Petrobras, Brazil's largest corporation, carried out asset sales and underwent a restructuring this year in response to a severe financial crisis, emerging smaller but with a more profitable and productive future ahead, CEO Aldemir Bendini said Tuesday.
Petrobras, is not considering selling a 10% stake in its giant Libra offshore oil prospect at this time, Brazil's state-run oil company said on Friday. Petrobras was responding to a report on Tuesday that industry sources had been told by the company that the Libra stake was on offer.
Murilo Ferreira has resigned as chairman of Brazilian state oil company Petrobras, the firm said Monday. Ferreira, the CEO of mining giant Vale, took a leave of absence in September and Luiz Nelson Guedes de Carvalho, who has served as interim chairman since then, will continue in that role for the moment, the company said in a brief statement.
Earlier on Friday a key Petrobras workers union voted to end a 20-day strike that disrupted output. Workers at the Sindipetro Norte Fluminense local, who had ignored the largest oil workers' union FUP's call to end the strike that started on November first, will return to work Friday evening at onshore operations, union spokesman Tezeu Bezerra.
Brazil’s government is considering a debt plan to bolster the capital of heavily indebted state-controlled oil Petrobras, Agencia Estado news agency reported on Thursday. Under the plan, the Brazilian Treasury would transfer so-called hybrid securities to Petrobras, which would then book the securities as equity until it sold new stock, Estado reported.
Brazil's oil company Petrobras has concluded negotiations with international export credit agencies (ECAs) for a total of US$1.84bn. According to a company statement. The financing will contribute towards its fundraising efforts for 2016.
Brazilian oil workers union local responsible for the bulk of the country's oil and gas output told its members on Tuesday to abandon Petrobras vessels operating in the Campos Basin, Brazil's most productive oil district.
Brazil's scandal-plagued state oil giant Petrobras on Thursday announced third-quarter losses of about US$ 1 billion, mainly due to the sharp devaluation of the Brazilian currency.Petrobras, mired in a hugely damaging scandal involving bribes and high-level political payoffs, posted losses of 3.76 billion Reais in the quarter, compared with a loss of 5.3 billion Reais a year earlier.
Brazil's energy giant Petrobras offered striking workers a 9.54% wage hike on Wednesday in an effort to end a 10-day strike and prevent it from causing further production losses. But union officials said the deal makes almost no concessions on their most important demands. These include calls on Petrobras to reverse investment cuts and block planned assets sales designed to reduce Petrobras' debt.
Brazilian officials are investigating allegations that Petrobras overpaid hundreds of millions of dollars for the Pasadena, Texas, refinery and funneled money into a massive kickback scheme that's led to dozens of convictions and arrests and fueled calls for the impeachment of president Dilma Rousseff, who chaired the company until 2010.