Tag: Petrobras

Tuesday, May 5th 2015 - 06:34 UTC
Brazil pledges rule changes to make oil exploration and production concessions more dynamic

Brazil's government is discussing changes to its oil regulations but any new rules will not be in place before an October auction of exploration and production concessions, the country's energy minister Eduardo Braga said on Monday.
Tuesday, May 5th 2015 - 06:19 UTC
Petrobras sets record for exploratory drilling in water depth of 3.000 meters

Petrobras has set a new Brazilian record for exploratory drilling by reaching a water depth of nearly 3,000 meters, the state-controlled oil giant said. The 3-BRSA-1296-SES well was drilled to a water depth of 2,988 meters - eight meters more than the 3-SES-184 well Petrobras drilled in February in that same basin - and a total depth of 6,060 meters.
Monday, April 27th 2015 - 10:14 UTC
Shell confident Petrobras will recover and willing to purchase more assets from the Brazil oil giant

Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's CEO said in an interview.
Monday, April 27th 2015 - 10:04 UTC
Petrobras halts production in four platforms off Sergipe following a leak

Petrobras oil platforms off the north-east coast of Brazil have halted production after a leak of about 44 barrels (7000 liters) of oil was detected coming from a pipeline linking them, a local oil workers union head said over the weekend.
Friday, April 24th 2015 - 22:08 UTC
Eight first convictions in Petrobras corruption case including a former manager

The Brazilian judge overseeing the investigation into alleged corruption at Petrobras on Wednesday convicted eight people of crimes related to kickbacks and bribery. Judge Sergio Moro found former Petrobras executive Paulo Roberto Costa and currency dealer Alberto Youssef guilty of money laundering, and Mr. Costa of belonging to a criminal organization.
Friday, April 24th 2015 - 08:51 UTC
Petrobras normalizing links with investors on improved governance and transparency

With the release of audited financials, Brazilian oil giant Petrobras believes it has started to normalize its relationship with investors and to implement better corporate governance in the wake of the financial scandal that has rocked the company, its chief financial officer said on Thursday.
Thursday, April 23rd 2015 - 08:45 UTC
Brasil's third biggest builder contracting drastically after Petrobras scandal and bankrupcy

Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50% by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal at a state-run oil company.
Thursday, April 23rd 2015 - 07:09 UTC
Petrobras reveals extent of its losses because of corruption and mismanagement

Brazil's state-run oil giant Petrobras which has been bashed by a wide-spread corruption scandal, reported on Wednesday a 2014 net loss of 21.6 billion Reais (7.2 billion dollars) after taking 50.8 billion Reais in charges.
Wednesday, April 22nd 2015 - 06:35 UTC
Petrobras receives financial support from China and local banks

Brazilian state-run oil company Petrobras approved a series of financial agreements with local and international banks that will meet its financing needs in 2015, the company announced. In a filing with local stock regulators, Petrobras said that the deals will provide the company with access to about 6.2 billion dollars, including a 3.5bn financing contract reached with China Development Bank on April 1.
Monday, April 20th 2015 - 06:42 UTC
Brazilian leading contractor admits paying 36m dollars in bribes to Petrobras officials

A vice president of construction company Camargo Correa told Brazilian prosecutors that he paid 36 million dollars in bribes to officials of state-controlled oil company Petrobras, the press reported, citing a document prepared by prosecutors.