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MercoPress, en Español

Montevideo, August 24th 2026 - 11:56 UTC

Tag: Petrobras

  • Monday, April 3rd 2017 - 13:52 UTC

    Brazil rapidly becoming global supplier of light crudes

    Petrobras Guilherme said company's production ”consists of much lighter oil than we used to produce in the past; we have demand for more than we can deliver.”

    Brazil is poised to sharply increase oil exports this year as heavy investments spur new output and demand for its lighter crudes win more buyers, especially in China and India. Production is projected to rise 210,000 barrels per day (bpd) in 2017, second only in the size of additional supply to the United States among non-OPEC producers.

  • Wednesday, March 15th 2017 - 08:04 UTC

    Lula da Silva denies all charges in court; “I have been a victim for three years”

    ”I have absolutely no reason to have any problem with the testimony of Cervero, no reason at all. I don't know (him),” Lula said, according to a video from the court.

    Brazil's former president has appeared in court to deny allegations he was part of a plot to obstruct a massive corruption probe by keeping a former Petrobras executive from revealing what he knew. News media websites in Brazil published Tuesday's testimony by Lula da Silva, who told a federal court in Brasilia that he didn't even know Nestor Cervero, a former director of the State oil company.

  • Tuesday, February 21st 2017 - 10:58 UTC

    Petrobras exporting record volumes from sub-salt offshore oil fields

    Brazil’s sub-salt production rose to 1.26 million barrels per day (bpd) in December, equivalent to 46% of the country’s total output – up from 34% a year earlier.

    Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine into products like gasoline and diesel.

  • Tuesday, February 14th 2017 - 12:17 UTC

    Petrobras credit rating raised to BB-: improved governance “compares well with those of its peers”

    The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”

    Credit rating agency Standard & Poor’s on Friday raised its corporate credit rating on Petrobras, one notch, from B+ to BB-. The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”

  • Thursday, February 2nd 2017 - 17:35 UTC

    Petrobras scandal reaches Chile: Bachelet denies receiving any financial support

    A story published by Veja said a former member of Brazil's Workers Party and an ex CEO had linked Bachelet to OAS as part of the corruption investigation. (Pic AP)

    Chilean President Michelle Bachelet on Wednesday denied reports she received financial support for her 2013 campaign from a construction conglomerate that is involved in Brazil's huge Petrobras corruption scandal. Grupo OAS is among dozens of Brazilian companies that are embroiled in a kickback scheme that is the biggest corruption scandal in Brazil's history.

  • Tuesday, January 31st 2017 - 12:07 UTC

    Brazil's ex richest man jailed on return from US; he is linked to the Petrobras scandal

    Authorities shaved Batista's head and jailed him in the Gericinó Penitentiary. His lawyers have urged to move Batista from the common prison fearing for his life

    Former Brazilian billionaire Eike Batista on Monday turned himself in to police in Rio de Janeiro on Monday on charges related to the Petrobras corruption scandal. He was detained shortly after arriving from New York.

  • Friday, January 13th 2017 - 11:12 UTC

    Corruption charges against Decal do Brasil for bribing Petrobras top manager

    Federal prosecutors allege that Ferraz paid US$868,450 to Petrobras' ex-director of refining and supply, Paulo Roberto Costa, to renew at inflated prices contracts

    Brazilian prosecutors on Thursday filed corruption charges against Decal do Brasil co-founder Mariano Marcondes Ferraz, accusing him of bribing a former executive at state-run oil company Petrobras to win contracts for Ferraz's own firm.

  • Saturday, December 17th 2016 - 00:24 UTC

    Petrobras sells ethanol assets as it moves out of the biofuels industry

    The Nova Fronteira transaction marks another step in Petrobras' efforts to get out of the biofuels industry, which has soaked up enormous amounts of capital

    Brazil's oil company Petrobras has agreed to sell its 49% stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA, both companies said in securities filings on Thursday. Petrobras will receive 24 million new São Martinho shares as payment for the stake. Petrobras said in the filing that it will attribute a US$133 million value to the deal.

  • Wednesday, November 30th 2016 - 09:31 UTC

    Temer signs bill that opens sub-salt oil deposits to private the sector

    With the new bill Petrobras has signaled its reluctance to take on the operator role for new sub-salt projects, and could end up selling stakes in sub-salt projects

    Brazilian president Michel Temer signed legislation on Tuesday which opens the way for oil companies other than state-controlled Petrobras to operate the coveted sub-salt acreage. The bill repeals a controversial 2010 rule that requires Petrobras to hold a minimum 30% operating stake in assets governed by production-sharing contracts, mainly sub-salt assets.

  • Monday, November 14th 2016 - 07:54 UTC

    Petrobras cleans balance sheet and posts unexpected third quarter loss

    Despite losses, operational and cash flow trends improved, said Chief Financial Officer Ivan Monteiro said.

    Brazilian state-controlled oil company Petrobras posted an unexpected third-quarter loss after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais (US$4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and cash flow trends improved and, without an impairment, profit could have totaled 600 million Reais, Chief Financial Officer Ivan Monteiro said.