Petrobras - Gaspetro’s spin-off 10/23/2015 Rio de Janeiro, October 23, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors, in a meeting held today, has approved the partial spin-off of Petrobrás Gás S.A. (Gaspetro). The spin-off aims to segregate the assets and liabilities related to the natural gas distribution business from... Continue Reading →
UPDATE 3-Petrobras fetches $490 mln with gas unit stake to Mitsui
State-controlled Petróleo Brasileiro SA's board approved selling a minority stake in a natural gas distribution unit to Japan's Mitsui & Co Ltd for 1.9 billion reais ($490 million) in a key step toward disposing of non-essential assets to repay debt. Petrobras, as the oil producer is commonly known, had been engaged in negotiations with Mitsui... Continue Reading →
Petrobras Helicopter Tender Process Expected to Be Canceled
Era Group Inc. (NYSE: ERA) ("Era"), a leading helicopter transport operator based in the United States, announced that Aeróleo Taxi Aero S/A, its Brazilian joint venture ("Aeroleo"), received notification today from Petroleo Brasileiro S.A. ("Petrobras") that Petrobras will cancel the ongoing tender process for heavy and medium helicopters. In its notification, Petrobras noted its determination... Continue Reading →
Petrobras – Clarification of News item: Lawsuit questions sale of Gaspetro
Petrobras - Clarification of News item: Lawsuit questions sale of Gaspetro 10/21/2015 Rio de Janeiro, October 21, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 420/2015/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 420/2015/CVM/SEP/GEA-1 “We refer to the news item published today in the Empresas (Companies) section of Valor Econômico newspaper,... Continue Reading →
CORRECTED-UPDATE 1-Brazil gives SBM ultimatum in $250 mln bribery settlement
Brazil has told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oilship market, a government source told Reuters. The ultimatum gives SBM several days to sign a leniency deal that includes... Continue Reading →
Pimco sues Brazil’s Petrobras for fraud
Pimco sues Brazil’s Petrobras for fraud Bloomberg By WILL CONNORS RIO DE JANEIRO--Add giant investment firm Pacific Investment Management Co. to the list of entities suing Brazil’s troubled state-run oil company Petroleo Brasileiro SA. California-based Pimco claims in its lawsuit that Petrobras PBR, -1.00% PETR4, -0.62% misled investors about the scope and scale of a... Continue Reading →
Brazil banks to extend Sete Brasil $3.6 bln repayment deadline -report
The five Brazilian banks owed $3.6 billion from Sete Brasil, a company set up to build offshore drill-rigs for state-led oil company Petroleo Brasileiro SA, will extend a repayment deadline into next year, the Estado de S.Paulo newspaper reported on Tuesday. The debt, owed to state-led Banco do Brasil SA and state-owned Caixa Economica Federal... Continue Reading →
Norway’s Sevan Drilling investigated for corrupt activities involving Petrobras
Sevan Drilling Ltd: Press Release 16.10.2015 Reference is made to the Company's press release dated 29 June, 2015, regarding Brazilian authorities' investigation into corrupt activities involving Petrobras. In 2011, Sevan Drilling was separated out from the 100% ownership of Sevan Marine ASA and listed separately on the Oslo stock exchange.The Company notes that Sevan Marine... Continue Reading →
Petrobras – Oil and natural gas production in September
Petrobras - Oil and natural gas production in September 10/16/2015 Rio de Janeiro, October 16, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average production of oil and natural gas, in Brazil and abroad, was 2.72 million barrels of oil equivalent per day (boed) in September 2015, compared to 2.88 million boed produced... Continue Reading →
Petrobras, Bond-Market Pariah, Suddenly Captivates Deutsche Bank
For much of the past year, Petroleo Brasileiro SA’s unrelenting rout has pushed down bond prices to new lows day after day. Now, Deutsche Bank AG is finally starting to see value in the state-controlled oil producer’s debt. The strategy is simple: buy its $3.35 billion of notes due in 2017 -- whose yields have more... Continue Reading →
Brazil Energy Insight 