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State-controlled Petróleo Brasileiro SA hired a group of five banks to handle the initial public offering of its fuel distribution business, two sources with knowledge of the plans said on Friday. The investment-banking units of Citigroup Inc, Banco Bradesco SA, Itaú Unibanco Holding SA, Banco do Brasil SA and Grupo BTG Pactual SA were hired... Continue Reading →
Petrobras - Settlement of Tax Contingency 07/16/2015 Rio de Janeiro, July 16, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that, due to the unfavorable final ruling in the administrative sphere by the Tax Appeals Board (CARF), it paid today the amount of R$1.6 billion in relation to the Tax Deficiency Notice issued by... Continue Reading →
Petrobras - New Decision on the Parque das Baleias Arbitration 07/17/2015 Rio de Janeiro, July 17, 2015 – Petróleo Brasileiro S.A. – Petrobras, regarding the press released filled on July 6th about the Parque das Baleias Arbitration, informs that the Arbitration Tribunal presented a new ruling determining the suspension of the deposits of the disputed... Continue Reading →
Petrobras - Clarification of Press Article: Costs Reduction 07/16/2015 Rio de Janeiro, July 16, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 2351/2015-SAE, as transcribed below: OFFICIAL LETTER 2351/2015-SAE “We request clarification, by 9AM July 17th, 2015, regarding the content of news released by O Estado de Sao Paulo, edition... Continue Reading →
Brazil's state-run oil company Petroleo Brasileiro SA is working to bring domestic diesel and gasoline prices into parity with international levels in order to attract downstream buyers or partners, a company executive said on Thursday. Petrobras, as the company is known, is looking to sell assets as it battles to survive a combination of mounting... Continue Reading →
Brazil's state-run oil company Petroleo Brasileiro SA said late Thursday it paid 1.6 billion reais ($508 million) to settle part of a tax dispute with Brazilian authorities and will take a charge against second-quarter earnings. The payment includes 1.2 billion reais in back taxes and 400 million reais in fines and interest, Petrobras, as the... Continue Reading →
Petrobras - Clarification of Press Article: Privatization of Gas Pipelines 07/15/2015 Rio de Janeiro, July 15, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 245/2015/CVM/SEP/GEA-1, as transcribed below: OFFICIAL LETTER 245/2015/CVM/SEP/GEA-1 “We refer to the article published today in the Market section of Folha de São Paulo entitled Petrobras estuda privatizar... Continue Reading →
Petroleo Brasileiro SA’s $58 billion asset sale proposal would be unprecedented for the oil industry -- and for good reason. It may be impossible to pull off. The plan, released last week by the Brazilian state-run oil company known as Petrobras, calls for $15.1 billion in divestments by the end of 2016 and an additional... Continue Reading →
Petrobras - Oil and Natural Gas Production on June 07/10/2015 Rio de Janeiro, Jully 10th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that, on June 2015, its oil and natural gas production was 2 million 746 thousand barrels of oil equivalent per day (boed), in Brazil and abroad, 0.7% lower than the volume produced... Continue Reading →
Petrobras - Order on the motion to dismiss in the U.S. action 07/10/2015 Rio de Janeiro, July 10th, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the judge responsible for the U.S. action today issued an order on the motion to dismiss presented by Petrobras, partially granting the company's motion. The motion to dismiss... Continue Reading →
Brazil Energy Insight 