Fri Apr 24, 2015 12:44 pm EDT UPDATE 2-Four Petrobras platforms halt output due to oil leak -union (Reuters) - Four Petrobras oil platforms off the northeast coast of Brazil have halted production after a leak of about 7,000 liters of oil was detected coming from a pipeline linking them, a local oil workers union... Continue Reading →
Petrobras puts chief’s pragmatism to test as woes mount
http://www.ft.com/cms/s/0/d9515292-ea7e-11e4-a701-00144feab7de.html#ixzz3YFVrrVnB WEEK IN REVIEW April 24, 2015 4:25 pm Petrobras puts chief’s pragmatism to test as woes mount Joe Leahy in São Paulo/FT ©Reuters Aldemir Bendine In an interview in 2009, Aldemir Bendine, then head of Banco do Brasil, Brazil’s biggest bank, was asked about his favourite piece of wisdom. “The pessimist complains about the wind;... Continue Reading →
Petrobras Hunts ‘Hidden Values’ for Potential Stock Sales
Petrobras Hunts ‘Hidden Values’ for Potential Stock Sales By Sabrina Valle / Bloomberg 11:31 AM BRT April 24, 2015 Petrobras, the world’s most indebted oil producer, may sell stakes in some assets via initial public offerings as part of a wider effort to boost cash levels and improve its financial health. “Our role here is... Continue Reading →
Petrobras struggles with losses as probe drags on
http://www.ft.com/cms/s/0/7324c094-e975-11e4-b863-00144feab7de.html#ixzz3YEdwiwE4 Last updated: April 23, 2015 5:57 pm Petrobras struggles with losses as probe drags on Joe Leahy and Samantha Pearson in São Paulo/FT ©Reuters Aldemir Bendin says Petrobras is not going to take the corruption scandal lying down For a tense period on Wednesday evening, those gathered for the press conference of Brazil’s corruption-plagued Petrobras began to... Continue Reading →
Brazil’s Petrobras board to review 1st-qtr results on May 15
Fri Apr 24, 2015 8:04 am EDT Brazil's Petrobras board to review 1st-qtr results on May 15 SAO PAULO The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER (Reuters) - Brazil's state-run oil producer Petroleo Brasileiro SA (PETR4.SA), known as Petrobras, said in a securities... Continue Reading →
Petrobras Bondholders’ Doomsday Scenario Averted With Earnings
Petrobras Bondholders’ Doomsday Scenario Averted With Earnings By Julia Leite Paula Sambo / Bloomberg 8:07 PM BRT April 23, 2015 For bond investors, the release of Petroleo Brasileiro SA’s audited earnings means a potential disaster was averted: a default with the potential to put billions of dollars of debt repayments in limbo. That still doesn’t... Continue Reading →
What’s Next for Petrobras May Be Tougher Than $17 Billion Loss
What’s Next for Petrobras May Be Tougher Than $17 Billion Loss By Anna Edgerton / Bloomberg 12:00 AM BRT April 24, 2015 Petrobras’s massive writedowns this week answer the question about the cost of its corruption and pose a much bigger one: whether the state-run driller can restore its role as Brazil’s economic anchor and... Continue Reading →
Petrobras Opens Door to 2015 Dollar Bond; Rules Out Share Sale
Petrobras Opens Door to 2015 Dollar Bond; Rules Out Share Sale By Sabrina Valle/ Bloomberg 3:30 PM BRT April 23, 2015 Petroleo Brasileiro SA could return to the dollar-bond market as soon as this year after a corruption scandal all but closed off credit markets to Brazil’s national oil company, Chief Financial Officer Ivan Monteiro... Continue Reading →
Petrobras: Still Working at the Car Wash
Petrobras: Still Working at the Car Wash The Brazilian oil major’s mammoth write off doesn’t address bigger challenges around its debt burden. A Petrobras refinery. The company’s delayed 2014 results included nearly $17 billion in write-downs. PHOTO: NELSON ALMEIDA/AGENCE FRANCE-PRESSE/GETTY IMAGES By LIAM DENNING/WSJ April 23, 2015 1:50 p.m. ET Petrobras is emerging from its car wash looking... Continue Reading →
Is Petrobras Out Of The Woods Yet?
4/23/2015 @ 1:52PM Is Petrobras Out Of The Woods Yet? Kenneth Rapoza/Forbes Petrobras is the little engine that could right now. Investors who bought when the guys on CNBC were telling you nobody is buying Petrobras are now up nearly 50% in just six weeks. Booyah! After months of waiting, we have earnings. They are bad. The company lost... Continue Reading →
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