Petrobras Supplier Schahin Seeking Brazil Bankruptcy Protection By Francisco Marcelino/Bloomberg 12:57 PM BRT April 17, 2015 Grupo Schahin filed for Brazil’s equivalent of Chapter 11, becoming the latest Petroleo Brasileiro SA contractor to seek protection from creditors as a corruption probe and a rout in oil prices limit access to funding. Schahin, which owns building... Continue Reading →
Petrobras – Oil and natural gas output for March
Petrobras - Oil and natural gas output for March Rio de Janeiro, April 16, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its oil and natural gas output in Brazil and abroad, in March 2015, was 2,764,000 barrels of oil equivalent per day (boed), down 1.3% from February 2015 (2,801,000 boed). Of this total,... Continue Reading →
UPDATE 1-Petrobras says has no plans to sell sub-salt oil fields
Wed Apr 15, 2015 8:48pm EDT UPDATE 1-Petrobras says has no plans to sell sub-salt oil fields (Recasts with Petrobras statement and context) (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday it has no plans to sell sub-salt oilfields in a divestment program aimed at shoring up its finances. Petrobras, as... Continue Reading →
For Petrobras CEO, It’s One Problem Down and Many More to Come
For Petrobras CEO, It’s One Problem Down and Many More to Come By Sabrina Valle Peter Millard/Bloomberg 12:00 AM BRT April 16, 2015 Photographer: Dado Galdieri/Bloomberg Petroleo Brasileiro SA’s new chief executive officer is close to overcoming his first major hurdle: getting auditors to approve financial results. His next big task will be figuring out... Continue Reading →
Petrobras shows corruption is now a high-stakes game in Brazil
http://www.ft.com/cms/s/0/2e2a58fe-de18-11e4-8d14-00144feab7de.html#ixzz3XOZamFwq April 15, 2015 3:10 pm Petrobras shows corruption is now a high-stakes game in Brazil Samantha Pearson/FT ©Reuters A protester dressed as Batman denounces the Petrobras affair in Brasília earlier this year In the 1980s, corruption in Brazil was a simple, albeit sweaty, affair. The first challenge for any executive entrusted with paying a bribe was... Continue Reading →
Petrobras may sell stakes in sub-salt blocks: paper
Wed Apr 15, 2015 7:57am EDT Petrobras may sell stakes in sub-salt blocks: paper SAO PAULO A view is seen of the Petrobras headquarters in Rio de Janeiro December 16, 2014. REUTERS/SERGIO MORAES (Reuters) - Brazil's Petrobras may include stakes in some sub-salt oil fields in an asset sale program aimed at reducing capital spending... Continue Reading →
Brazil probe of Petrobras seen spurring positive business agenda
Tue Apr 14, 2015 12:54pm EDT Brazil probe of Petrobras seen spurring positive business agenda SAO PAULO, APRIL 14 | BY GUILLERMO PARRA-BERNAL (Reuters) - A corruption probe at Brazil's state-run oil company Petrobras is likely to promote less government intervention and more transparency, economists and analysts said on Tuesday. The investigation could, however, also stir more... Continue Reading →
Petrobras – Clarification on News: Financial Statements Adjustment
Petrobras - Clarification on News: Financial Statements Adjustment Rio de Janeiro, April 14th, 2015 – Petróleo Brasileiro S.A. – Petrobras´ response to Official Letter/CVM/SEP/GEA-1/N.º 123/2015 that requests clarification as follows: OFFICIAL LETTER/CVM/SEP/GEA-1/N.º 123/2015 “In reference to news broadcasted on 04.11.2015 by the Brazilian Newspaper O Globo, under the headline“Petrobras: cost of corruption may reach R$... Continue Reading →
Petrobras takes steps to avert a technical default
http://www.ft.com/cms/s/0/e5deaa2a-e257-11e4-9995-00144feab7de.html#ixzz3XHeEAxFA April 14, 2015 5:21 am Petrobras takes steps to avert a technical default Joe Leahy in São Paulo Brazil’s embattled state-controlled oil company Petrobras said late on Monday that it expected to release its long-delayed audited financial results for 2014 as early as next Wednesday. The move would help Petrobras, which has been crippled by a political corruption... Continue Reading →
Petrobras Board to Review Delayed Financial Results April 22
Petrobras Board to Review Delayed Financial Results April 22 by Sabrina Valle/Bloomberg 10:01 PM BRT April 13, 2015 Petroleo Brasileiro SA plans to release long-delayed audited financial results after an April 22 board meeting, a move that would avert a potential acceleration of debt payments and reopen access to bond markets. The Rio de Janeiro-based oil... Continue Reading →
Brazil Energy Insight 