery in Pitu area, in deep waters of the Potiguar Basin
11/17/2015 Rio de Janeiro, November 17, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the drilling of an extension well proved the occurrence of oil in the Pitu area. The discovery of this accumulation, the first in Potiguar Basin deep waters, was first announced to the market on December 17, 2013. The 3-BRSA-1317-RNS well,... Continue Reading →
Petrobras -Oil and natural gas production in October
11/17/2015 Rio de Janeiro, November 17, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average oil and natural gas production in October in Brazil and abroad reached 2.76 million barrels of oil equivalent per day (boed), 1.6% higher than the 2.72 million boed recorded in September. Considering the volumes produced in Brazil only,... Continue Reading →
Petrobras -Oil Workers’ Strike Update – 11/17
11/17/2015 Rio de Janeiro, November 17, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that the unions are analyzing the proposal presented by the Company. Until now, 10 of the 17 unions communicated their approval of Petrobras’ proposal and the end of the strike in their respective bases. Nevertheless, there are still ongoing manifestations in... Continue Reading →
Brazil oilworkers local tells members to quit Petrobras platforms
The Brazilian oilworkers union local responsible for the bulk of the country's oil and gas output told its members on Tuesday to leave all Petroleo Brasileiro SA vessels in the Campos Basin, Brazil's most productive oil district. The action by the local, Sindipetro Norte Fluminense, defied its national federation FUP, which on Friday recommended members... Continue Reading →
