Petrobras - Divestment Plan U$13.7 billion to 2016 Rio de Janeiro, March 2, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its Executive Board, convened on February 26, 2015, has approved the company’s two-year (2015/2016) divestment plan. Divestitures total US$ 13.7 billion, and include Exploration & Production assets in Brazil and abroad (30%), as... Continue Reading →

Petrobras Jitters… March 2, 2015 The Petrobras corruption investigation will enter a new phase this week as the Attorney General of the republic will bring forth charges against politicians mentioned as being on the take during the investigation up to now. The list of politicians is vast, the list apparently reaches 39 including a former... Continue Reading →

Petrobras Likely to Get Government Support If Needed, Fitch Says By Filipe Pacheco Paula Sambo 5:09 PM BRT  February 27, 2015    (Bloomberg) -- Brazil will probably provide funding to Petroleo Brasileiro SA if the state-controlled oil producer remains unable to borrow from banks or sell bonds amid an ongoing corruption scandal, according to Fitch... Continue Reading →

Petrobras Credit Traders Signal Brazil Support Not Enough By Peter Millard Filipe Pacheco 9:35 PM BRT  February 26, 2015 (Bloomberg) -- As the fallout from a widening bribery probe plunges Petroleo Brasileiro SA into junk, derivatives traders are signaling that government support alone may not be enough to stave off more ratings cuts. Compared with... Continue Reading →

Brazil State Bank Petrobras Rescue Seen as Blow to Credibility By David Biller 3:41 PM BRT  February 26, 2015 (Bloomberg) -- State bank loans for Brazil’s beleaguered state-run oil producer would be a blow to the Finance Ministry’s efforts to shore up market confidence and avoid a sovereign downgrade, say analysts interviewed by Bloomberg. Brazil’s... Continue Reading →

Petrobras Seeks Funds as BofA Sees Need for Asset Sales By Peter Millard 10:08 AM BRT  February 26, 2015    (Bloomberg) -- Petroleo Brasileiro SA, the world’s most-indebted publicly traded oil company, said it’s seeking financing options and studying cost cuts following a downgrade to junk by Moody’s Investors Service. Petrobras, as Brazil’s state-run oil... Continue Reading →

Petrobras Rig Bust Threatens Rolls-Royce Deal: Corporate Brazil By Christiana Sciaudone Peter Millard 12:00 AM BRT  February 26, 2015 (Bloomberg) -- Rolls-Royce Plc and General Electric Co. are among oil-industry suppliers whose contracts in Brazil may be casualties of the spreading corruption scandal involving Petroleo Brasileiro SA. The two companies were set to make parts... Continue Reading →

Petrobras Junk Rating Pressures Brazil’s Levy to Deliver  By Raymond Colitt 2:17 PM BRT  February 25, 2015    (Bloomberg) -- Petrobras’s downgrade to junk credit rating is adding to pressure on Brazil’s new Finance Minister Joaquim Levy to deliver on spending cuts or risk a similar fate for Latin America’s largest economy. Moody’s Investors Service... Continue Reading →