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, is expected to take up the chief executive role next year pending approval by the company's board.However…
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, a key step in the sale of Eletrobras subsidiary Amazonas Energia and the possible initial public offering of Petrobras unit BR Distribuidora SA.
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. Parente, who took over the leadership of the debt-laden company in May…
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 round of arrests and searches in a nearly 20-month investigation of price-fixing, bribery and political kickbacks at Petrobras…
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, will be in charge of leading a reorganization of BR Distribuidora, Brazil's largest fuels retailer with 7,500 service stations.
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, had been engaged in negotiations with Mitsui Gas e Energia do Brasil Ltda over the sale of 49 percent stake in Gaspetro…
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, said the press office of BR Distribuidora SA, the fuels distribution unit of Petroleo Brasileiro SA, as Petrobras is formally known.
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 company commonly known as Petrobras will hire an executive recruiting firm to look for a replacement for BR Distribuidora Chief Executive Officer José Lima de Andrade Neto.
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. The 10-member board of Petróleo Brasileiro SA, as the oil producer is formally known, approved the proposal 8-2 on Aug. 8, according to minutes published late on Monday.
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, a rival controlled by the state firm commonly known as Petrobras, Chairman Paulo Cunha told Estado in an interview.
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, may also complete an initial public offering of its fuel distribution unit BR Distribuidora SA this year if market conditions are right, Bendine told reporters. Reporting by Marta Nogueira and Rodrigo Viga Gaier
