Petrobras' decision to settle four lawsuits over corruption allegations signals its willingness to negotiate deals in other civil cases but does not remove the threat of massive government penalties from U.S. and Brazilian investigations, legal experts said. The four settlements with large Petrobras shareholders, approved by the oil company's board on Friday, represent only a... Continue Reading →
Brazil’s police seek corruption charges against ex-finance minister
Brazil's federal police on Monday sought corruption charges against former finance minister and presidential chief of staff Antonio Palocci and accuse him of running a bribery scheme that funneled money to the former-ruling Workers Party's (PT). Police said in their investigation sent to federal prosecutors that Palocci conspired with construction firm Odebrecht SA [ODBES.UL] to... Continue Reading →
Petrobras – Approval of the Minority Shareholders Committee to monitor the revision process of the Transfer of Rights Agreement
Rio de Janeiro, October 24, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved the creation of a Minority Shareholders Committee to monitor the revision process of the Transfer of Rights Agreement. The Committee will be composed of two Board members elected by the minority shareholders, Mr Guilherme Affonso Ferreira... Continue Reading →
Petrobras and Total form a Strategic Alliance in Upstream and Downstream
Rio de Janeiro, October 24, 2016 – Petróleo Brasileiro S.A. – Petrobras and Total inform that Pedro Parente, CEO of Petrobras and Patrick Pouyanné, Chairman and CEO of Total are signing today, in Rio de Janeiro, a Memorandum of Understanding which sets the general framework for a Strategic Alliance covering Upstream and Downstream activities in... Continue Reading →
Petrobras signs strategic alliance with Total in the areas of Exploration and Production and Gas and Power
Oct. 24, 2016 Petrobras president, Pedro Parente, and the president of Total, Patrick POUYANNE, signed a memorandum of understanding to consolidate a strategic alliance in the segments of Exploration and Production (E & P) and Gas and Energy (G & E) in Brazil and potential opportunities abroad. From this memo, the companies are committed... Continue Reading →
Petrobras reaches agreement with investors to settle four individual securities actions in the United States
Rio de Janeiro, October 21, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, in a meeting held today, agreements to settle four individual securities actions brought before the US District Court for the Southern District of New York by PIMCO Total Return Fund, et al., Dodge & Cox International... Continue Reading →
Petrobras Raised by Moody’s on New Fuel Policy, Asset Sales
Petroleo Brasileiro SA was rewarded with its first rating upgrade in five years after it stepped up efforts to unload assets and began implementing a new fuel price policy. Petrobras, as the Rio de Janeiro-based oil company is known, had its rating raised one level to B2 by Moody’s Investors Service, which pointed to lower... Continue Reading →
BRIEF-Moody’s upgrades Petrobras’ ratings to B2, changes outlook to ‘stable’
Oct 21 Moody's: * Moody's upgrades Petrobras' ratings to B2; changes outlook to stable * Actions on Petrobras' ratings reflect improvements in company's liquidity profile and in regulatory framework in brazil over last few months * Petrobras' ratings have stable outlook; expect that, in next 12 to 18 months, company's liquidity and overall credit risk... Continue Reading →
Petrobras – New diesel and gasoline pricing policy
Click below for the Petrobras - New Diesel and Gasoline Pricing Policy Presentation. apresentacao-politica-de-precos-ing
Aker Solutions to Acquire Majority Stake in Brazil’s C.S.E.
October 21, 2016 - Aker Solutions agreed to buy 70 percent of Brazilian C.S.E. Mecânica e Instrumentação Ltda, building on a strategy to expand its services business in key international markets. The agreement includes an option to purchase the remaining 30 percent of the company three years after the expected close of the transaction... Continue Reading →
Brazil Energy Insight 