Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors, in a meeting held today, approved the extension of the term of office of board member Luiz Nelson Guedes de Carvalho as Chairman of the Board of Directors until the next Annual Shareholders’ Meeting. As previously... Continue Reading →
Petrobras – Clarification of News Item:Testimony before the Internal Investigation Commission – Complement
Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – hereby responds to Official Letter 62/2016-CVM/SEP/GEA-1 which requests the following clarifications: Official Letter 62/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the clarifications provided in the Notice to the Market of February 18, 2016 disclosed in response to the requests in Official Letter 049/2016/CVM/SEP/GEA-1, related to... Continue Reading →
Petrobras – Term Sheet signed with CDB
Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro SA – Petrobras informs that it has today signed a Term Sheet with the China Development Bank (CDB), for financing of US$10 billion. The document contains the main terms and conditions of the operation and was signed by the President of Petrobras, Aldemir Bendine, and the... Continue Reading →
Brazil police expand corruption probe to railway contracts
Brazilian police said they launched a probe into bribes and overbilling in two large railway contracts, serving search and seizure warrants on Friday in six states and the capital Brasilia. Prosecutors said the operation was based on testimony from plea and leniency deals with construction firm Camargo Correa SA in an ongoing corruption probe into... Continue Reading →
Arrest of Brazil’s ‘maker of presidents’ could unmake Rousseff
Brazilian political strategist Joao Santana earned his nickname 'the maker of presidents' by guiding leftist leaders to power in Latin America and Africa, but his arrest this week could unmake his most important client, President Dilma Rousseff. A member of Rousseff's inner circle who masterminded her two successful election campaigns, Santana is accused by prosecutors... Continue Reading →
U.S. becomes net natgas exporter for a day with sale to Brazil
The United States turned into a net natural gas exporter for a day after the first liquefied natural gas export from Cheniere Energy Inc's Sabine Pass terminal in Louisiana left for Brazil on Wednesday. The United States however is not expected to become a net exporter of gas on an annual basis until 2017 after... Continue Reading →
Bill to Open Brazil’s Offshore Oil Fields to Foreigners Still Faces Fierce Opposition
Despite Senate vote, opponents consider measure an affront to nation’s control of natural resource By WILL CONNORS and PAULO TREVISANI/WSJ Feb. 25, 2016 RIO DE JANEIRO—Legislation to open coveted offshore oil fields in Brazil to foreign players took a major step forward this week, but still faces fierce resistance from opponents who consider the measure... Continue Reading →
Petrobras – Sale of assets
02/26/2016 Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras, concerning the news items published in the media regarding the sale of its assets of Nova Transportadora do Sudeste (NTS), hereby announces that it began negotiations for the sale of this company. Nevertheless, until now, there are no deals signed securing the... Continue Reading →
Exxon’s Downgrade Threats Mount as Oil Rebound Prospects Dim
Exxon Mobil Corp. may lose its top-notch credit rating from Moody’s Investors Service as the oil-market collapse imperils cash flow needed to cover debt payments and investment in new discoveries. Seven of the other largest U.S. energy explorers also were put on notice or downgraded by Moody’s Thursday after the rating company concluded crude prices will... Continue Reading →
Fluor Consortium Delivers Natural Gas Development Project in Brazil
Project completed safely, on time and on budget The Gavião Branco facility in the state of Maranhão, Brazil (Photo: Business Wire) February 25, 2016 IRVING, Texas & SÃO PAULO--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that its consortium has met substantial completion on the Gavião Branco facility in the state of Maranhão, Brazil, turning it... Continue Reading →
Brazil Energy Insight 