Tag: Petrobras

• Thursday, May 26th 2016 - 06:53 UTC

  Rousseff claims Temer intends to “privatize” Brazil's pre-salt oil reserves

  

  Brazil's suspended president, Dilma Rousseff, on Wednesday accused interim head of state Michel Temer of intending to “privatize” the oil discovered in recent years in deep waters of the Atlantic Ocean and thus deprive the nation's education sector of funding.

• Friday, May 20th 2016 - 11:05 UTC

  Petrobras new CEO is a former energy minister and chief of staff

  

  Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO was working as chairman of Sao Paulo-based financial bourse BM&FBovespa.

• Thursday, May 5th 2016 - 11:27 UTC

  Petrobras sells stakes in Argentina and Chile, part of major divestment plan

  

  Brazil’s state-run oil firm Petrobras said it has concluded the sale of its 67.2% stake in Petrobras Argentina to Argentina’s Pampa Energía for US$ 892 million, according to a securities filing. Petrobras also sold all of Petrobras Chile Distribución to Southern Cross Group for about US$ 490 million as part of its divestment program, the company said.

• Saturday, March 26th 2016 - 07:33 UTC

  Rousseff blasts the opposition for their “fascist methods” in trying to illegally remove her from office

  

  Brazilian President Dilma Rousseff condemned the “fascist methods” of opponents seeking her ouster and said the country's current political crisis would leave a “scar” if not resolved democratically. In an interview with several foreign media groups, Rousseff said she was being pressured to resign because her rivals wanted “to avoid the difficulty of removing -- unduly, illegally and criminally -- a legitimately elected president from power”.

• Thursday, March 3rd 2016 - 05:27 UTC

  Petrobras loses tax case; discussing sale of assets in Argentina to Pampa Energia

  

  Brazil's state-run oil company Petrobras may be forced to pay 7.3 billion Reais (US$1.9 billion) in back taxes and fines after a decision by the country's tax authority Carf, newspaper Valor Economico reported on Wednesday.

• Saturday, February 20th 2016 - 10:32 UTC

  Shell suggests Petrobras should cede some drilling rights to foreign firms

  

  Brazil’s government-owned oil giant Petrobras should cede some of its drilling rights to foreign firms, Royal Dutch Shell Oil CEO Ben van Beurden was quoted saying in Estado de Sao Paulo newspaper.

• Friday, February 12th 2016 - 06:27 UTC

  Petrobras faces legal challenges in the billions from international investors

  

  Brazil’s troubled state oil firm Petrobras faces possible new legal challenges from a coalition of groups representing international investors based in Europe in the US. The financially hobbled and corruption-racked company is being sued over alleged fraud-related losses the investors suffered on its shares and bonds traded outside the Americas.

• Saturday, January 30th 2016 - 13:11 UTC

  Petrobras plans to slash 30% of management jobs in non-operating areas

  

  As Brazil struggles with a corruption scandal in which executives and politicians face investigations of alleged bribery, Brazil’s state-run oil company Petrobras announced it will slash management jobs as part of an efficiency drive approved by its board of directors.

• Thursday, January 28th 2016 - 07:14 UTC

  Petrobras scandal leads to real estate transactions investigation

  

  Brazilian police and prosecutors said Wednesday that as part of their investigation into a massive corruption scheme centered on Petrobras they were looking into whether some of the money diverted from the state-controlled oil company was laundered through real-estate transactions coordinated by a Panamanian-based law firm.

• Wednesday, January 20th 2016 - 08:06 UTC

  Rousseff's impeachment chances dying out as main ally is strongly divided on the issue

  

  President Dilma Rousseff’s opponents in the fractious Brazilian Democratic Movement Party (PMDB) are losing hope that they can impeach the leader and replace her with their man, Vice-President Michel Temer.