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Petroleo Brasileiro SA Petrobras (PBR.N)

PBR.N on New York Stock Exchange

24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Brookfield - notes announcement made by Petrobras of favorable court decision
Thursday, 9 Mar 2017 07:35pm EST 

Brookfield Infrastructure Partners Lp : Notes announcement made by Petróleo Brasileiro S.A. Of favorable court decision . Brookfield Infrastructure - court decision removes enables Petrobras to proceed with sale of a 90% stake at Nova Transportadora to co-led consortium .Brookfield Infrastructure Partners-parties remain committed to closing transaction in an expedited timeframe on satisfaction of remaining conditions.  Full Article

Total and Petrobras seal strategic alliance by signing definitive contracts
Wednesday, 1 Mar 2017 05:23am EST 

Total Sa : Have signed definitive contracts in relation to the package of assets contemplated in the strategic alliance . Contracts signed yesterday seal strategic alliance between petrobras & co creating new partnerships in upstream and downstream sectors . Alliance should allow both co & petrobras to combine their internationally recognized expertise on all segments of oil and gas value chain in brazil,internationally .Petrobras will transfer 22.5% of rights to total in concession area named iara in block bm-s-11.  Full Article

Statoil CEO sees further upside to Sverdrup field reserve estimates
Tuesday, 7 Feb 2017 05:16am EST 

Statoil Asa : CEO says "there are definitely upsides attached" to the latest Johan Sverdrup reserves estimates, which now stands at 2.0-3.0 billion barrels of oil equivalents . CFO says Johan Castberg field development cost now seen at NOK "45-plus billion" ($5.40 billion) versus NOK 50-60 billion seen 12 months ago . CEO says break-even cost of Brazil's Peregrino II project now below $45 per barrel . Both CEO Eldar Saetre and CFO Hans Jakob Hegge spoke on the sidelines of Statoil's earnings and strategy update in London Further company coverage: [STL.OL] ($1 = 8.3342 Norwegian crowns) (Reporting by Nerijus Adomaitis, writing by Terje Solsvik, editing by Gwladys Fouche) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Brazil's Petrobras raises LPG price 12.3 pct starting Dec 7
Tuesday, 6 Dec 2016 01:12pm EST 

Brazil's state-run oil company Petroleo Brasileiro SA Petrobras says on Tuesday: Liquified-petroleum gas (LPG) prices for wholesale distrubtors will rise starting Dec. 7 by 12.3 pct . The price increase will not affect retail sales of 13-kg tanks, which are widely used in Brazil for kitchen cooking gas . Late on Monday, Petrobras announced an increase in wholesale gasoline and diesel fuel prices in Brazil by 9.5 percent and 8.1 percent, respectively Related stories on Eikon: [ID:nE6N1CG035] Further company coverage: [PETR4.SA] ((reese.ewing@thomsonreuters.com;)).  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

More From Around the Web


Brazil court rules in favor of Petrobras in tax deduction case

SAO PAULO A Brazilian tax court ruled that state-controlled oil company Petróleo Brasileiro SA did not break the law by deducting expenses related to the development of oil and gas field from its 2009 income taxes.