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 →
Bill Gates’ foundation sues Brazil’s Petrobras
The Bill & Melinda Gates Foundation has sued Brazil's Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company. According to a complaint filed late Thursday night in federal court in Manhattan, Petrobras' "pervasive bribery and money laundering scheme" caused the Gates Foundation and another plaintiff, WGI Emerging Markets Fund... Continue Reading →
Transocean Cited in Petrobras Carwash Corruption Investigation
Transocean Ltd., the world’s largest offshore rig contractor, is being linked for the first time to the corruption probe of Petroleo Brasileiro SA, the state-owned energy giant at the center of Brazil’s biggest corporate scandal. A former executive at Brazil’s state-run oil company has testified to receiving what he says were payments made by someone claiming to... Continue Reading →
Odebrecht Bonds Plunge as Petrobras Cancels Drill Ship Contract
Bonds backed by four Odebrecht drilling rigs plunged to the lowest since they were issued after Brazil’s state oil company canceled a contract to rent one of the ships. Odebrecht Offshore Drill Finance’s $1.5 billion of bonds due 2022, which are backed by cash flows coming from the drill ships, fell 13 percent to 25... Continue Reading →
Petrobras – Market value below R$100 billion
Petrobras – Market value below R$100 billion At the close of the stock market last night, the market value of Petrobras stood at R$99.68 billion. Exactly 5 years ago today, Petrobras celebrated the world’s largest corporate mega capitalization ever of R$125 billion, Petrobras market value jumped to R$321 billion. To many, this was the beginning... Continue Reading →
