Tag: Petrobras

• 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.

• Monday, January 18th 2016 - 08:15 UTC

  Petrobras increased pre-salt oil production by 56% during 2015

  

  Brazil's state-controlled oil company Petrobras said it increased its crude production last year by 4.6% relative to 2014, exceeding the target set forth in its business plan for the first time in 13 years. Oil output in 2015 amounted to an average of 2.128 million barrels per day (bpd), up 0.15% from the 2.125 million bpd forecast by the company.

• Monday, January 18th 2016 - 08:11 UTC

  Rousseff admits a government bailout of indebted Petrobras is a serious option

  

  Brazilian President Dilma Rousseff admitted that a government bailout for the country’s troubled state-controlled oil company Petrobras can’t be ruled out. The company is mired in financial troubles amid a deep decline of global oil prices and a sprawling corruption scandal involving several of its former executives and its largest suppliers.

• Tuesday, January 12th 2016 - 06:50 UTC

  Brazilian prosecutors looking into possible foreign and local banks involvemrny in Petrobras corruption

  

  Brazil's federal tax authority and prosecutors are investigating 13 foreign and local banks for possible financial crimes intermediating loans to Brazilian engineering conglomerate Grupo Schahin, newspaper O Estado de S Paulo says.

• Friday, January 8th 2016 - 18:15 UTC

  Petrobras plans further 2016/20 investments cuts, says Sao Paulo media

  

  Brazil state-run hydrocarbons giant Petrobras will reportedly present a five-year investment plan next month with a target lower than the US$19 billion plan announced last year. Despite two budget cuts last year, Petrobras' plans for the 2016 to 2020 period will include a further drop, with the cuts expected to come from onshore and shallow-water areas, according to a report in the Brazilian daily Estado de S Paulo.

• Thursday, December 24th 2015 - 11:11 UTC

  Capital-strapped Petrobras wants to extend oil and gas fields contracts

  

  Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said.

• Wednesday, December 16th 2015 - 07:26 UTC

  Expect a much smaller and more profitable Petrobras, in four years, says CEO Bendini

  

  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.

• Saturday, December 12th 2015 - 06:56 UTC

  Petrobras not selling any stake of its giant Libra offshore oil prospect

  

  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.