Sunday, October 22, 2017

Petrobras News

Petrobras to Evaluate Court Edict on Total Deal

State-controlled oil company Petróleo Brasileiro SA on Wednesday said it has not been formally informed about a court decision to block part of its $2.2 billion deal with Total SA. A federal judge in the Northeast state of Sergipe blocked the sale to the French…

Petrobras Kicks off Non-binding Stage of Oil Fields Sale

Brazilian state-controlled oil company Petróleo Brasileiro SA has sent additional information on several shallow water oil fields to interested parties as it kickstarts the non-binding stage of the asset-sale process, according to a securities filing on Wednesday.

Excision of Gaspetro

Participation in Distribution Courtesy  Gaspetro3

Petrobras announces that its Board of Directors at a meeting held today, aprobola split of Petrobras Gás SA (Gaspetro). This split aims to segregate the assets and liabilities related to the business of distribution of natural gas from the other assets and liabilities of the company…

Petrobras Faces $1.6 Billion in Graft Penalties

U.S. Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. State-run Petroleo Brasileiro SA…

Petrobras Fetches $490 mln with Gas Unit Stake to Mitsui

Petrobras

State-controlled Petróleo Brasileiro SA's board approved selling a minority stake in a natural gas distribution unit to Japan's Mitsui & Co Ltd for 1.9 billion reais ($490 million) in a key step toward disposing of non-essential assets to repay debt. Petrobras…

Brazil Fuel Prices Face Little Pressure from Cheap Imports

Brazil's gasoline and diesel prices, which are well above international levels thanks to plunging world crude costs, face little pressure from imports thanks to limited storage and transport capacity and state-run Petrobras' dominance of the local market, industry sources said.

Petrobras Probe Finds Corruption, One Exec Fired

Photo: Petrobras

Brazil's state-run oil company, Petrobras, has fired one executive for corruption and identified about 15 other employees involved in irregular contracts with suppliers, a source familiar with the situation said on Wednesday. Partial results of a continuing…

Bolivian Natural Gas Imports to the Brazilian Market

Petrobras announces that it entered into an agreement with YPFB, in accordance with its negotiation agenda, aimed at resolving differences as to the performance of the Bolivian natural gas import contract (Gas Supply Agreement - GSA) to the Brazilian market.

Petrobras Sought Arbitration for Sete Brasil talks, Sources Say

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…

Worst Petrobras Strike in 20 Years Endangers Debt Plan

A four-day strike against Petrobras gathered steam on Wednesday, cutting crude and natural gas output from the No. 2 South American oil producer and threatening to become the most disruptive walkout at the state-run oil company in 20 years. Petroleo Brasileiro SA…

Torres Junior Quits Petrobras Board

Petrobras

Petrobras announced that Mr. Clovis Torres Junior resigned for personal reasons, from both his positions as a board member of Petrobras and as a chairman of Petrobras Distribuidora S.A (BR). Mr. Clovis Torres Junior was the alternate of Mr. Murilo Pinto de…

Petrobras: Motion to Dismiss U.S. Lawsuit Denied

Brazil's state-run oil producer Petroleo Brasileiro SA, known as Petrobras, said in a securities filing on Friday that its motion to dismiss a class-action lawsuit in the United States had been denied by the court. Petrobras said part of the complaint against…

Petrobras Sells its Interest in Transierra

Petrobras announced that it has sold its 44.5% stake in Transierra S.A. to Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) for $106.7 million. According to Petrobras, this operation is aligned with the company’s strategic plan and complies with Law466 of…

Corruption Charges Ends Petrobras Contract with Ensco

Rig contractor Ensco Plc said Petrobras has declared void a contract for a drillship leased to the Brazilian oil producer. Petroleo Brasileiro SA, or Petrobras, chartered the DS-5 in 2008, when it was owned by Pride International, a company bought by Ensco in 2011.

Petrobras Writedown Could Bolster Class-Action Suit

Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors…

Texas Refinery Loss Blame Should be Shared: Petrobas ex-CEO

File photo

Brazil's President Dilma Rousseff must assume her share of responsibility for the controversial purchase of a refinery in Texas by Petroleo Brasileiro SA, the former chief executive of the state-run oil company said in an interview published on Sunday. Rousseff…

Brazil's State Banks Most Exposed to Petrobras Scandal

Brazilian state-controlled banks are most at risk over loans to oil producer Petróleo Brasileiro SA and third-party contractors in the oil services and construction industries, Moody's Investors Service said on Tuesday. An ongoing investigation into alleged corruption at Petrobras…

Petrobras Union 24-hour Strike Fights Asset Sales, Oil Bill

Brazilian oil workers began a 24-hour strike on Friday in an effort to stop efforts to shrink state-run oil company Petroleo Brasileiro SA, or Petrobras, according to the main union representing the workers. FUP, the country's largest oil workers union federation…

Petrobras Seeks IPO Regulatory Nod

Petrobras looking to slash costs, sell assets; fuel unit IPO would depend on market conditions. The board of Petróleo Brasileiro SA has approved a plan to seek regulatory permission for an initial public offering of the state-controlled oil producer's fuel distribution unit…

Petrobras Options Buyers Grapple with Uncertain Brazil Election

Uncertainty stemming from Brazil's most competitive presidential election in 12 years is claiming another victim: the buyers of options on shares of state-controlled oil producer Petroleo Brasileiro SA. The 30-day implied volatility on options of Petrobras…