Rio de Janeiro, September 5, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it has initiated the opportunity disclosure stage (Teasers) related to the sale process of 90% of its stake in Transportadora Associada de Gás S.A. ("TAG"), a wholly-owned Petrobras subsidiary. TAG is a company that operates in the natural gas transportation sector,... Continue Reading →
Emas Offshore eyes $50 million investment as part of restructuring
Offshore services provider Emas Offshore has started restructuring process in Singapore and entered into an agreement with potential investors who will put in $50 million into the company as part of its financial restructuring. The restructuring application was filed at the end of August. Read more
Petrobras – Reduction of Significant Shareholding Interest/BlackRock
Rio de Janeiro, September 4, 2017 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, informs that it was notified by BlackRock, Inc. ("BlackRock") that the latter has sold preferred shares issued by the company, and as of August 31, 2017 it manages shareholding interest... Continue Reading →
Approval of the amendment to the Bylaws of Petrobras Distribuidora and its corporate restructuring
Rio de Janeiro, September 5, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 8/25/2017, informs that the Shareholder’s General Meeting (SGM) of Petrobras Distribuidora S.A. (BR) approved in a meeting held on 8/31/2017, its corporate restructuring, as well as the amendment of its Bylaws. The main changes to the... Continue Reading →
Brazil’s inflation expected to hit new 18-year low despite recovery
Growing economic momentum in Brazil is not expected to have kept inflation from hitting a new 18-year low in August, a Reuters poll of economists showed on Monday. The IPCA consumer price index probably rose 2.60 percent in the 12 months through August, according to the median of 23 forecasts in the poll, compared with... Continue Reading →
Petrobras to initiate sale of Braskem
Petrobras has been working on a process, to start by the end of this year, for the sale of their participation in Braskem, the petrochemicals giant, as reported by the newspaper Valor Econômico on Monday. According to the newspaper, which cites unidentified sources, the business model will depend on a new shareholders agreement that has... Continue Reading →
Poll: Brazil to keep fast pace of rate cuts as recovery picks up
Brazil’s central bank will probably maintain a fast pace of interest rate cuts next week despite signs that an economic recovery is gaining traction, a Reuters poll showed on Friday. All but one of 30 economists surveyed expect the central bank to cut its benchmark Selic rate by 100 basis points for a fourth straight... Continue Reading →
Brazil’s Petrobras, China Development Bank sign cooperation deal
Brazil’s state-run oil company, Petroleo Brasileiro SA (PETR4.SA), entered a strategic agreement with China Development Bank [CHDB.UL] on Saturday that will allow it to explore opportunities on the Chinese financial market, Valor Economico newspaper reported. The memorandum, called a “wide-ranging strategic cooperation agreement,” was signed during a visit by Brazilian President Michel Temer, the newspaper... Continue Reading →
Brazil’s new 20 percent ethanol import tax rule takes effect
New rules governing Brazil’s ethanol imports, which slap a 20 percent penalty for volumes above a tax-free import quota, took effect on Friday, authorities said. Brazil’s foreign trade chamber Camex said in an official written resolution that the rules will be valid for two years. Read more
Brazil trade surplus sets August high, nears $50 billion in 2017
BRASILIA (Reuters) - Brazil’s trade surplus set a monthly record on August as commodity prices rose, contributing to a gradual economic recovery and a stable currency, official data showed on Friday. Brazil posted a trade surplus of $5.599 billion in August, the biggest for the month since the current data series began in 1989, the... Continue Reading →
Brazil Energy Insight 