Prosecutors and federal police in Brazil unearthed the country's largest-ever corruption scandal by tying a ring of black-market money changers to a price-fixing and political kickback scheme at state-run oil firm Petrobras. Executives from two dozen engineering firms are accused of inflating the value of service contracts and funneling the excess funds into their own... Continue Reading →
Petrobras union may follow 24-hour strike with September walkout
Brazil's main oil workers union is considering an open-ended strike in September if a 24-hour walkout scheduled for midnight Thursday fails to stop moves to shrink state-run oil company Petrobras, a senior union official said. FUP, which represents platform, refinery and other workers, is fighting plans by Petroleo Brasileiro SA, as Petrobras is known, to... Continue Reading →
Petrobras – Clarification on News: Contract with Braskem
Petrobras - Clarification on News: Contract with Braskem 07/21/2015 Rio de Janeiro, July 21st, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 278/2015/CVM/SEP/GEA-1, as transcribed below: OFFICIAL LETTER 278/2015/CVM/SEP/GEA-1 We refer to the article published on July 18, 2015 on the G1 website, entitled Petrobras sai no prejuízo em contrato com... Continue Reading →
Petrobras – Clarification on News: Petrobras Distribuidora offering
Petrobras - Clarification on News: Petrobras Distribuidora offering 07/21/2015 Rio de Janeiro, July 21st, 2015 – Petróleo Brasileiro S.A. – Petrobras´ response to Official Letter BM&FBovespa n.º 2379/2015-SAE, as transcribed below: OFÍCIO n.º 2379/2015-SAE “According to the news’ content broadcasted by Valor Econômico, on 07/21/2015, comprises information that the company analyzes (to make) the IPO... Continue Reading →
Petrobras shares rally on Rousseff’s dismal poll numbers
Tue Jul 21, 2015 Petrobras shares rally on Rousseff's dismal poll numbers Preferred shares of state-run oil producer Petroleo Brasileiro SA erased early losses to rise about 3 percent in early Tuesday trading after a poll showed President Dilma Rousseff's popularity continued to tumble due to a mounting corruption scandal and economic recession. The poll... Continue Reading →
Sete Brasil Ex President Admits Taking Bribes
Sete Brasil's ex president, João Carlos Ferraz, admited that in a moment of weakness in 2013 he accepted bribes of U$1.9 million from the shipyards constructing Sete's rigs. The company's board have taken legal action and are asking for R$22 million in restitution. The company's board assures that this incident will not affect the on... Continue Reading →
Petrobras hires Citibank and 5 Others for IPO of BR Distribuidora
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
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
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
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 →
