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Petroleo Brasileiro SA Petrobras (PBR.N)

PBR.N on New York Stock Exchange

9.31USD
4:01pm EDT
Change (% chg)

$0.15 (+1.64%)
Prev Close
$9.16
Open
$9.25
Day's High
$9.35
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$9.16
Volume
4,383,241
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$12.55
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$5.19

Latest Key Developments (Source: Significant Developments)

Karoon Gas Australia issues update on acquisition of Brazil assets
Thursday, 16 Mar 2017 09:03pm EDT 

Karoon Gas Australia Ltd : Asx alert-Brazil assets acquisition update-kar.ax . "Karoon understands that petrobras is continuing with court proceedings to have interim injunction lifted" . Current status of court proceedings is that karoon filed its legal defence in respect of main court proceedings during february 2017 . Like to clarify TCU decision is separate and distinct from court proceedings on 25 oct 2016 in court of sergipe against petrobras . "karoon welcomes decision by tcu relating to petrobras' broader divestment process" . Provide an update with respect to disposal by Petróleo Brasileiro S.A. Of Baúna and Tartaruga Verde fields .Interim injunction relating specifically to potential sale remains in force, suspending further negotiations between Petrobras and Co.  Full Article

Diamond Offshore Drilling says presiding panel of appellate judges ruled unanimously against Petrobras' appeal and upheld injunction
Wednesday, 15 Mar 2017 04:10pm EDT 

Diamond Offshore Drilling Inc : Diamond offshore drilling inc - on march 15, 2017, presiding panel of appellate judges ruled unanimously against petrobras' appeal and upheld injunction .Diamond offshore drilling inc- as a result of favorable ruling, injunction and ocean valor contract each remain in effect - sec filing.  Full Article

Brookfield Infrastructure provides update on South American natural gas transmission utility deal
Monday, 13 Feb 2017 08:17am EST 

Brookfield Infrastructure Partners Lp : Notes announcement made by petrobras relating to issuance of injunction suspending sale by Petrobras of 90% stake at NTS . Intends to take all necessary measures to protect its interests and enable NTS transaction to proceed . Expects that appeals against injunction will be heard in first half of March 2017, if not earlier .Injunction suspends sale by Petrobras of a 90% stake at Nova Transportadora Do Sudeste S.A. to a Brookfield-led consortium.  Full Article

Karoon Gas Australia confirms negotiations with Petrobras
Thursday, 6 Oct 2016 08:18pm EDT 

Karoon Gas Australia Ltd : Karoon confirms negotiations with Petrobras . Confirms it has been awarded right to negotiate a final agreement with petrobras . Awarded right to negotiate agreement, conduct confirmatory due diligence for acquisition of interest in Baúna Project, Tartaruga Development Project .Next stage of negotiation follows almost 12 months of a competitive bidding process.  Full Article

Brookfield Infrastructure Consortium to acquire South American Natural Gas Transmission Utility
Friday, 23 Sep 2016 06:52am EDT 

Brookfield Infrastructure Partners LP : Brookfield Infrastructure Consortium to acquire South American Natural Gas Transmission Utility . Deal for approximately US$5.2 billion . Petrobras, as a 10% owner in NTS, will have customary governance rights commensurate with size of its interest . Will fund proportionate share of up-front payment from existing liquidity which totalled about US$2 billion at June 30, 2016 . Have reached agreement to acquire a 90% controlling stake in Nova Transportadora Do Sudeste S.A. . Brookfield Infrastructure's investment will be a minimum of approximately 20% of transaction, representing about US$825 million . Brookfield Asset Management has agreed to participate initially for an approximate 30% interest in consortium .Purchase price payable in 2 tranches; up-front payment of us$4.3 billion on closing,balance payable on 5th anniversary of closing.  Full Article

SBM Offshore updates on status of leniency agreement
Friday, 2 Sep 2016 01:00am EDT 

SBM Offshore NV : Update on status of leniency agreement . Fifth chamber of Brazilian federal prosecutor service has not approved leniency agreement signed by Brazilian authorities, Petrobras and SBM Offshore .Company is seeking clarification on decision and will update market accordingly.  Full Article

Diamond Offshore says unit received notice of termination from Petroleo Brasileiro
Thursday, 1 Sep 2016 06:25am EDT 

Diamond Offshore Drilling Inc : On August 30, 2016, unit received notice of termination from Petroleo Brasileiro S.A. of drilling contract on Ocean Valor . Co does not believe Petrobras had valid/lawful basis for terminating contract, co to defend rights of unit under contract . Drilling contract was estimated to conclude in accordance with its terms in October 2018 - SEC filing Source: (http://bit.ly/2bXomra ) Further company coverage: [DO.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Petrobras CEO expects to make decision on binding offers for BR Distribuidora in Q1 2017
Monday, 29 Aug 2016 07:39am EDT 

Petrobras CEO Pedro Parente told reporters on the sidelines of the ONS oil conference in Stavanger, Norway, on Monday: Expects to make decision on binding proposals for BR Distribuidora in Q1 2017. Says: "The binding proposals we assess that we are going to have them by the end of this year and then first quarter next year we will have a decision on this issue." . Says has as not yet received offers for BR Distribuidora (Reporting by Gwladys Fouche and Karolin Schaps) ((gwladys.fouche@thomsonreuters.com;)).  Full Article

Keppel Corp responds to media reports on ongoing investigations on Petrobras
Wednesday, 3 Aug 2016 09:34am EDT 

Keppel Corporation: Keppel Corporation response to media reports on ongoing investigations on Petrobras . Refers to Bloomberg article dated August 3, 2016 reporting allegations made by Zwi Skornicki in criminal proceedings brought against him in Brazil . None of individuals named in article, including current CEO of Keppel Offshore and Chow Yew Yuen, have ever authorized Skornicki to make any payments as bribes .Keppel strongly denies the allegations reportedly made that Keppel executives authorized Skornicki to pay bribes on its behalf.  Full Article

Petrobras working hard to meet $15.1 bln asset-sale goal
Friday, 29 Jul 2016 09:30am EDT 

Petroleo Brasilerio SA, or Petrobras, Chief Financial Officer Ivan Monteiro and Exploration and Production chief Solange Guedes spoke to reporters in Sao Paulo about the company's agreement to sell its 66 percent stake in the BM-S-8 offshore block, home to the giant Carcara field, to Norway's Statoil ASA . : Recent Petrobras asset sales an important sign company is moving forward with large plan to sell assets including BR Distribuidora fuels unit and onshore oil fields. . Petrobras says strategy and asset-sale plan is based on generating cash in the near term. . Petrobras CFO Monteiro says sale of Chile, Argentina, and Brazil offshore and petrochemical assets shows company is keeping its promises. . Petrobras exploration and production chief says sale of 66 percent stake in offshore Carcará field to Norway's Statoil will free up cash for investments that will have expected return sooner. . Petrobras says Carcara offshore oil stake sold to Statoil will only bring return to owners in next decade. . Petrobras says Carcara field sold to Statoil will require equipment that is very different than Petrobras' existing subsalt systems and will cost 25 percent to 30 percent more than its standard offshore systems..  Full Article

More From Around the Web

Brazil to start oil sales from production sharing contracts: executive

SAO PAULO Brazil will start to sell oil and natural gas from production sharing contracts with oil companies around September, the head of the state firm managing these contracts, Ibsen Flores, told Reuters on Tuesday.