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Clashes between CEO, board threaten to hamper oil firm’s efforts to shore up its finances By PAUL KIERNAN Nov. 5, 2015 7:57 p.m. ET RIO DE JANEIRO—Growing friction between the chief executive of Brazilian state oil company Petróleo Brasileiro SA and its board is threatening to hamper the company’s efforts to shore up its finances, people familiar with... Continue Reading →
Brazilian union leaders said on Thursday stronger than expected support for a strike at Petrobras is due to growing worker opposition to a creeping privatization of the state oil company. The strike, which began on Sunday, has become the biggest stoppage in two decades at Petrobras and shows workers back union efforts to renationalize the... Continue Reading →
11/04/2015 Rio de Janeiro, November 4, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter nº 442/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: OFFICIAL LETTER nº 442/2015/CVM/SEP/GEA-1 “We refer to the news item published in Lauro Jardim’s blog, entitled Tempo quente na Petrobras: mais uma renúncia no conselho (“Hot weather at Petrobras: another... Continue Reading →
Members of Brazil's national oilworkers federation said on Wednesday that Petrobras was underestimating output losses. In a statement late Wednesday, Brazil's biggest oil union federation said production cuts are as much as a quarter of Petrobras Brazilian output, or just over 500,000 barrels a day. The union, though, did admit that it has not cut... Continue Reading →
Brazil's state-controlled oil company Petróleo Brasileiro SA agreed to buy 82,000 cubic meters (515,764 barrels) of gasoline from Braskem SA in November, bolstering supplies of the fuel as Petrobras faces its biggest strike in 20 years. Petrobras, which owns 36 percent of Braskem, signed the contract on Oct. 26 and will receive the fuel from... Continue Reading →
11/04/2015 Rio de Janeiro, November 4, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the strike coordinated by the oil workers’ unions is still affecting its operations. Yesterday, November 3rd, 2015, as forecasted by the Company, oil production fell by 178,000 barrels, equivalent to around 8.5% of daily output in Brazil. With the measures... Continue Reading →
Resignation of Petrobras Board of Directors Member Mr. Clovis Torres Junior 11/03/2015 Rio de Janeiro, November 3rd, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that Mr. Clovis Torres Junior resigned today, for personal reasons, from both his positions as board member of Petrobras and as chairman of Petrobras Distribuidora S.A (BR). Mr. Clovis Torres... Continue Reading →
Petrobras - Oil Workers’ Strike 11/03/2015 Rio de Janeiro, November 3, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that the strike coordinated by the oil workers’ unions is affecting its operations. Yesterday, November 2, 2015, oil production fell by 273,000 barrels, equivalent to 13% of daily output in Brazil. There was also a... Continue Reading →
A labor strike that began on Sunday has reduced oil production from Brazil's state-run oil producer Petroleo Brasileiro SA by 273,000 barrels on Monday, or 13 percent of its output, the company said in a Tuesday security filing. Petrobras said it estimated oil production would show a 8.5 percent drop on Tuesday and natural gas... Continue Reading →
Brazil’s daily oil production has fallen by about 500,000 barrels as oil workers strike for the third day to protest austerity measures by state-controlled Petroleo Brasileiro SA that are resulting in job losses, the country’s main oil union said Tuesday. Output from the Campos Basin is down about 400,000 barrels a day with 25 offshore... Continue Reading →
Brazil Energy Insight 