Petrobras - Studies for public offering of shares from Petrobras Distribuidora S.A. 07/01/2015 Rio de Janeiro, July 1st, 2015 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 157, § 4º of Act 6.404, of December 15th, 1976, as amended, and Normative Instruction no. 358 of January 3rd, 2002, from the Brazilian Securities Commission... Continue Reading →
Petrobras – Sale of Interest in Concessions of Bijupirá and Salema
Petrobras - Sale of Interest in Concessions of Bijupirá and Salema 07/01/2015 Rio de Janeiro, July 1st, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that has signed today, with PetroRio S.A. (‘PetroRio’), the celebration of the contracts regarding the sale of 20% of its interest in the concessions of Bijupirá and Salema fields, currently... Continue Reading →
Another Ex Petrobras Director Negotiates Leniency with Prosecutors
Ex Petrobras executive serving five years in prison for his role in the corruption scandal has begun talks with prosecutors in a bid to shorten his sentence, according to two people familiar with the talks. Nestor Cerveró, a former director of international operations at Brazil´s state-run oil firm Petróleo Brasileiro SA, was convicted in May of money laundering.... Continue Reading →
Another Former Petrobras Director Bites the Dust
Brazilian police have arrested Jorge Zelada, former head of Petrobras' international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, a local newspaper reported on Thursday. Zelada is accused of money-laundering, appropriating public funds, corruption, tax evasion and contract fraud, Folha de S. Paulo newspaper reported. He was... Continue Reading →
Petrobras Starts to Sell Oilfield Assets
Petroleo Brasileiro SA, as Petrobras is formally known, agreed to sell its 20 percent interests in the Bijupirá and Salema oil and natural gas fields in Brazil's Campos Basin northeast of Rio de Janeiro to Petro Rio SA for $25 million, according to a statement. Petro Rio was formerly known as HRT Participações em Petroleo... Continue Reading →
Petrobras Studies Distribution Subsidiary Listing
Brazil’s state-controlled oil producer is considering listing the subsidiary, Petrobras Distribuidora SA, or BR, in a secondary public offering, the company said in a filing Wednesday. Other options include finding a strategic partner for the business, the company said. Read More
Brazil Petrochemical Giant Sued in US over Petrobras Scandal
A Braskem SA shareholder has sued the Brazilian petrochemical producer, accusing it of being involved in a graft scandal that has engulfed key stakeholders Odebrecht and Petrobras and led to a selloff in Braskem's U.S.-traded stock. Plaintiff Douglas W. Peters is seeking class action status for the lawsuit, filed in a Manhattan federal court on... Continue Reading →
Chinese Eye Petrobras Assets and Collect on Financing
Two Chinese companies that entered Brazil’s giant deep-water oilfields two years ago are now looking to increase their presence as state-run Petrobras sells assets to pay down debt, said two people with knowledge of the matter. China Petroleum & Chemical Corp., or Sinopec, and Cnooc Ltd. are among companies interested in buying stakes in so-called... Continue Reading →
Will Petrobras Deliver?
Brazilian state-run oil company Petroleo Brasileiro SA's long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. Petrobras has not met an annual production target since 2003 when the Workers' Party government of Brazilian President Dilma Rousseff and her predecessor... Continue Reading →
Petrobras – Clarification on News: Sale of Ships
Clarification on News: Sale of Ships 06/29/2015 Rio de Janeiro, June 29th, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter n.º 204/2015/CVM/SEP/GEA-1 which requests clarification, as below: OFFICIAL LETTER n.º 204/2015/CVM/SEP/GEA-1 “We referred to news released on this date, in the newspaper “Valor Online”, entitled: “Petrobras negotiates the sale of 23 ships,... Continue Reading →
