Rio de Janeiro, January 26, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch has reaffirmed Petrobras’ global ratings at BB, with a negative outlook. Fitch points out in its report that the Company’s liquidity is currently supported by a robust cash position, stable cash flow generation and its ability to... Continue Reading →
Keppel Sees No Quick Recovery Despite Oil Gain; Shares Drop
Keppel Corp., the world’s biggest oil rig builder that eliminated more than 10,000 jobs last year, said even a doubling of crude prices is failing to offer relief to an industry slammed by overcapacity as it braced for a prolonged slowdown. While OPEC’s recent decision to cut output renewed optimism, with spending by some oil... Continue Reading →
Brazil’s Petrobras reduces diesel and gasoline prices at refineries
Jan 26 Brazil's state-run oil company Petroleo Brasileiro SA announced on Thursday it is reducing diesel and gasoline prices at refineries, reflecting the fall in international petroleum products prices and the appreciation of the local currency against the dollar. In a statement, Petrobras, as the company is known, said diesel prices will be reduced 5.1... Continue Reading →
U.S. judge approves Braskem $633 million fine in record corruption case
A U.S. judge on Thursday sentenced the Brazilian petrochemical company Braskem SA to pay a $632.6 million criminal fine, in connection with a corruption case that led to the largest foreign bribery settlement in U.S. history. Braskem had agreed to the penalty when it pleaded guilty on Dec. 21 to a conspiracy charge over a... Continue Reading →
Petrobras to receive R$81 million from Rolls-Royce leniency agreement
Petrobras will receive approximately R $ 81 million from the British company Rolls-Royce, which entered into a leniency agreement with the Federal Public Prosecutor's Office (MPF) under Operation Lava Jato. The agreement provides for the full return of the net profit obtained by the company in six contracts for the supply of goods and services... Continue Reading →
Petrobras responds to Dutch lawsuit
Offshore Energy Today zoom Petrobras has responded to a lawsuit filed in Dutch court by a group of international investors against the Brazilian oil company. Earlier this week, Petrobras’ subsidiaries, Petrobras International Braspetro B.V. and Petrobras Global Finance B.V., were mentioned in a legal action filed by Stichting Petrobras Compensation Foundation, in the Court of Rotterdam,... Continue Reading →
Oil Supermajors’ Debt From the Crude Collapse May Have Peaked
Surging debt dogged the world’s largest oil companies during crude’s collapse. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow. Since prices began to sink in 2014, the five “supermajors” more than doubled their combined net debt to $220 billion. That may be as bad as it gets. At... Continue Reading →
Petrobras investors offer $5.58 bln of bonds in buyback tender
Jan 26 Investors have offered to tender a combined $5.58 billion worth of dollar- and euro-denominated global bonds as part of Brazilian state-controlled oil company Petróleo Brasileiro's $6 billion bond buyback program. Petrobras got a combined $4.89 billion worth of dollar-denominated bonds tendered and another 651 million euros ($698 million) in buyback offers from... Continue Reading →
Former Billionaire Batista Sought by Brazil Police in Graft Case
Former billionaire Eike Batista became one of the targets of a police investigation into money laundering in the state of Rio de Janeiro, signaling Brazil’s largest corruption probe continues to expand. Brazil’s federal police was serving nine preventative arrest orders and several search warrants Thursday morning as part of an investigation into a money laundering... Continue Reading →
Petrobas Minority Shareholders Committee Internal Regulations Approval
Rio de Janeiro, January 24, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved the Minority Shareholders Committee Internal Regulations in a meeting held today, to govern this committee’s composition and operation as well as the relationship between the committee and other bodies within the company. As disclosed to the... Continue Reading →
