Petrobras - Clarification on news article: Reduction in Investments 10/02/2015 Rio de Janeiro, October 2, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby complies with LETTER BM&FBovespa 3015/2015-SAE, which requests the following clarification: LETTER BM&FBovespa 3015/2015-SAE “A news article published in the Valor Econômico newspaper on October 2, 2015 features, among other information, that this... Continue Reading →
Petrobras to Cut Investments again for 2015
Petrobras will cut 2015 investments to U$20 billion, down from originally U$40 billion at the start of the year and revised down to U$29 billion at mid year, according to reputable newspaper reporting this Friday. Soaring dollar and the fall in the price of the barrel of oil are forcing Petrobras directors to review, once... Continue Reading →
The Guys Who Took Down Petrobras Crime Ring Fight to Keep Case
The group behind Brazil’s biggest-ever corruption probe has tracked the $1.5 billion bribery scheme that started with Petroleo Brasileiro SA across four continents. Now, the team of prosecutors, police and one dogged judge may be facing their biggest challenge yet: hanging on to the investigation. Defense attorneys are trying to chip away at the judge’s... Continue Reading →
Petrobras bonds rally on hike in fuel prices
Wed Sep 30, 2015 3:06pm EDT Petrobras bonds rally on hike in fuel prices BY PAUL KILBY/Reuters NEW YORK, Sept 30 (IFR) - Bonds issued by troubled state-run Brazilian oil company Petrobras were enjoying a rare rally on Wednesday following news that it would raise local gasoline and diesel prices. Petrobras's debt prices jumped between... Continue Reading →
Petrobras – Price Readjustment
Petrobras - Price Readjustment 09/30/2015 Rio de Janeiro, September 30, 2015 – Petróleo Brasileiro S.A. – Petrobras informs the following increase in prices at the refinery gate, which will be in effect beginning midnight, September 30, 2015: Product Reajustment* Gasoline 6% Diesel 4% * Brazil average The prices of gasoline and diesel to which these... Continue Reading →
Petrobras to cut another ten drill rigs from their portfolio in 2016
Petrobras to cut another ten drill rigs from their portfolio in 2016 The portfolio of Petrobras drill rigs should be reduced to 35 units in 2016 due to the negotiations with the drilling companies to reduce daily fees and court costs. The projection is from the E & P division at Petrobras , down from... Continue Reading →
UPDATE 1-Brazil’s Petrobras to raise gasoline, diesel prices
UPDATE 1-Brazil's Petrobras to raise gasoline, diesel prices * Hike in prices will start from Wednesday * Petrobras grappling with debt, corruption scandal (Adds detail, background) (Reuters) - Brazil's state-run oil company Petroleo Brasileiro said on Tuesday it would raise the price of gasoline by 6 percent and diesel by 4 percent at refineries in... Continue Reading →
Petrobras – Third well confirms light oil potential in Carcará area at Santos Basin pre-salt
Petrobras - Third well confirms light oil potential in Carcará area at Santos Basin pre-salt 09/28/2015 Rio de Janeiro, September 28, 2015 – Petrobras informs that the drilling of the third well in Carcará area (Block BM-S-8), located at Santos Basin´s ultra-deep waters, confirmed the light oil potential in pre-salt’s reservoirs. The well 3-SPS-104DA (Petrobras... Continue Reading →
Brazil’s Petrobras says invited SBM Offshore for tender
Brazil's Petrobras says invited SBM Offshore for tender SAO PAULO, SEPT 28 Reuters Brazil's state-run oil firm Petroleo Brasileiro SA said on Monday it had invited Dutch oil platform leasing company SBM Offshore NV to participate in future tender contracts after contacting prosecutors and the country's CGU comptroller. SBM said earlier on Monday it had... Continue Reading →
Brazil’s Record Overseas Borrowing Comes Back to Bite Companies
Brazilian companies including state oil producer Petrobras are at risk from a weakening real after they issued a record amount of debt in foreign currency. The mismatch prompted PresidentDilma Rousseff to say over the weekend that she’s “extremely concerned” about the situation. Borrowing in overseas markets by non-finance companies reached a record $137 billion last... Continue Reading →
Brazil Energy Insight 