Petrobras - Notices and Facts New well confirms light oil potential in Carcará area at Santos Basin “pre-salt” Rio de Janeiro, May 29, 2015 – Petrobras informs that the drilling of the second well in Carcará area (Block BM-S-8), located at Santos Basin´s ultra-deep waters, confirmed the light oil potential in pre-salt’s reservoirs. The well... Continue Reading →
Petrobras – Clarification on News: Asset Sales
Petrobras - Clarification on News: Asset Sales Rio de Janeiro, May 28, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER BM&FBovespa 2.072/2015-SAE, which requests the following clarification: OFFICIAL LETTER BM&FBovespa 2.072/2015-SAE “We request immediate clarification by March 29, 2015 at 9 a.m. regarding the content of news released by Valor Econômico on... Continue Reading →
Workers’ Union – Petrobras pays 2014 bonus despite record loss and canceled dividends
May 28, 2015 Workers' Union-Petrobras pays 2014 bonus despite record loss and canceled dividends Petroleo Brasileiro SA, - Petrobras, will pay employees 1.04 billion reais ($331 million) in bonuses for 2014 despite recording its largest-ever loss and rejecting investor dividends. The bonus, known as "a share in results", will be paid to the workers and... Continue Reading →
Petrobras scandal: Former International Director gets 5 year prison term for money laundering
Nestor Cevero, former Petrobras International Division Director, was convicted to a 5 year prison term for money laundering. So far, three Petrobras Directors and an Executive Manager have been imprisoned due to the corruption investigations plaguing Petrobras.
UPDATE 1-Brazil’s current account gap widens to $6.9 bln in April
Tue May 26, 2015 10:15am EDT UPDATE 1-Brazil's current account gap widens to $6.9 bln in April May 26 (Reuters) - Brazil's current account deficit grew more than expected in April, exceeding the net inflow of investments from abroad into Latin America's largest economy, central bank data showed on Tuesday. Brazil's current account gap widened... Continue Reading →
Petrobras supplier Lupatech files for creditor protection, again
Lupatech announced that it has filed for a judicial reorganization, creditor protection, for all the companies in the Group. Besides the holding, it includes: Lupatech Finance Ltd., Amper Amazonas Perfurações; Itacau Agenciamentos Maritimos, Lochness Participações; Lupatech Equipamentos e Serviços para Petroleo, Lupatech Perfuração e Completação, Matep Maquinas e Equipamentos, Mipel Ind. e Com. de Valvulas,... Continue Reading →
Petrobras Briefs
Petrobras confirms in shareholders meeting last night that the company will not distribute dividends to both ordinary and preferred shareholders. Preferred shareholders are contesting this measure. Petrobras confirms that is has cancelled offshore rig contracts with Schahin Oil and Gas for breach of contract. No other information is available at this time. Evan Sponagle 26/05/2015
Petrobras to divest of five groups of assets, including the pre-salt areas
Petrobras to divest of five groups of assets, including the pre-salt areas Evan Sponagle 25/05/2015 Within its plan to sell assets to reduce the heavy debt, Petrobras announced a goal of raising $ 13.7 billion from the sale of assets, according to local market sources. . One of the most valuable assets in the package for... Continue Reading →
Brazil to cut R$70 bln or U$23 bln in spending to meet fiscal target
Fri May 22, 2015 Brazil to cut R$70 bln or U$23 bln in spending to meet fiscal target May 22 The Brazilian government will freeze around 70 billion reais ($23.02 billion) in spending this year, as part of the austerity program. The cut is in line with expectations and signals greater commitment to austerity as... Continue Reading →
Petrobras Informs – Reversal of allowance for impairment of trade receivables
Petrobras Informs - Reversal of allowance for impairment of trade receivables Rio de Janeiro, May 20, 2015 - Petróleo Brasileiro SA - Petrobras informs that it has provisioned, in its 2014 Financial Statements, an allowance for impairment of trade receivables to cover uncollateralized receivables. In the 1st quarter 2015 financial statements, as disclosed in the... Continue Reading →
Brazil Energy Insight 