Rio de Janeiro, April 04, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 140/2016/CVM/SEP/GEA-1 requesting clarifications, as transcribed below: Official Letter 140/2016/CVM/SEP/GEA-1 “Dear Executive Officer, We present clarifications about the news item published today on the O Estado de São Paulo newspaper, Seção Economia (Economy Section), under the title: “China conditions... Continue Reading →
Petrobras – Clarification of News Item: Reduction in Fuel Prices
Rio de Janeiro, April 4, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 144/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 144/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Economy (Economy) section of the newspaper O Globo, entitled Conselho da Petrobras reage à redução de preços”... Continue Reading →
Brazil impeachment battle rests on a handful of votes
Anti-government demonstrators attend a protest against Brazil's President Dilma Rousseff in downtown of Rio de Janeiro, Brazil, April 4, 2016. REUTERS/PILAR OLIVARES With neither side commanding enough firm support in the battle to impeach Brazil's President Dilma Rousseff, the outcome of a crucial vote in Congress this month may boil down to a... Continue Reading →
Petrobras sought arbitration for Sete Brasil talks
State-controlled Petróleo Brasileiro SA unsuccesfully sought the appointment of arbiters to rework a long-term contract with debt-laden drilling rig leaser Sete Brasil Participações SA, according to three sources with knowledge of the situation. The proposal, made in recent weeks, called on each party to name three mediators to rework the contract, said the sources, who... Continue Reading →
Brazil’s Odebrecht hopes to renegotiate $9.83 billion in debt
A sign of the Odebrecht SA construction conglomerate is pictured in Rio de Janeiro, Brazil, February 26, 2016. REUTERS/RICARDO MORAES Odebrecht SA, Latin America's largest engineering company, hopes to renegotiate as much as 35 billion reais ($9.83 billion) in debt with Brazilian banks in order to get through a financial crisis sparked by its involvement... Continue Reading →
Brazil politicians linked to offshore companies in Panama leaks
Politicians from seven parties in Brazil were named as clients of a Panama-based firm at the center of a massive data leak over possible tax evasion, O Estado de S.Paulo said on Monday. The newspaper was one of more than 100 other news organizations around the globe to publish this weekend details of more than... Continue Reading →
New Voluntary Severance Incentive Program – 2016 PIDV
04/01/2016 Rio de Janeiro, April 1, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Executive Board has approved a Voluntary Severance Incentive Program – 2016 PIDV, open to all employees. The aim of the Program is to adjust the size of the workforce to the needs of the Business and Management Plan... Continue Reading →
Brazil’s Petrobras could lower gasoline, diesel prices Monday: paper
Apr 3, 2016 A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil in this September 30, 2015, file photo. REUTERS/UESLEI MARCELINO/FILES Brazil's state-run fuel company Petroleo Brasileiro SA could cut gasoline and diesel prices on Monday, according to a newspaper report Sunday, reversing hikes last year meant to help the... Continue Reading →
Dilma Rousseff, Brazil’s warrior president under fire
FT The country’s first woman leader is facing the fight of her political life, writes Joe Leahy © Getty by: Joe Leahy The police telephone wire recording that may well cost Brazilian president Dilma Rousseff her job lasts only 30 seconds. “Hello?” It is the gruff voice of Luiz Inácio Lula da Silva, her predecessor.... Continue Reading →
Petrobras’s Best-in-the-World Stock Rally Comes With Some Risks
Petroleo Brasileiro SA, Brazil’s state-run oil giant, surged 81 percent in dollar terms in March, the biggest gain among the world’s 1,000 biggest companies. The rally masks trouble under the hood that may derail the winning streak. Here’s the rub: The embattled crude producer hasn’t undergone any fundamental improvements. Instead, the gains have been fueled... Continue Reading →
Brazil Energy Insight 