Tag: Petrobras

Thursday, February 12th 2015 - 05:55 UTC
Petrobras CEO says he has 'full autonomy' in fuel-price policy and cash flow

The new chief executive officer of Brazil's Petrobras said that he has full autonomy to dictate its own fuel-pricing policy and protect cash, even as he questioned the size of losses stemming from a giant corruption scandal.
Thursday, February 12th 2015 - 05:45 UTC
Petrobras has trouble finding an independent chairman of the board

Petrobras plans to publish its delayed audited fourth-quarter results by the end of March, something it needs to do to avoid possible early repayment of its bonds, the Globo newspaper said on Wednesday. Globo also published that the Brazilian government was considering appointing Planning minister Nelson Barbosa as chairman of the oil giant.
Thursday, February 12th 2015 - 05:23 UTC
Explosion in Petrobras floating oil rig kills at least three; six missing

At least three oil workers were killed and others were injured in an explosion at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials have said.
Friday, February 6th 2015 - 23:27 UTC
Market reacts negatively to Petrobras new CEO: too political and too close to Rousseff

Shares in Brazil's oil giant Petrobras plunged Friday as banking executive Aldemir Bendine, who is seen as too close to President Dilma Rousseff's party, was named the scandal-hit firm's new chief executive.
Friday, February 6th 2015 - 06:57 UTC
Brazil ruling party's treasurer questioned on the Petrobras corruption probe

Brazilian federal police said on Thursday they had started questioning João Vaccari Neto, the treasurer of the country's ruling Workers' Party, as a corruption probe focused on state-run oil company Petrobras widened to include political figures.
Thursday, February 5th 2015 - 09:30 UTC
Petrobras new management to be elected on Friday

The chief executive and other senior management at Brazil's Petrobras officially resigned on Wednesday amid a festering corruption scandal, sending shares higher as the government scrambled to find replacements capable of restoring investor confidence in the state-run oil company.
Wednesday, February 4th 2015 - 09:09 UTC
Petrobras shares soar 15% ahead of CEO's and senior managers removal

Brazilian President Dilma Rousseff will replace the chief executive and other senior managers at state-run oil company Petrobras later this month in an effort to turn the page on the widening corruption scandal. Petrobras shares jumped more than 15%, their biggest one-day gain in 16 years, after Folha do Sao Paulo first reported that Rousseff intended to replace CEO Maria das Graças Foster.
Friday, January 30th 2015 - 08:03 UTC
Petrobras former CEO has assets frozen under court investigation

A Brazilian state court froze the assets of former Petrobras Chief Executive Officer Jose Sergio Gabrielli amid an investigation of graft and money-laundering in the government-run oil producer's contracts with construction companies.
Thursday, January 29th 2015 - 07:23 UTC
Petrobras releases long delayed 3Q results but did not include reserves for corruption scandal

Brazil’s embattled Petrobras released its long delayed third quarter results Wednesday but did not include any reserves tied to an ongoing corruption scandal that has already landed three former executives in jail. The company recorded a third quarter 2014 net profit of 1.18 billion dollars, down from 1.32 billion during the same period last year.
Wednesday, January 28th 2015 - 07:40 UTC
Rousseff calls on fractious cabinet to embrace belt-tightening to restore growth

Brazil's President Dilma Rousseff has urged her cabinet to embrace fiscal belt-tightening and other measures aimed at restoring business confidence and growth in her second term.