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 →
Petrobras fuel tank explodes in Brazil, killing two
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 →
Petrobras Taps Brazil Bond Market as Dollar Borrowing Costs Soar
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 →
Petrobras uneasy with aspects of Sete restructuring -sources
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
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
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 →
Petrobras – Oil and Natural Gas Production in July
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 →
