Rio de Janeiro, February 27, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on July 28, 2017 and press release disclosed on October 4, 2017, informs the start of the binding phase regarding the assignment of all of its exploration, development and production rights in Enchova and Pampo Clusters, located... Continue Reading →
Fitch Ratings reviews Petrobras’ risk rating
Rio de Janeiro, February 27, 2018 - Petróleo Brasileiro SA - Petrobras informs that Fitch Ratings reviewed the company's corporate debt rating from BB, with a negative outlook, to BB-, with a stable outlook. This revision is due to the downgrading of the sovereign risk level, announced by the agency on 02/23/2018.
Fitch cuts Brazil rating, cites failure to vote on pension reform
Fitch Ratings cut Brazil’s credit rating further into junk territory on Friday, saying the country’s failure to put a social security overhaul to a vote undermines public finances. The cut to BB-minus from BB, with a stable outlook, mirrors rival rating agency S&P’s downgrade in January. Read more
Exxon finds more oil offshore Guyana
U.S. oil major ExxonMobil has made another oil discovery in the Stabroek block, offshore Guyana. News of the discovery at the Pecora-1 well using the Stena Carron drillship was confirmed both by the country’s Minister of Natural Resources Raphael Trotman, and by Exxon, albeit via a social media post. Read more
ONGC Videsh and GeoPark Announce Strategic Latin American Acquisition Partnership
ONGC Videsh, the wholly-owned subsidiary and international arm of Oil and Natural Gas Corporation Limited (ONGC), India’s national oil company, and GeoPark, the Latin American oil and gas explorer, operator and consolidator, are pleased to announce the formation of a new long-term strategic partnership to jointly acquire, invest in, and create value from upstream oil... Continue Reading →
New command in Petrobras Subsea and Reservoir Management
February 27, 2018 The engineer Felipe Matoso is the new executive manager of Subsea Systems of Petrobras. Matoso, who was the general manager of Subsea Engineering, temporarily replaced Cristina Pinho, who recently retired. Petrobras also officially appointed Antônio Carlos Capeleiro Pinto as the first executive manager of the company's newly created Reservoir Management,... Continue Reading →
Petrobras announces the Settlement of the Early Redemption of Series of Notes maturing in 2019
Rio de Janeiro, Brazil – February 26, 2018 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), further to the announcement released in February 22, 2018, has concluded the redemption of its USD 3.000% Global Notes due 2019, EUR 3.25% Global Notes due 2019 and... Continue Reading →
Who has been declared ineligible by the TCU?
February 27, 2018 The Plenary of the Court of Auditors of the Union (TCU) declared the ineligibility of MPE Montajes e Projetos Especiais (MPE). With the decision, the company is prohibited from contracting with the federal public service for three years. MPE had contracts with several areas of Petrobras, ranging from maintenance of platforms to... Continue Reading →
Likely centrist Brazil presidential contender says he would sell Petrobras
The governor of Sao Paulo and likely centrist presidential candidate Geraldo Alckmin said on Monday that he would privatize Brazil’s state-run oil company Petroleo Brasileiro SA if he wins the elections in October. Read more
More bondholders support Seadrill’s restructuring
Offshore driller Seadrill has managed to reach a global settlement with an ad hoc group of bondholders, the official committee of unsecured creditors, and other major creditors in its chapter 11 cases. According to Seadrill, some 70% of the company’s bondholders by principal amount have now signed an agreement to support Seadrill’s restructuring. To remind, the... Continue Reading →
Brazil Energy Insight 