Petrobras Informs - Reversal of allowance for impairment of trade receivables Rio de Janeiro, May 20, 2015 - Petróleo Brasileiro SA - Petrobras informs that it has provisioned, in its 2014 Financial Statements, an allowance for impairment of trade receivables to cover uncollateralized receivables. In the 1st quarter 2015 financial statements, as disclosed in the... Continue Reading →
Petrobras may need to re-publish Q1 results due to accounting issue- regulator
Wed May 20, 2015 4:19pm EDT Petrobras may need to re-publish Q1 results due to accounting issue- regulator SAO PAULO/Reuters May 20. Brazil's state-run oil company Petroleo Brasileiro SA could be forced to re-publish first-quarter results after it included a contract completed after the reporting period, the president of Brazil's markets regulator said on Wednesday.... Continue Reading →
Petrobras probe looks to dig up corpse
http://www.ft.com/cms/s/0/4badd072-ff3d-11e4-84b2-00144feabdc0.html#ixzz3alkIKZkx May 20, 2015 11:54 pm Petrobras probe looks to dig up corpse Joe Leahy in São Paulo/FT ©Getty An investigation into corruption at Petrobras took a macabre turn on Wednesday as Brazil’s Congress sought to exhume the corpse of the scandal’s alleged political mastermind to quell suspicions that he might still be alive. A congressional inquiry... Continue Reading →
Petrobras Turns to China for $10 Billion to Avert Cash Crunch
Petrobras Turns to China for $10 Billion to Avert Cash Crunch by Juan Pablo Spinetto Sabrina Valle/Bloomberg 3:43 PM BRT May 20, 2015 What do you do when you’re burdened with the oil industry’s biggest debt, credit is drying up and some of your main suppliers are under the gun? Call China. Brazilian President Dilma... Continue Reading →
For Petrobras, ‘Oils’ Not So Well For Drilling Partners
5/17/2015 @ 12:16PM For Petrobras, 'Oils' Not So Well For Drilling Partners Kenneth Rapoza/Forbes Petrobras needs heavy equipment, like entire offshore production vessels, to get at its oil deep under the Atlantic Ocean floor. Credit problems at partner firms, and delays on its floating production storage and offshoring projects means production figures probably won’t look as good... Continue Reading →
Petrobras – Clarification on News: Revision of the Transfer of Rights Agreement
Petrobras - Clarification on News: Revision of the Transfer of Rights Agreement Rio de Janeiro, May 20, 2015 – Petróleo Brasileiro S.A. – Petrobras, in relation to news released in the media regarding the value of the revision of the Transfer of Rights Agreement clarifies: The Transfer of Rights Agreement, signed between Petrobras and the... Continue Reading →
Petrobras – Funding Agreement of USD 5 billion with China Development Bank Corporation
Petrobras - Funding Agreement of USD 5 billion with China Development Bank Corporation Rio de Janeiro, May 20, 2015 - Petróleo Brasileiro SA - Petrobras informs that it has signed yesterday with China Development Bank Corporation- CDB a cooperation agreement for the years 2015 and 2016. This agreement includes funding of $ 3.5 billion, already... Continue Reading →
Petrobras Said Squeezed for Payment Five Years After Sale
Petrobras Said Squeezed for Payment Five Years After Sale by Anna Edgerton/Bloomberg 12:00 AM BRT May 19, 2015 Brazil's Finance Minister Joaquim Levy. Photographer: Simon Dawson/Bloomberg Investors in a 2010 Petrobras stock sale may have to abandon hope that Brazil will help cut their losses. The finance ministry is likely to seek reimbursement of as much... Continue Reading →
Goldman’s Oil Call Sinks Petrobras Shares as Ibovespa Declines
Goldman’s Oil Call Sinks Petrobras Shares as Ibovespa Declines by Denyse Godoy/Bloomberg 11:14 AM BRT May 19, 2015 Goldman Sachs Group Inc.’s forecast that oil will tumble sank Petroleo Brasileiro SA, sending the Ibovespa to the biggest drop among major stock gauges in the Americas. Oil slid for a fifth day as the New York-based firm... Continue Reading →
Petrobras – Oil and Natural Gas Production on April
Petrobras - Oil and Natural Gas Production on April Rio de Janeiro, May 18th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that, on April 2015, its oil and natural gas production was 2 million 785 thousand oil equivalent per day (boed), in Brazil and abroad, 0.8% above the volume registered on March of the... Continue Reading →
