Petrobras - Clarification of News Item: Negotiations of Petrobras Distribuidora Shares with Foreign Investors 10/14/2015 Rio de Janeiro, October 14, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds of Official Letter 407/2015/CVM/SEP/GEA-1, as transcribed below: Official Letter 407/2015/CVM/SEP/GEA-1 We refer to the news item published in the Painel section of the October 11, 2015... Continue Reading →
UPDATE 1-Petrobras begins search for fuel distribution unit partner
State-controlled oil producer Petróleo Brasileiro SA has begun a search for a strategic partner for fuel distribution unit BR Distribuidora, which in recent weeks scrapped an initial public offering plan in light of deteriorating market conditions. In a securities filing on Wednesday, the board of Petrobras, as the oil firm is commonly known, gave the... Continue Reading →
Petrobras Said to Cancel Local Bond Sale Amid Weak Demand
Petroleo Brasileiro SA, the world’s biggest junk-rated borrower, canceled a plan to sell 3 billion reais ($790 million) of local bonds, according to a person familiar with the matter. Petrobras couldn’t raise as much as it wanted because of lackluster demand after the state-controlled oil producer’s credit rating was cut to junk by Standard &... Continue Reading →
Petrobras – Drilling of new wells confirms the Libra area potential
Petrobras - Drilling of new wells confirms the Libra area potential 10/14/2015 Rio de Janeiro, October 14, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the consortium responsible for the Libra area, in the pre-salt of Santos Basin, has concluded the drilling of well 3-BRSA-1310-RJS, located in the central portion of the block. This... Continue Reading →
Petrobras saved $3.8 billion this year by managing debt better: CE
Wed Oct 14, 2015 Petrobras saved $3.8 billion this year by managing debt better: CEO Reuters People walk in front of the Petrobras headquarters in Rio de Janeiro February 2, 2015. REUTERS/SERGIO MORAES Brazilian state-run oil company Petroleo Brasileiro SA has saved $3.8 billion this year by improving the way it manages its debt, Chief... Continue Reading →
UPDATE 1-Brazil cuts oil output outlook
RIO DE JANEIRO, Oct 14 (Reuters) - Brazil's oil regulator ANP cut its outlook for petroleum production in Brazil to 4 million barrels a day in 2025 or 2026 from 4.5 million barrels a day in 2022, the agency's director general Magda Chambriard said on Wednesday. The reduction comes after a decline in oil prices,... Continue Reading →
Brazil cuts oil output outlook; says fuel imports to continue
Wed Oct 14, 2015 Brazil cuts oil output outlook; says fuel imports to continue Reuters Oct 14 Brazil's oil regulator ANP cut its outlook for petroleum production in Brazil to 4 million barrels a day in 2025 or 2026 from 4.5 million barrels a day in 2022, the agency's director general Magda Chambriard said on... Continue Reading →
Petrobras – Financing Agreement with ICBC Leasing
Petrobras - Financing Agreement with ICBC Leasing 10/13/2015 Rio de Janeiro, October 13, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that it concluded the negotiations with the Industrial and Commercial Bank of China Leasing - ICBC Leasing related to a financing transaction amounting to US$2 billion for a period of 10 years, through a... Continue Reading →
Brazil’s Petrobras to sign $2 bln leasing contract with China’s ICBC
Tue Oct 13, 2015 7:41am EDT Brazil's Petrobras to sign $2 bln leasing contract with China's ICBC Reuters Petrobras press release Oct 13 Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement... Continue Reading →
Petrobras Isn’t Only State-Run Company Unloved by Bond Traders
State-run companies are realizing government backing isn’t what it used to be. Tumbling commodities, a corruption scandal ensnaring Petroleo Brasileiro SA and slowing global growth are sapping demand for so-called quasi-sovereign debt across emerging markets, with state-backed companies in Brazil, South Africa, Colombia and Mexico faring the worst. Investors were demanding 1.09 percentage points more... Continue Reading →
