Petroleo Brasileiro SA is looking to fight back the junk debt ratings that have made its borrowing costs balloon. The oil industry’s most indebted major producer is studying ways to borrow against future crude exports as part of an effort to cut its dependency on international capital markets, Chief Financial Officer Ivan Monteiro said during a... Continue Reading →
Petrobras Webcast Presentation 3Q, 2015
Friday 13, 2015 English presentation of the Petrobras Webcast 3Q, 2015 Webcast-3T15-Ingles
Brazil Real Extends Drop as Speculation Heats Up Levy Is Leaving
Newspaper Valor Economico’s real-time news service reported that Rousseff has not yet decided on a replacement for Levy, and there is no set date for his exit. The new minister would not be totally autonomous, the news report says without disclosing how it got the information. The currency also declined as slowing credit growth in... Continue Reading →
Petrobras – Appointment of New Head Ombudsma
11/13/2015 Rio de Janeiro, November 13, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that, its Board of Directors approved the appointment of Mário Vinícius Claussen Spinelli as the Company’s new Ombudsman General. As disclosed on May 15, 2015, the Company approved the restructuring of the Ombudsman General’s Office, including the appointment of a... Continue Reading →
IEA Says Record 3 Billion-Barrel Oil Stocks May Deepen Rout
Oil stockpiles have swollen to a record of almost 3 billion barrels because of strong production in OPEC and elsewhere, potentially deepening the rout in prices, according to the International Energy Agency. This “massive cushion has inflated” on record supplies from Iraq, Russia and Saudi Arabia, even as world fuel demand grows at the fastest pace... Continue Reading →
UPDATE 2-Brazil oil strikers say Petrobras offer lacking, seek meeting
Nov 13 Leaders of Brazil's main oilworkers' union said on Thursday that a contract offer from Petrobras falls short of their demands and sought a meeting with the company's chief executive officer to discuss their requests. Meanwhile the 12-day strike will go on, said FUP, as Brazil's largest oilworkers union federation is known, in a... Continue Reading →
Petrobras Hits the Road to Find `Strategic’ Buyers in Sale Drive
Petroleo Brasileiro SA will start a road show next week to talk to investors and find “strategic partners” for its Brazilian operations as part of an effort to reduce the biggest debt load in the oil industry, Chief Financial Officer Ivan Monteiro said Thursday. Executives will travel to countries including the U.S., China, Mexico, Canada... Continue Reading →
Petrobras – 3Q 2015 Results
Rio de Janeiro – November 12, 2015 - THIRD QUARTER OF 2015 RESULTS - Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese). . Net income was R$ 2,102... Continue Reading →
Petrobras – Commercial Viability of the Sépia Leste area, in the pre-salt layer of the Santos Basin
11/12/2015 Rio de Janeiro, November 12, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that filed today with the National Oil, Natural Gas and Biofuels Agency (ANP) the Declaration of Commercial of the oil accumulation in northwest of the Júpiter Discovery Evaluation Plan (PAD) – Block BM-S-24 – in the pre-salt layer of the Santos... Continue Reading →
Petrobras Loss Narrows as High Local Fuel Price Offsets Oil Rout
Petroleo Brasileiro SA said its net loss narrowed in the third quarter as higher domestic fuel prices softened the blow from a global energy slump. The net loss of 3.8 billion reais compared with a loss of 5.3 billion reais a year earlier, the state-controlled Rio de Janeiro-based oil producer, known as Petrobras, said Thursday. Read... Continue Reading →
Brazil Energy Insight 