Brought to you by Quest Offshore & Southern Cone Consultants
To see the damage done to bondholders of Brazil’s flagship oil company, just compare its yields to those of its lower-rated peer across the border in default-prone Argentina. The rout in notes from the world’s largest junk-rated corporate issuer means Petroleo Brasileiro SA’s borrowing costs are now higher those for YPF SA, the oil company... Continue Reading →
At R$4.00 to the US dollar, Petrobras' massive debt has increased by R$70 billion compared to last quarter. This amount is equivalent to the company's divestment goal of U$15.1 billion. So much for reducing debt by selling assets. About 80% of Petrobras debt is US dollar denominated. At the end of last quarter total debt... Continue Reading →
It’s unlikely that oil prices will ever return to $100 a barrel andPetroleo Brasileiro SA needs to work with suppliers to manage the price rout, an executive at the state-run oil producer said Tuesday The world’s largest producer in ultra-deep waters is working to optimize technology to cut costs and save in everything from buoys... Continue Reading →
Petrobras - Interest Sale in Natural Gas Distribution Companies 09/22/2015 Rio de Janeiro, September 22, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that it is in final negotiation with Mitsui Gas e Energia do Brasil Ltda to sell 49% of the holding company that will consolidate all Petrobras interests in natural gas distribution companies... Continue Reading →
Brazil's state-controlled oil producer Petroleo Brasileiro SA said on Tuesday it is in the last stages of negotiations with a Mitsui & Co Ltd Brazilian unit over the purchase of a minority stake in a natural gas holding company. In a securities filing, Petrobras said it is considering the sale of 49 percent of a... Continue Reading →
Petrobras ends contracts for two World Wide Supply PSVs zoom World Wide Supply AS, a company providing offshore shipping services for the global petroleum industry, has received notice of early termination of contracts for two of its platform supply vessels (PSVs) from Brazilian oil and gas giant Petrobras. Namely, the contracts were terminated for two 2013-built... Continue Reading →
Petrobras scraps deals for three Ultrapetrol’s vessels After early termination of contracts forWorld Wide Supply and Siem Offshore‘s vessels, Petrobras also terminated contracts for three Ultrapetrol’s platform supply vessels (PSVs). Namely, Ultrapetrol, an industrial transportation company serving marine transportation needs in river business, offshore supply business, and ocean business, announced Monday that it has received notification from... Continue Reading →
Petrobras former engineering head Renato Duque and former Workers’ Party Treasurer Joao Vaccari were sentenced to jail for corruption and money laundering in Brazil’s largest graft scandal, known as Carwash. The conviction is the first against key figures connecting the kickback scheme to higher echelons of President Dilma Rousseff’s Workers’ Party. Duque was sentenced by... Continue Reading →
Brazilian police carried out on Monday a new round of arrests and search and seizure operations in the corruption probe involving state-run oil firm Petrobras, local media said. A former executive of engineering firm Engevix was arrested for allegedly paying bribes to officials at Brazil's state-run nuclear power firm Eletronuclear, according to Globo TV. Federal... Continue Reading →
Petrobras - Clarification on News: Petrobras without Gaspetro 09/16/2015 Rio de Janeiro, September 16, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter 359/2015/CVM/SEP/GEA-1, which requested clarifications as transcribed below: OFFICIAL LETTER 359/2015/CVM/SEP/GEA-1 “We report hereby to the news published by the Isto É Dinheiro magazine, under the title “Petrobras sem Gaspetro” (Petrobras... Continue Reading →
