Petrobras - Oil and Natural Gas Production in July 08/18/2015 Rio de Janeiro, August 18, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average production of oil and natural gas, in Brazil and abroad, was 2.796 million barrels of oil equivalent per day (boed) in July 2015, an increase of 1.8% compared to... Continue Reading →
Petrobras – Additional Information about the Initial Public Offering of Petrobras Distribuidora
Petrobras - Additional Information about the Initial Public Offering of Petrobras Distribuidora 08/18/2015 Rio de Janeiro, August 18, 2015 - Petróleo Brasileiro S.A. - Petrobras hereby informs that, pursuant to CVM Instruction 480/09, it has published in the system of the Brazilian Securities and Exchange Commission (CVM) an acknowledgement relating to the meeting of the... Continue Reading →
UPDATE 1-Petrobras chairman votes against stake sale in fuel unit
Petrobras Chairman Murilo Ferreira dissented in a recent vote to sell a stake of at least 25 percent in the Brazilian state- controlled company's BR Distribuidora SA fuel distribution unit to help reduce debt, board meeting minutes showed. The 10-member board of Petróleo Brasileiro SA, as the oil producer is formally known, approved the proposal... Continue Reading →
Exclusive: U.S. graft probes may cost Petrobras record $1.6 billion or more
Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. State-run Petroleo Brasileiro SA, as the company is formally known, expects to face the largest penalties ever levied... Continue Reading →
Former Petrobras exec sentenced for Samsung drillship bribe
A Brazilian judge sentenced Nestor Cervero, former international chief of state-run oil firm Petrobras, to just over 12 years in prison on Monday for corruption and money laundering related to a bribe allegedly paid to the speaker of Brazil's lower house of Congress. Cervero and two other defendants are accused of organizing bribes from Korean... Continue Reading →
Petrobras – Inclusion of Tax Debits in REFIS
Petrobras - Inclusion of Tax Debits in REFIS 08/14/2015 Rio de Janeiro, August 14, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that it has decided to include tax debits in the Special Installment Program – REFIS, instituted by Law 12996/2014 and regulated by Joint Ordinance PGFN/RFB 1064/15 and Regulatory Instruction RFB 1576/15, published... Continue Reading →
Petrobras to refinance 6 bln reais tax bill with government
State-controlled Petróleo Brasileiro SA agreed on Friday to refinance an outstanding 6 billion reais ($1.7 billion) tax debt with the Brazilian government, allowing the debt-laden oil producer to restructure an onerous liability. Under terms of the plan, the company commonly known as Petrobras will have the debt cut by half, and use tax credits to... Continue Reading →
Brazil Authorities Detail U.S. Link in Petrobras Case
Brazilian authorities leading an investigation into a massive corruption scandal at the state-run oil firm Petróleo Brasileiro SA have for the first time detailed suspected wrongdoing on U.S. soil. The authorities had previously shown evidence that some suspects in the case laundered money through U.S. bank accounts. But new evidence purports to show two suspects... Continue Reading →
Two Petrobras Basins: One Safe But Fading, One Is a Costly Bet
The two oil basins off Rio de Janeiro’s coast offer a glimpse into the tough choices Petroleo Brasileiro SA is making as it slashes $77 billion in investments. The Campos Basin along Rio’s north shoreline produces more oil than any other region in Brazil, but output is sliding fast as fields age. The Santos Basin... Continue Reading →
Ultrapar keen to acquire some Petrobras gas assets
Ultrapar Participações SA , which owns Brazil's largest natural gas distribution company, is interested in acquiring some assets from state-controlled Petróleo Brasileiro SA that could be listed as early as this year, O Estado de S. Paulo newspaper reported on Monday. Ultrapar would be willing to acquire Liquigás, a rival controlled by the state firm... Continue Reading →
Brazil Energy Insight 