Shell Brazil Evaluating Potential Purchase of Eletrobras Assets
Royal Dutch Shell's Brazil chief said on Wednesday that the company is evaluating the assets of Centrais Eletricas Brasileiras SA's that are being put up for sale as part of the state-owned utility's debt reduction and privatization plans.Andre Araujo also told reporters that the company was considering participating in an upcoming Brazilian government auction for projects in the wind energy
Brazil Sees Possible Petrobras Privatization in Future
A privatization of state-controlled oil company Petróleo Brasileiro SA is feasible in the long run, Brazil's Mines and Energy Minister Fernando Coelho Filho said late on Monday, in a surprising remark amid rising controversy over state asset sales in Latin America's largest economy. Speaking on a late night interview show on São Paulo public television…
Brazil Aims to Raise $7.7 bln in Oil, Gas Auctions
Brazil's government expects to raise at least 24 billion reais ($7.7 billion) in oil and gas auctions through 2019, Energy Ministry Executive Secretary Paulo Pedrosa said on Monday. The auctions, which include presalt exploration areas, should raise at least 8.5 billion reais in 2017, Pedrosa said. Proceeds from the…
Eletrobras to Sell Real Estate, Complete Power Lines, CEO says
Brazil's financially troubled state-controlled electricity utility holding company Eletrobras plans to focus efforts on completing existing projects before bidding on new plants and power lines, its Chief Executive said on Friday. Centrais Eletricas Brasileiras SA, as the utility is formally known, is also asking its…
Brazil Blocks Belo Monte Dam Operation
A Brazilian federal court has revoked a lower court's injunction that had suspended the operating license for the Belo Monte hydroelectric dam, one of the world's largest, Brazil's Energy Ministry said in a Twitter post on Wednesday. The ministry said a decision from the federal court in Brasilia lifted the earlier order blocking the beginning of power generation at Belo Monte…
Eletrobras says Compensation for Hydro Plants Could be $330 mln
Brazil's state-run utility Eletrobras said on Friday a report into six hydroelectric plants found the assets had a remaining value of 1.3 billion reais ($332 million) after amortization and depreciation. Under Brazilian law, Centrais Eletricas Brasileiras SA, as the company is formally known, may be entitled to compensation…
Eletronuclear CEO Charged in Brazilian Corruption Probe
Brazilian federal prosecutors on Tuesday presented formal corruption charges against the head of nuclear power utility Eletronuclear, a division of state-run energy company Centrais Eletricas Brasileiras SA, known as Eletrobras. Police detained Othon Luiz Pinheiro da Silva, who is on leave as Eletronuclear's chief executive officer, in late July.
Eletrobras Logs $390 mln 2Q loss
Brazil's state-run electric utility Eletrobras has posted a wider second-quarter loss due to weaker hydropower generation and provisions for pending court cases. Centrais Eletricas Brasileiras SA, as the company is also known, reported a quarterly net loss of 1.36 billion reais ($390 million) compared with a loss of 109 million a year earlier, according to a late Friday securities filing.
Eletrobras to Cut Investments by 17.3%
Brazil's state-run power company Centrais Eletricas Brasileiras SA said on Friday it plans to invest 50.3 billion reais from 2015 to 2019, a 17.3 percent reduction from its previous five-year investment plan. Eletrobras, as the company is known, plans to invest 34.8 billion reais of the total to expand its power plants and transmission lines, it said in a filing to the local market regulator.
Eletrobras Executives Request Leave During Probe
Two senior executives at Brazil's state-run power company Centrais Eletricas Brasileiras SA told Reuters on Friday that they had requested leave as a corruption investigation sweeps the country's largest electric utility. Valter Cardeal, head of generation at the holding company known as Eletrobras, and Adhemar Palocci…
Brazil Nuclear Utility Confirms Arrest of CEO-on-leave Pinheiro
Eletronuclear, the nuclear-power unit of Brazil's state-led utility Centrais Eletricas Brasileiras SA, said on Tuesday its chief executive on leave, Othon Luiz Pinheiro da Silva, was arrested as part of a corruption investigation. Pinheiro, an Admiral in Brazil's Navy and a key figure in the development of Brazil's nuclear programs…
Eletrobras Accord on Petrobras Debts Coming Soon
Brazil's state-run power utility Eletrobras expects an accord by the end of the month with state-run oil company Petrobras to pay as much as $3.2 billion in overdue fuel bills, an Eletrobras official said late Monday. Centrais Eletricas Brasileiras SA, as Eletrobras is formally known, has fallen behind in its payments…
