Petrobras Takes Two of Six Port Terminals in Brazil Auction
Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450 million reais ($117 million) in the auction of the terminals — five in the Miramar port in the ci
Petrobras' Next CEO Already Working Inside Company
Petroleo Brasileiro SA's next CEO is already working within the Brazilian state-controlled oil firm and is talking with employees about business plans, four sources told Reuters.Roberto Castello Branco, named by president-elect Jair Bolsonaro's economic team to take the helm at Petrobras…
Shell, Petrobras Units Probed for Brazil Price-Fixing
Brazil's three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America's largest oil producer.The firms targeted by the probe are Petrobras Distribuidora SA…
Petrobras Hikes 2017 Fundraising Forecast
Brazil's Petroleo Brasileiro SA, the world's most indebted oil company, nearly doubled its fundraising forecast for 2017 but trimmed its target for divestments. In a presentation following disappointing third quarter results, Petrobras said it expects to raise $22 billion in funds this year compared to a prior forecast of $13 billion.
Petrobras May Take Over Eletrobras Thermal Power Stations
Petróleo Brasileiro SA may take over some thermal power stations run by Centrais Elétricas Brasileiras SA in exchange for forgiving some of Eletrobras' billions of dollars in debt, newspaper Valor Econômico reported on Tuesday. An agreement would help both companies cut debt and focus on core operations…
Petrobras Fuel Distribution IPO May Come This Year
The chairman of Petróleo Brasileiro SA on Wednesday said an initial public offering (IPO) of the Brazilian state-controlled oil company's fuel distribution unit could happen this year. Petrobras, as the company is known, plans to sell shares in the BR Distribuidora unit to cut debt and refocus on core activities.
Itausa Rules Out Offer for BR Distribuidora Stake
Brazilian holding company Itausa Investimentos Itau SA is no longer interested in competing for a stake in BR Distribuidora, the fuel distribution unit of state-run oil company Petroleo Brasileiro SA, Itausa said Tuesday. In a statement, Itausa said it would continue to analyze opportunities to acquire stakes of other companies.
Petrobras Resorts to Top Court to Free Divestment Plan
Brazil's state-run oil company Petrobras has asked the Supreme Court to lift an injunction obtained by an oil workers' union that froze sales of its assets, including its fuels distribution unit, a court official said on Friday. Petrobras filed the request on Thursday in a…
Petrobras BR Distribuidora Union Workers Start 5-day Strike
Workers at BR Distribuidora, the fuel unit of Brazil's state-owned oil company began a planned five-day strike on Monday to protest the planned sale of control of the distributor, the president of a union representing striking workers said. Employees of BR, formally known as Petrobras Distribuidora SA…
Petrobras Expects Bids for BR Fuel Unit by November
Brazil's state-controlled oil company Petróleo Brasileiro SA expects to receive binding offers for a controlling stake in its fuel distribution unit, BR Distribuidora, by late November or early December, Chief Executive Officer Pedro Parente said on Wednesday. The sale of a controlling voting stake could be completed by mid-2017…
Brazil's Petrobras plans to sell voting control of BR fuels unit
Brazil's Petróleo Brasileiro SA said on Friday it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs. Petrobras now plans to keep…
No Plans to Privatize Petrobras: CEO
The Brazilian government has no plans to privatize state-run oil company Petroleo Brasileiro SA and is still deciding whether to sell its controlling share in several units to shore up its finances, the company's Chief Executive Officer Pedro Parente said in an interview with a local newspaper published on Monday.
Alleged Petrobras TX Refinery Graft Prompts Brasil Police Raids
Brazilian police and prosecutors investigating corruption at Petroleo Brasileiro SA said on Monday they have evidence that bribes were paid as part of the state-run oil company's 2006 purchase of Pasadena Refining Systems Inc in Texas. At a news conference announcing a new…
Petrobras Names New Board Chief for BR Distribuidora Fuels Unit
Brazil's Petrobras named Segen Farid Estefen interim chairman of the board of BR Distribuidora SA, the fuels unit in which the state-run oil company is seeking a new business partner, according to a Wednesday securities filing. Estefen, a mechanical and ocean engineering professor at the Federal University of Rio de Janeiro…
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, as the oil producer is commonly known…
Petrobras Fuel Tank Explodes in Brazil, Killing Two
A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. (1300 GMT) while workers were doing planned maintenance on the heating unit…
Petrobras Fuel Unit CEO Could be Out
State-controlled Brazilian oil producer Petróleo Brasileiro SA plans to replace the head of fuel distribution subsidiary BR Distribuidora SA ahead of an initial public offering plan for the unit this year, Valor Econômico newspaper said on Wednesday. According to Valor, the…
Petrobras Chairman Dissents on Fuel Unit Sale
RIO DE JANEIRO/SAO PAULO, Aug 18 (Reuters) - Petrobras Chairman Murilo Ferreira dissented in a recent vote to sell a stake of at least 25 percent in the Brazilian state- controlled company's BR Distribuidora SA fuel distribution unit to help reduce debt, board meeting minutes showed.
Ultrapar Covets Petrobras Gas Assets
Ultrapar Participações SA, which owns Brazil's largest natural gas distribution company, is interested in acquiring some assets from state-controlled Petróleo Brasileiro SA that could be listed as early as this year, O Estado de S. Paulo newspaper reported on Monday. Ultrapar would be willing to acquire Liquigás…
Petrobras Seeks IPO Regulatory Nod
Petrobras looking to slash costs, sell assets; fuel unit IPO would depend on market conditions. The board of Petróleo Brasileiro SA has approved a plan to seek regulatory permission for an initial public offering of the state-controlled oil producer's fuel distribution unit, weeks after hiring the banks that will handle the deal.
