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Brazilian state-run oil company Petrobras and other investors reached an agreement to approve the restructuring plan of ailing oil-drilling-rig builder Sete Brasil Participações SA, two leading local newspapers reported on Friday. The plan would pave the way the refinancing of Sete Brasil's $3.8 billion in debt. Shareholders reached a deal for Sete to operate five... Continue Reading →
Petrobras - Clarification of News Item: Investment of Partners in Comperj 08/28/2015 Rio de Janeiro, August 28, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter BM&FBovespa 2727/2015-SAE which requests the following clarifications: OFFICIAL LETTER 2727/2015-SAE “An article published by Agência Estado – Broadcast on August 27, 2015, states, among other matters,... Continue Reading →
Thu Aug 27, 2015 10:31am EDT Petrobras management asked board to delay unit IPO, source says Aug 27 Management at state-controlled Petróleo Brasileiro SA recommended the company's board in a recent meeting to delay a planned initial public offering plan of its fuel distribution unit due to souring market conditions, a source with direct knowledge... Continue Reading →
Thu Aug 27, 2015 11:08am EDT Reuters Petrobras needs $4.3 bln to finish 1st unit at Comperj refinery Aug 27 Brazil's state-run oil company Petroleo Brasileiro SA needs $4.3 billion to complete the first 165,000 barrel-a-day operating unit at its stalled Comperj refinery outside Rio de Janeiro, the company's refining chief said on Thursday. The... Continue Reading →
Brazil's government is working on a deal to allow construction companies implicated in a massive corruption scandal to resume doing business with state-run oil company Petrobras in exchange for paying fines and damages, a government official briefed on the matter said on Wednesday. The official, who asked not to be identified because negotiations are not... Continue Reading →
A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. (1300 GMT) while workers were doing planned maintenance on the heating unit, said the press... Continue Reading →
Petroleo Brasileiro SA is seeking refuge in Brazil’s domestic bond market as overseas borrowing costs surge amid a plunge in the local currency has exposed a mismatch between its real-based revenues and dollar debt payments. The world’s most-indebted oil producer said it’s planning to sell 3 billion reais ($830 million) in local bonds. The move... Continue Reading →
State-controlled Petróleo Brasileiro SA is growing uneasy with some aspects of the business reorganization of ailing oil-drilling-rig builder Sete Brasil Participações SA, a situation that may pose risks on the refinancing of $3.8 billion in debt, two sources said on Monday. Officials at Petrobras, as the oil company is known, are questioning technical aspects of... Continue Reading →
Petrobras - Clarification of News Item: Payment of fine for the winding up of investigations in the United States 08/19/2015 Rio de Janeiro, August 19, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby declares that, in relation to news published in the media concerning the payment of a fine to the U.S. authorities, there are... Continue Reading →
Petrobras - Clarification on News: Funding via Debentures 08/18/2015 Rio de Janeiro, August 18, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with the Official Letter No. 314/2015/CVM/SEP/GEA-1 requesting the following clarification: Official Letter No. 314/2015/CVM/SEP/GEA-1 “We refer to the news published this date in the Finance Section of the Valor Econômico newspaper, under the... Continue Reading →
Brazil Energy Insight 