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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 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 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 →
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 →
Shell Sees Petrobras Emerging Stronger From Corruption Scandal By Mario Sergio Lima Rachel Gamarski /Bloomberg 1:07 PM BRT April 23, 2015 Royal Dutch Shell Plc, poised to become Brazil’s biggest oil producer after Petroleo Brasileiro SA, said the state-run driller will emerge strengthened from a corruption scandal and the industry’s biggest debt load. Speaking to... Continue Reading →
Brazil’s Alleged Petrobras Corruption Not Widespread, Witness Testifies Losses related to alleged scheme and overvalued assets reported in company’s 2014 earnings By ROGERIO JELMAYER And JEFFREY T. LEWIS / WSJ April 23, 2015 12:10 p.m. ET SÃO PAULO—The alleged corruption scheme at Brazil’s state-controlled oil company,Petroleo Brasileiro SA, was limited to three top executives and... Continue Reading →
Thu Apr 23, 2015 11:09am EDT UPDATE 1-Shares in Brazil's Petrobras slide after $17 bln charge (Adds quotes and background) (Reuters) - Shares in Brazil's state-run oil company Petrobras fell 5 percent on Thursday, a day after it reported the largest loss ever on $17 billion in charges, giving investors a deeper look at the... Continue Reading →
Petrobras Earnings Report Spurs Bond Rally as Stock Price Falls By Ney Hayashi Cruz Paula Sambo / Bloomberg 12:11 PM BRT April 23, 2015 Petroleo Brasileiro SA’s report of a record loss, which sent the company’s shares into a swoon, has heartened bondholders who feared a prolonged delay of audited results might trigger a technical... Continue Reading →
Corruption Scandal Leads to a Big Loss for Petrobras By THE ASSOCIATED PRESS APRIL 22, 2015 RIO DE JANEIRO — Brazil’s state-run oil company Petrobras said Wednesday that it lost $2.1 billion in an eight-year kickback scheme that saw the firm’s executives taking bribes for awarding inflated contracts to suppliers. The company released its long-delayed fourth-quarter... Continue Reading →
Rio de Janeiro, April 22nd, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter nº 139/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter nº 139/2015/CVM/SEP/GEA-1 “In reference to news released on 04.19.2015 in the newspaper O Globo entitled: “Billionaire and Covered Up Expenses on COMPERJ”, containing the following statements: “According to the Brazilian... Continue Reading →
