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Recent long-term offshore drilling contract awards might not fit with investors’ expectations, but it’s the expectations that are the problem, not the reality. Continue reading
Rio de Janeiro, May 21, 2019 - Petróleo Brasileiro S.A. – Petrobras informs that today it expressed interest to the National Council for Energy Policy (CNPE) to exercise the pre-emption right on the Transfer of Rights surplus bidding round under the production sharing regime, pursuant to Brazilian Law 12.351/2010 and Federal Decree 9.041/2017. The... Continue Reading →
Rio de Janeiro, May 21, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held yesterday, approved the nomination by the controlling shareholder of Mr. Nivio Ziviani to the position of member of the Company's Board of Directors . This nomination will be submitted to the deliberation of... Continue Reading →
Rio de Janeiro, May 21, 2019 – Petróleo Brasileiro S.A. - Petrobras informs that the Brazilian Securities and Exchange Commission (CVM) has approved the change of the custodian bank of its ADR programs for common and preferred shares, which will be the responsibility of Banco Bradesco S.A. The remaining characteristics of the ADR programs will... Continue Reading →
Rio de Janeiro, May 21, 2019 - Petróleo Brasileiro SA - Petrobras informs that its Board of Directors approved the execution of the Amendment to the Transfer of Rights Agreement pursuant to the National Council of Energy Policy, Resolution No. 5, of April 9, 2019. The amendment provides for the reimbursement of US$ 9.058 billion... Continue Reading →
Brazil’s President Jair Bolsonaro on Monday emphasized the importance of pension reform to Brazil’s economic progress, but a powerful lawmaker said the president’s failure to engage with Congress means the bill is still well short of the votes needed for it to pass. The comments to Reuters from Marcelo Ramos, chairman of the congressional committee... Continue Reading →
May 19, 2019 Locar V, owned by Locar, was partially shipwrecked on Saturday night, 18, while being towed from Itajaí (SC), bound for Espírito Santo, carrying two power generation modules from Petrobras' P-71 platform. The incident did not cause any casualties – the barge was being towed by TS Favorito, Tranship's tugboat. Petrobras confirms the... Continue Reading →
Restructuring debt, especially with local creditors, is focus after four years of Lava-Jato; much of the risk lies with local banks. 20/05/2019 The Odebrecht group faces the most difficult liquidity crisis since Operation Lava-Jato put it under the spotlight of anti-corruption actions in Brazil four years ago. The company needs a R$ 1 billion to... Continue Reading →
May 20, 2019 SBM Offshore reports that it has completed its EUR175 million share repurchase program. Between February 14, 2019 and May 20, 2019 a total of 10,422,259 common shares were repurchased, at an average price of EUR16.79 per share. Further detailed information regarding all individual transactions can be accessed via the Investor Relations Center... Continue Reading →
Offshore drilling company Vantage Drilling has said that a U.S. district court has affirmed a previously awarded international arbitration ruling in a drillship contract termination case between Vantage and Brazilian oil company Petrobras. As previously reported, an international arbitration tribunal in July 2018 ruled that Petrobras must pay $622.02 million plus interest to Vantage for... Continue Reading →
Brazil Energy Insight 