Brazil’s main oil union began a nationwide strike Sunday to halt asset sales by state-controlled Petroleo Brasileiro SA at a time the company is slashing investments to reduce the biggest debt load in the oil industry. The Oil Workers Federation, known as FUP, said the nationwide strike started on Nov. 1. Some of the FUP’s... Continue Reading →
Brazil’s Petrobras ups stake in Tereos sugar, ethanol unit
French sugar group Tereos said on Friday Brazil's Petrobras had raised its stake in their sugar and ethanol joint venture Guarani to 45.9 percent through a capital injection of 268 million reais ($69.75 million). Tereos, which said this was the final step of a strategic partnership signed with Petrobras in 2010, remains the majority shareholder... Continue Reading →
Petrobras scandal runs Rolls-Royce through ‘Car Wash’
http://www.ft.com/cms/s/0/9d7dec5e-7740-11e5-a95a-27d368e1ddf7.html#ixzz3q2nteW82 October 29, 2015 11:54 pm Petrobras scandal runs Rolls-Royce through ‘Car Wash’ Richard House ©EPA To the streets: prompted by the Lava Jato inquiry, anti-government protesters demonstrate in São Paulo The entanglement of Rolls-Royce in the complex web of corruption cases surrounding Petrobras, Brazil’s state-owned oil company, is a powerful reminder of the scale and reach... Continue Reading →
Petrobras – Naphtha supply agreement extension
Petrobras - Naphtha supply agreement extension 10/29/2015 Rio de Janeiro, October 29, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its competent bodies will appreciate the proposed terms for the signature of new amendments to the naphtha supply agreements to Braskem, allowing supply to continue during negotiations for a long-term contract. Petrobras has... Continue Reading →
Petrobras – Clarification on News: Reduction in Expenses with Exploration and Production
Petrobras - Clarification on News: Reduction in Expenses with Exploration and Production 10/30/2015 Rio de Janeiro, October 30, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 3251/2015-SAE which requested the following clarification: BM&FBOVESPA OFFICIAL LETTER 3251/2015-SAE “An article published on October 29, 2015 in the newspaper O Estado de São... Continue Reading →
Brazil’s main oil union to strike against Petrobras from Sunday
Oct 30- Brazil's largest oil workers union said on Friday it will start an open-ended strike against Petrobras on Sunday in a bid to overturn moves to shrink the state-run oil company. FUP, which represents platform, refinery and other workers, will join a number of smaller unions already on strike. In a statement, FUP said... Continue Reading →
Breakingviews Petrobras should be considered too big to fail
By Kevin Allison and Neil Unmack The author is a Reuters Breakingviews columnist. The opinions expressed are his own. It would be hard for Brazil to let Petroleo Brasileiro go. The embattled oil company is hobbled by rising debt with bond yields pricing in a high degree of distress. The government of President Dilma Rousseff... Continue Reading →
OTC Brasil Highlights
OTC Brasil Nov. 27-29, Rio de Janeiro OTCBrasil29Nov2015
Tax tangle arises as Brazil starts importing U.S. condensate
Petrobras' move to start buying processed U.S. condensate will help output at its domestic refining network, but the purchases have exposed a wrinkle in Brazilian law that could allow the state-run company to import the light oil duty-free, tax lawyers and traders said. Typically, condensate is considered a very light form of crude found in... Continue Reading →
Petrobras – Clarification on News: Indemnification for piped gas service to Fafen
Petrobras - Clarification on News: Indemnification for piped gas service to Fafen 10/28/2015 Rio de Janeiro, October 28, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 3229/2015-SAE requests clarification, as transcribed below: BM&FBovespa Official Letter 3229/2015-SAE “A news item published in Valor Econômico newspaper on October 27, 2015 states, among... Continue Reading →
