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 →
Odebrecht seeks to accelerate agreements in Latin America to sell assets
Odebrecht wants to negotiate fines and leniency agreements related to corruption investigations with several Latin American countries by June, which would help the Brazilian engineering conglomerate avoid a mid-term negotiations throughout the region that could delay the planned sales of assets, two sources familiar with the matter said. According to these sources, Odebrecht expects to... Continue Reading →
PetroquímicaSuape and Citepe Sale Process
Rio de Janeiro, February 22, 2017 – Petróleo Brasileiro S.A. – Petrobras, in addition to the material fact disclosed on January 31, 2017, informs that a Regional Federal Court issued a decision today to grant suspensive effect to Petrobras' appeal in the divestment project regarding the sale of Companhia Petroquímica de Pernambuco (“PetroquímicaSuape”) and Companhia... Continue Reading →
Ecovix shipyard launches its anchor to the sea
Ecovix will present its judicial recovery plan until the first week of March. The main proposal will be the sale of part of the capital of the shipyard, controlled by Engevix. Everything will depend on Petrobras and whether or not will resume the order of two hulls for platform ships, a contract in the order... Continue Reading →
Brazil Says Reforms Needed to Push Rate Cuts Into Overdrive
Brazil’s central bank kept its swift pace of interest rate cuts and signaled that any acceleration would require further progress in efforts to control government spending. The central bank board, led by President Ilan Goldfajn, on Wednesday lowered the benchmark Selic by 75 basis points for the second straight meeting to 12.25 percent, as... Continue Reading →
Brazil Lowers Local Content Rules For Oil Industry
Reuters Thursday, February 23, 2017 Brazil’s government said on Feb. 22 it would relax local purchasing rules for the oil industry as of September in an effort to attract foreign investment and lower costs that have hindered development of vast offshore reserves. Mines and Energy Minister Fernando Coelho said the requirement that oil companies operating... Continue Reading →
Brazil Energy Insight 