House Arrest for Brazil Executives Seen as Blow to Graft Probe By David Biller Anna Edgerton / Bloomberg 4:05 PM BRT April 29, 2015 A decision by Brazil’s Supreme Court to free executives accused of involvement in a kickback scheme at state-run oil producer Petroleo Brasileiro SA is likely to slow down the investigation into... Continue Reading →
Petrobras – Notices and Facts
Petrobras - Notices and Facts Conclusion of the third well in the Moita Bonita Area, at Sergipe´s Basin Rio de Janeiro, April 29th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces the conclusion of the well drilling 3-BRSA-1296-SES (ANP nomenclature) in Sergipe Basin´s ultra-deep waters, in concession BM-SEAL-10, block SEAL-M-499. The test results confirmed the... Continue Reading →
Three Petrobras Board Members Criticize 2014 Earnings Calculations
Three Petrobras Board Members Criticize 2014 Earnings Calculations Last week’s earnings report included write-downs related to a massive graft scandal at the oil company By PAUL KIERNAN/WSJ April 28, 2015 5:09 p.m. ET RIO DE JANEIRO—Three independent members of the board of directors of Brazil’s state-run Petróleo Brasileiro SA strongly criticized the company’s calculations of its 2014 financial results... Continue Reading →
Petrobras CEO: Asset Sales Won’t Reduce Debt Enough
Petrobras CEO: Asset Sales Won’t Reduce Debt Enough Company says it will have to strengthen governance to mitigate corruption risks Petrobras CEO Aldemir Bendine speaks during the presentation of the company’s audited 2014 financial results last week. Mr. Bendine on Tuesday said Petrobras’ asset-sale plan isn’t enough to reduce its debt to a desirable level. PHOTO: ANTONIO... Continue Reading →
Petrobras Bets on Iron-Ore Boss to Lead Board as Debt Mounts
Petrobras Bets on Iron-Ore Boss to Lead Board as Debt Mounts By Juan Pablo Spinetto/Bloomberg 6:55 AM BRT April 29, 2015 If guiding the biggest iron-ore miner through the worst price rout in a decade wasn’t enough, Murilo Ferreira is about to take on a new job. And it’s not just any job. On Wednesday,... Continue Reading →
Petrobras writedown may give new ammunition to class-action suit
Tue Apr 28, 2015 7:14 am EDT Petrobras writedown may give new ammunition to class-action suit WILMINGTON, DELAWARE | BY TOM HALS AND NOELEEN WALDER (Reuters) - Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for... Continue Reading →
Singapore rig builders feel impact of oil price slide
http://www.ft.com/cms/s/0/2e9914fe-e35b-11e4-9a82-00144feab7de.html#ixzz3YbUcpUZ7 April 28, 2015 5:37 am Singapore rig builders feel impact of oil price slide Henny Sender/FT ©Bloomberg Problems in the Brazilian and Mexican oil industries unleashed by the plunge in crude prices have ensnared two pillars of Singapore Inc — rig builders Keppel Corporation and Sembcorp Industries — and through them Temasek, the state investment fund that is... Continue Reading →
CORRECTED-Petrobras says non-government board member Monforte resigns
Mon Apr 27, 2015 4:20pm EDT CORRECTED-Petrobras says non-government board member Monforte resigns (Reuters) - Jose Guimarães Monforte quit the board of directors of Petroleo Brasileiro SA on Friday, and a source on the board said two days earlier he had abstained from voting to approve the company's audited financial statements. Petrobras, as the company... Continue Reading →
Petrobras (PBR.A) Stock Falls Today on Morgan Stanley Downgrade
Petrobras (PBR.A) Stock Falls Today on Morgan Stanley Downgrade By Andrew Meola|04/27/15 - 10:53 AM EDT NEW YORK (TheStreet) -- Shares of Petrobras fell 2.24% to $8.71 in morning trading Monday after Morgan Stanley downgraded the Brazilian state-owned energy company to "underweight" from "equal weight" and reduced its price target to $8.50. The firm said the company's debt level... Continue Reading →
Petrobras overhaul calls for much more than corruption clean-up
Fri Apr 24, 2015 6:25pm EDT Petrobras overhaul calls for much more than corruption clean-up RIO DE JANEIRO | BY JEB BLOUNT A tower with a Brazilian flag representing an oil rig is pictured during a protest in front of the Petrobras headquarters in Rio de Janeiro REUTERS/SERGIO MORAES (Reuters) - Petrobras' decision to take a massive... Continue Reading →
