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 →
Petrobras informs on change of the ADR programs custodian
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 →
Petrobras informs that its Board of Directors approved the Amendment to the Transfer of Rights Agreement
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 pension committee chief says gov’t still well short of pension reform votes
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 →
Barge with Petrobras platform P-71 modules shipwrecked in Santa Catarina
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 →
Odebrecht seeks to restructure debt of R$ 80 billion
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 →
SBM – Completion 2019 Share Repurchase Program
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 →
Vantage Drilling: Texas court affirms ruling against Petrobras
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 →
Divestment in Refineries – Opportunity for Free Competition
The Brazilian Energy Policy Council (CNPE) published on May 14, 2019 Resolution No. 9/2019 setting guidelines to boost free competition in Brazil’s refining activities. Such guidelines are the result of joint efforts from the Brazilian Petroleum, Natural Gas and Biofuels Agency (ANP) and the Administrative Economic Defense Council (CADE), whose main recommendation was the total sale... Continue Reading →
Eni adds acreage offshore Argentina to its portfolio
The Argentinian authorities have officially awarded the exploration license of offshore block MLO 124 to an Eni-led consortium. Eni said on Monday that the award is the outcome of the consortium’s successful bid in the International Bid Round “Ronda Costa Afuera n. 1” held on April 16, 2019. A total of 38 blocks were on... Continue Reading →
