Wolfe64
4 years ago
ADDED. $PBR so tasty.
After a conversation with Kuwaiti diplomats in Brasília, President Jair Bolsonaro (without a party) said that the price of oil should rise. In his assessment, this demonstrates the need for a change in command at Petrobras. The president met with Kuwait's ambassador to Brazil, Nasser Riden Almotairi, around lunchtime today. The country is one of the largest oil producers in the world. Upon leaving, the president said that the Arabs are not satisfied with the price of the product
"They think the price is not yet adequate and we could see an increase in oil in the coming weeks," the president said today. "This complicates for us and reinforces our interest in effectively changing the president of Petrobras because we want to - not interfere as we never did. Now, Petrobras can collaborate with other agencies in combating cartels, adulterating fuels, the issue of to diversify the refineries issue as much as possible ... ", he enumerated .... -
eFinanceMarkets
8 years ago
$PBR Petrobras says Libra test production could start by late September
Petrobras (PBR +3.9%) says oil production from the first rig to operate in the offshore Libra area should start in late September or October, after technical problems delayed officials' previous forecast of a July start.
The PBR-led consortium had problems connecting the well to the rig, as it prepares the extended duration production test with a view to initially produce 30K bbl/day of oil per day.
Separately, a Brazilian federal court temporarily halts PBR's sale of a 50% stake in thermal power station operator TermoBahia to Total (TOT +1.5%), which was part of a $2.2B deal signed in December as part of a strategic alliance between the two companies.
Finally, Brazilian prosecutors today filed corruption and money laundering charges against former PBR CEO Aldemir Bendine; he has been under arrest since late July for his alleged role in the crime.
eFinanceMarkets
8 years ago
$PBR Brazil prosecutors to probe Petrobras Argentina sale, lawyer says
Prosecutors investigating Brazil's corruption scandal will probe last year's sale of Petrobras' (PBR, PZE) Argentine subsidiary of Petrobras, says a lawyer representing the state oil company's minority shareholder.
PBR sold its 67.2% stake in Petrobras Argentina in May 2016 for $892M to Pampa Energia, after buying the Argentine unit from Perez Companc in 2002 for $1B, plus $2B in debt.
Aldemir Bendine, PBR'S CEO at the time of the sale, was jailed last month on suspicion he received bribes from the Odebrecht construction firm, part of the scandal that has led to the arrest of dozens of executives and politicians.