Brazil's Deputy Mines and Energy Secretary to Resign
Brazil's deputy mines and energy minister Paulo Pedrosa has decided to step down from his post, a source familiar with the decision told Reuters on Friday. The move follows the resignation of his boss, Fernando Coelho Filho, one of a dozen cabinet ministers who are leaving the government to run in the October general election. Reporting by Rodrigo Viga and Luciano Costa Writing by Ana Mano
Petrobras CEO Sees Few Board Changes This Year
Brazilian state-controlled oil company Petroleo Brasileiro SA's board of directors should change little this year, Chief Executive Officer Pedro Parente said on Monday, amid meetings with government officials in Brasilia on the subject. "It was a visit to clarify that basically we would be renewing the board, with few changes, if there are changes, but there may be," said Parente, after meeting with Mining and Energy Minister Fernando Coelho Filho. The Petrobras board includes seven members representing the federal government, which is the controlling shareholder.
Brazil Court Overturns Injunction Blocking Oil Auction
A Brazilian federal court overturned on Friday an injunction issued a day earlier which was blocking the start of an auction for oil blocks in Brazil's offshore pre-salt area. Energy minister Fernando Coelho Filho said in Rio that auction organizers were waiting for the court decision to be published to start the round, which he said would happen soon. Reporting by Rodrigo Viga Gaier and Ricardo Brito
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, Coelho Filho said the sale of Petroleo Brasileiro SA could take place some time in the future, according to a report on G1 website. "I think it is going to happen. It is a way," G1 quoted Coelho Filho as saying.
Petrobras, Brazil Dispute Transfer of Rights Worth $30 bln
Brazil's government and state-run oil company Petroleo Brasileiro are locked in a dispute over the value of offshore oil blocks involving an estimated $30 billion, newspaper Valor Econômico reported on Friday. The dispute, which has previously been reported, centers on a 2010 contract in which Petrobras paid the government for the transfer of exploratory rights over some oil areas off the coast. Oil prices were much higher at the time the original contract was signed, at around $90 per barrel.
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. Power utility Eletrobras' overdue fuel bills with Petrobras are close to 16 billion reais ($5 billion), according to the newspaper.
Petrobras to Exercise Preferential Rights in Brazil Oil Auctions
State-controlled oil company Petroleo Brasileiro SA will exercise its preferential rights in two offshore oil auctions scheduled for October, Mining and Energy Minister Fernando Coelho Filho said at an event on Tuesday. The minister did not say where the company, known as Petrobras, would exercise its rights, but he said it would not do so in all of the areas up for auction in the pre-salt region. (Reporting by Rodrigo Viga Gaier)
Brazil to Get Data for Revision of Large Petrobras Contract
The Brazilian government will receive next month from the country's oil watchdog ANP the calculations to base the revision of a large contract with Petrobras known as the Transfer of Rights, the Energy Minister Fernando Coelho Filho said on Monday. The contract, through which the government exchanged some oil areas in its coast for Petrobras equity, will be revised this year. Analysts expect Petrobras to receive a large credit in the revision, which could be paid in cash or oil. (Reporting by Marta Nogueira; Writing by Marcelo Teixeira)
Brazil Gov't Decided Not to Push Ahead with Tapajos Dam
The Brazilian government has decided not to move ahead with the Sao Luiz do Tapajos hydroelectric dam project in the Amazon for the time being, Mines and Energy Minister Fernando Coelho Filho said on Tuesday. Coelho Filho also said that a bill that would relieve the state-run oil company Petroleo Brasileiro SA of its obligations to be the operator in all subsalt oil prospects will not be voted on until the lower house approves legislation intended to ease states' debt burdens. (Reporting by Leonardo Goy; Writing by Alonso Soto and Reese Ewing)
Brazil's Energy Minister Invites Former Regulator for No. 2 Post
Brazil's energy minister Fernando Coelho Filho invited Paulo Pedrosa, a former director at electricity watchdog Aneel, to be his deputy, said a source with direct knowledge of the process. Asked to comment, Pedrosa told Reuters on Tuesday he had a good conversation with the minister, but declined to say he will get the post. "I and others were sought by the minister, who is listening to qualified professionals about the sector," he said. (Reporting by Luciano Costa; Writing by Marcelo Teixeira)
