Ex-Petrobras CEO Bendine Convicted of Corruption in Brazil
Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison. Judge Sergio…
Former CEO of Brazil's Petrobras Charged with Corruption
Brazilian prosecutors on Tuesday charged the former chief executive officer of state-controlled oil company Petroleo Brasileiro with corruption, alleging he used his position to take bribes from construction firm Odebrecht. Aldemir Bendine served as CEO of Petrobras…
Petrobras Extends CEO's Term for Two Years
The board of Brazilian state-controlled oil company Petróleo Brasileiro SA voted to extend current Chief Executive Officer Pedro Parente's term for a further two years, according to a Monday securities filing. The filing did not specify when his new term is set to start.
Petrobras CEO to Cut Salaries
Brazil's Petroleo Brasileiro SA plans to propose a deal with unions to reduce salaries and working hours at the state-run oil company to help cut a massive debt, newspaper o Estado de S. Paulo said on Tuesday. Petrobras Chief Executive…
Petrobras Name Parente CEO
The board of directors at state-controlled oil company Petróleo Brasileiro SA formally elected Pedro Pullen Parente as chief executive officer, a source with direct knowledge of the situation said on Monday. According to the source,…
Petrobras Announces new President, Management Changes
Petrobras reports that it has received the letter of resignation of Mr. Aldemir Bendine the functions of a member of the Board of Directors and President of the Company today. In addition, Mr. Bendine also resigned today, the office…
Petrobras to name Parente as CEO
The board of Brazil's state-run oil producer Petroleo Brasileiro SA will meet on Monday to formalize the nomination of Pedro Parente as chief executive, replacing Aldemir Bendine, according to a securities filing on Friday. Parente,…
Petrobras Sought Arbitration for Sete Brasil talks, Sources Say
State-controlled Petróleo Brasileiro SA unsuccesfully sought the appointment of arbiters to rework a long-term contract with debt-laden drilling rig leaser Sete Brasil Participações SA, according to three sources with knowledge of the situation.
Petrobras Cuts Spending Plan Again
Petróleo Brasileiro SA, Brazil's state-controlled oil producer, on Tuesday slashed its investment plan for the third time in just over six months as it tries to preserve cash to pay its debt, the industry's largest. With oil prices at…
Petrobras Says Not Considering Libra Area Sale
Brazil's Petroleo Brasileiro SA, or Petrobras, is not considering selling a 10 percent stake in its giant Libra offshore oil prospect at this time, the state-run oil company said on Friday. Petrobras was responding to a report on Tuesday…
Petrobras CEO Expects to Sell $20 Bln in Debt in 2016
Brazil's Petroleo Brasileiro SA plans to sell about $20 billion of debt next year to finance its 2017 needs, Aldemir Bendine, chief executive of the state-run oil company known as Petrobras, told Bloomberg News on Thursday. There is…
Petrobras Offers to Sell up to 10% of Libra Field
Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday.
Worst Petrobras Strike in 20 Years Endangers Debt Plan
A four-day strike against Petrobras gathered steam on Wednesday, cutting crude and natural gas output from the No. 2 South American oil producer and threatening to become the most disruptive walkout at the state-run oil company in 20 years.
Petrobras Fetches $490 mln with Gas Unit Stake to Mitsui
State-controlled Petróleo Brasileiro SA's board approved selling a minority stake in a natural gas distribution unit to Japan's Mitsui & Co Ltd for 1.9 billion reais ($490 million) in a key step toward disposing of non-essential assets to repay debt.
Petrobras Puts off Domestic Bonds Sale on Weak Market
Brazil's state-led oil company, Petroleo Brasileiro SA, said on Thursday it has delayed plans to sell about 3 billion reais ($785.6 million) of local-market bonds because of adverse market conditions. The decision, announced in a securities filing…
Petrobras Saved $3.8 Bln This Year by Managing Debt Netter -CEO
Brazilian state-run oil company Petroleo Brasileiro SA has saved $3.8 billion this year by improving the way it manages its debt, Chief Executive Aldemir Bendine said on Wednesday. The company will emerge slimmer but more robust from the current process of restructuring…
Petrobras BoD Approves Chairman Leave of Absence
The board of directors of Brazil's state-run oil company Petrobras approved the leave of absence of its chairman Murilo Ferreira until Nov 30, the company said in on Wednesday. Ferreira, who is also the Chief Executive Officer of mining company Vale…
Petrobras Will take 5 Yrs to Rebuild Company
The chief executive of Brazil's Petroleo Brasileiro SA estimates it will take five years for the state-run oil producer to win back the credibility it lost among investors after a massive corruption scandal sent some of its top executives to jail.
Petrobras Profit Slump Defies Outlook
Analyst average estimate nearly 8 times bigger than result; Market-focused board is on course independent of govt. Brazilian state-led oil company Petroleo Brasileiro SA said its second-quarter net income plunged 89 percent after a one…
Petrobras Recovering $1.76 bln in Graft Losses
Brazil's state-led oil company Petroleo Brasileiro SA plans to recover $1.76 billion or more lost to a price-fixing, bribery and political kickback scheme, Chief Executive Aldemir Bendine said on Friday. Petrobras, as the company is known…
