03/22/2016 Rio de Janeiro, March 22, 2016 – Petróleo Brasileiro S.A. – Petrobrás hereby responds to Official Letter 119/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 119/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Radar Online column, under the title: “TCU extends investigation on Petrobras’ headquarters in Vitória”, including the... Continue Reading →
Petrobras Clarification on News: Cash balance in 2016
03/22/2016 Rio de Janeiro, March 22, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 780/2016-SAE, which requests the following clarifications: Official Letter 780/2016-SAE “Dear Officer, In an article published by Agência Estado – Broadcast newspaper, in 03.22.2016, states, among other information, that: 1. Petrobras plans to end the year 2016 with... Continue Reading →
Petrobras Clarification of News Item: Lawyers’ Fees – Nestor Cerveró
03/21/2016 Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 117/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 117/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on March 15, 2016 in the electronic medium O Antagonista, entitled: Dida autorizou Petrobras a bancar advogado de Cerveró... Continue Reading →
Petrobras Clarification on News: Sale of Control of BR Distribuidora
03/21/2016 Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 118/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 118/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on March 18, 2016 in the electronic medium REUTERS BRASIL, entitled Petrobras considera abrir mão de controle da BR... Continue Reading →
The tarnished president should now resign
Brazil’s political crisis Time to go The tarnished president should now resign Mar 26th 2016 | From the print edition/Economist DILMA ROUSSEFF’S difficulties have been deepening for months. The massive scandal surrounding Petrobras, the state-controlled oil giant of which she was once chairman, has implicated some of the people closest to her. She presides over an economy... Continue Reading →
UPDATE 1-Petrobras reinventing itself after oil price drop -CFO
Brazil's state-controlled oil company Petrobras is being forced to turn itself into a smaller operation as crude prices have fallen more than expected, making it impossible to finance its once-ambitious plans, the company's chief financial officer said on Tuesday. CFO Ivan Monteiro made the comment on a conference call with investors a day after Petroleo... Continue Reading →
Halliburton-Baker Hughes Deal Runs Into Opposition From Total
Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was opposed by the world’s fifth-largest producer Tuesday, a day after being stalled by European regulators. Total SA Chief Executive Officer Patrick Pouyanne said Tuesday that the planned tie-up of the world’s second- and third-largest oil services providers is not good news for explorers and... Continue Reading →
Odebrecht Cooperation With Carwash Paves Way for Plea Bargains
Odebrecht SA has signaled its executives will seek a plea bargain in Brazil’s largest-ever corruption case, after its former chief executive officer was sentenced to 19 years in prison. In a statement entitled "Commitment to Brazil" posted on its website, the construction and engineering conglomerate says it decided in favor of a "definitive cooperation" with... Continue Reading →
Brazil Real Drops as Central Bank Moves to Weaken Currency
Brazil’s real dropped ahead of a central bank intervention to weaken the currency. The central bank will offer up to 20,000 foreign-exchange reverse swap contracts on Wednesday, equivalent to buying dollars in the futures market. It will also reduce rollover auctions to 2,500 contracts a day from 3,600 previously. The real lost 1.6 percent to... Continue Reading →
Petrobras Results Announcements
Presentation of webcast, 22/03/2016 4th Quarter 2015 and Fiscal year 2015 PBR 4th Q 2015 webcast presentation
Brazil Energy Insight 