Category: Brazil

(Reuters, 21.Jun.2018) – Brazil’s top labor court ruled in favor of workers at Brazil’s state-controlled oil giant Petroleo Brasileiro in a wage spat that could cost the world’s most indebted oil company up to 17 billion reais ($4.5 billion). Petrobras, as the company is known, could still appeal the Superior […]

(ExxonMobil, 7.Jun.2018) – ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning the Uirapuru exploration block with co-venturers Equinor and Petrogal Brasil during Brazil’s 4th pre-salt bid round. The block awarded adds about 88,900 net acres to the ExxonMobil portfolio, expanding the company’s total position in the country […]

(Energy Analytics Institute, Ian Silverman, 5.Jun.2018) – Ivan de Souza Monteiro is the new president of Petrobras. Brazil’s state oil company Petrobras announced controlling shareholder informed the company of the appointment of engineer Ivan de Souza Monteiro, current interim CEO, to join Petrobras’ Board of Directors and assume the position […]

(Al Jazeera, Daniel Schweimler, 2.Jun.2018) – Pedro Parente’s resignation was one of the demands of striking workers due to worries that he was going to privatise Brazil’s share of the Latin American oil company. https://www.aljazeera.com/news/2018/06/brazil-oil-company-petrobras-boss-resigns-truckers-strike-180602120210810.html The boss of the biggest oil company in Brazil has resigned, driving down the share […]

(Energy Analytics Institute, Ian Silverman, 1.Jun.2018) – Pedro Parente resigned as CEO of Petrobras. In an official statement, Brazil’s state oil company Petrobras confirmed Mr. Parente had resigned his position as CEO of the company. Petrobras said nomination of an interim CEO will be analyzed by the Board of Directors […]

(Petrobras, 30.Mar.2017) – Petrobras, in continuation to the material facts of 10/6/2016, 12/20/2016, and 3/15/2017 and to the press release of 11/21/2016, clarifies that it has notified the Federal Supreme Court of the impossibility to proceed with the divestment process for the transfer of rights relating to the fields of […]

(Petrobras, 27.Mar.2017) – Petrobras, as stated in Circular Letter CVM/SEP/01/2017, reported that it has received a request for the replacement of the substitute candidate to the Fiscal Council (FC) nominated by preferred shareholders Leblon Previdência Fundo de Investimento Multimercado and Ataulfo LLC, whose elections will take place at the Annual […]

(Petrobras, 27.Mar.2017) – Petrobras reports that in the meeting held yesterday Petrobras’ Board of Directors approved the reelection of CEO Pedro Pullen Parente for a two-year term in the company’s Executive Office. Mr. Pedro Parente had been elected CEO as of May 31, 2016, following the term in office of […]

(Petrobras, 27.Mar.2017) – Petrobras, in continuation to the material fact disclosed on December 28, 2016, informed that, the Shareholders’ Extraordinary General Meeting approved the sale of 100% of the shares held by Petrobras in PetroquímicaSuape and Citepe to Grupo Petrotemex S.A. de C.V. and Dak Americas Exterior, S.L, subsidiaries of […]

(Petrobras, 24.Mar.2017) – Petrobras informed that the Administrative Board of Tax Appeals (CARF) issued on 3/22/17 a decision in favor of the Company, in the administrative proceeding that addresses the deductibility of expenses incurred by Petrobras in the development of oil and gas production, for the purposes of calculating the […]

(Petrobras, 23.Mar.2017) – Petrobras’ results in 2016 were marked by a significant improvement in its operational performance over the course of the year, reflected in a reversal from the loss posted in 3Q16 to a net profit of R$2.51 billion in 4Q16, and a reduction in indebtedness. Despite lower oil […]

(Petrobras, 23.Mar.2017) – Petrobras informed that Mr. Paulo José dos Reis Souza, member of the Fiscal Council, submitted his resignation to the post, effective on March 27, 2017. The election of the new member of the Fiscal Council appointed by the controlling shareholder will be in the Extraordinary General Meeting, […]

(Petrobras, 15.Mar.2017) – Petrobras, in continuation to the material facts disclosed on 12/8/2016 and 12/20/2016, reports that the decision by the Federal Accounting Court (TCU) issued, repealed the preventive order preventing the company from initiating new divestment projects and concluding those in progress and, as for the merit, ordered Petrobras […]

(Moody’s, 15.Mar.2017) – On 15 March 2017 Moody’s changed the outlook on the Government of Brazil’s Ba2 rating to stable from negative, reflecting Moody’s expectation that the downside risks are abating and macroeconomic conditions stabilizing. As stated in our previous reports, the change in Brazil´s outlook does not directly affect […]

(Petrobras, 14.Mar.2017) – Petrobras’ oil and natural gas production in February totaled 2.82 million barrels of oil equivalent per day (boed), with 2.703 million boed produced in Brazil and 113,000 boed abroad. Average domestic oil output stood at 2.20 million barrels per day (bpd), 1% down on the January figure. […]