Petrobras Posts Highest-ever Quarterly Profit
Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales.In a securities filing, Petrobras, as the firm is commonly known, said second quarter net profit came to 18.87 billion reais ($4.92 billion).
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 city of Belem and one in the Vila do Conde port in the ci
Petrobras Names Former Vale Exec as CFO
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, named Andrea Marques de Almeida, an engineer and former executive at mining company Vale SA, as its new chief financial officer, according to a securities filing.Andrea Almeida will replace Rafael Salvador Grisolia, who will take over as chief…
Petrobras Divestment Plan Pushing Ahead
Petroleo Brasileiro SA is expanding its ambitious divestment program and has "bold" plans for future sales, the Brazilian state-run oil company's chief executive said after the firm reported its first annual profit in five years.On a post-results conference call with analysts on Thursday, CEO Roberto Castello Branco…
Brazil Regulator Approves Diesel Subsidy Payment to Petrobras
Brazilian oil regulator ANP said on Thursday it has approved a diesel subsidy payment to state-run oil company Petroleo Brasileiro SA of 1.04 billion reais ($277 million).ANP also said in a statement that it had denied diesel subsidy payments to Petrobras' fuel distribution unit, Petrobras Distribuidora SA.($1 = 3.76 reais)(Reporting by Gram Slattery Editing by Leslie Adler)
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, a subsidiary of state oil company Petroleo Brasileiro SA…
Petrobras to Consider LPG Unit Sale, IPO
State-controlled oil firm Petroleo Brasileiro SA will discuss alternatives for its liquefied petroleum gas distribution unit in a board meeting this week, one person with direct knowledge of the matter said. Petrobras, as the Brazilian company is known, had agreed to sell Liquigas Distribuidora SA to Ultrapar Participações SA for 2.8 billion reais ($859 million)…
Petrobras: $2 Bln Capital Injection into Fuel Distribution Arm
Brazil's state-run power company Petroleo Brasileiro said on Friday it will make a 6.3 billion real ($2 billion) capital injection into its wholly-owned fuel distribution arm Petrobras Distribuidora SA. The money from the capital injection, approved by the board of the company, will be entirely used to prepay Petrobras Distribuidora's debts guaranteed by Petrobras…
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, are attempting…
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, Parente told reporters in Brasilia.
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 more than 49 percent of the voting capital of BR Distribuidora…
Torres Junior Quits Petrobras Board
Petrobras announced that Mr. Clovis Torres Junior resigned for personal reasons, from both his positions as a board member of Petrobras and as a chairman of Petrobras Distribuidora S.A (BR). Mr. Clovis Torres Junior was the alternate of Mr. Murilo Pinto de Oliveira Ferreira in Petrobras Board of Directors and was already in leave of absence since September 14, 2015.
