Rio de Janeiro, Paris, March 1st, 2017 – Petrobras and Total inform that they have signed yesterday definitive contracts in relation to the package of assets contemplated in the Strategic Alliance, as defined in the 21st of December,2016 Agreement. The contracts signed yesterday seal the Strategic Alliance between the two companies creating new partnerships in... Continue Reading →
BP Targets $40 Break-Even Oil Price to Reassure Investors
BP Plc said it will need a crude price of about $40 a barrel in 2021 to cover spending and dividends, down from $60 this year, as Chief Executive Officer Bob Dudley seeks to reassure investors on the oil major’s growth outlook and finances. The break-even level will fall as BP keeps capital spending at... Continue Reading →
Mexico’s Pemex sharply reduces losses as oil prices rise
Mexican state-owned oil company Pemex on Monday reported a much smaller fourth-quarter loss, due in large part to higher crude prices. The loss narrowed to $1.58 billion (32.6 billion pesos) from $9.8 billion a year earlier. "Pemex's finances are today stable with positive trends; however, we believe there is certainly room for improvement," Chief Financial... Continue Reading →
Petrobras approves settlements with investors to end four individual lawsuits in the US
Rio de Janeiro, February 24, 2017 - Petróleo Brasileiro SA - Petrobras informs that its Board of Directors approved today the conclusion of settlements to end four individual lawsuits filed before the Federal Court of New York, USA, by New York City Employees Retirement System (and others), Transamerica Income Shares, Inc. (and others), Internationale Kapitalanlagegesellschaft... Continue Reading →
Brazil’s worst-ever recession likely extended into fourth quarter
Brazil's economy probably contracted for an eighth straight quarter at the end of 2016, offering further proof that Latin America's largest economy has been in its worst recession ever, a Reuters poll showed on Friday. Gross domestic product probably shrank 0.4 percent in the fourth quarter from the third after seasonal adjustments, according to the... Continue Reading →
Incorporation of Nova Fronteira by São Martinho S.A. concluded
Rio de Janeiro, February 23, 2017 - Petróleo Brasileiro S.A. - Petrobras, in addition to material fact of 12/15/2016, announces that its wholly owned subsidiary Petrobras Biocombustível S.A. ("PBIO") concluded today the incorporation of the Nova Fronteira by São Martinho S.A. The operation was completed with the receipt, by PBIO, of 24 million new ordinary... Continue Reading →
PETROBRAS Disclosure of Relevant Shareholding Position
Rio de Janeiro, February 24, 2017 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, reports that it was notified by BlackRock, Inc. ("BlackRock") that the latter has acquired preferred shares issued by the company and as of February 22, 2017 it manages share interests... Continue Reading →
Brazil police target Rio money laundering in corruption probe
Feb 23 Brazilian police made two arrests and carried out 15 search warrants in the state of Rio de Janeiro on Thursday in the latest phase of a sweeping investigation into corruption at state-run oil company Petroleo Brasileiro SA. Federal police said in a statement the principal target of the day's operation were two alleged... Continue Reading →
Sale of refineries in Petrobras radar
Petrobras board members are warming up to include the refining area in the divestment plan of the company’s assets. Among the sympathizers of the idea is the president of Petrobras, Pedro Parente, and CFI, Ivan Monteiro. The latter certainly stimulated by the impact the inclusion would have in reducing company debt and in the... Continue Reading →
Petrobras suspends charter payments for ‘Arendal Spirit’
zoomArendal Spirit at the Campos basin; Image source: Teekay Brazilian oil company Petrobras has suspended charter payments for the Arendal Spirit flotel, owned by Teekay Offshore Partners. This was revealed by Teekay on Thursday in its financial report. Teekay said the Arendal Spirit experienced an operational incident relating to its dynamic-positioning system in November 2016.... Continue Reading →
Brazil Energy Insight 