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RIO DE JANEIRO: The chief executive and other senior management at Brazil's Petrobras resigned on Wednesday amid a festering corruption scandal, setting off a scramble to find replacements capable of restoring investor confidence in the state-run oil company.
RIO DE JANEIRO: Petrobras, Brazil's state-run oil company, could be declared in technical default on some of its foreign debt as early as Tuesday if bondholders pursue efforts to force it to speed up its assessment of losses in a giant corruption scandal.
PETALING JAYA: SapuraKencana Petroleum Bhd does not expect the uncertainties surrounding the financing ability of Brazilian energy giant Petrَleo Brasileiro SA (Petrobras), which accounts for around 50% of the former’s outstanding orderbook, to pose a significant risk to the company.
RIO DE JANEIRO: Brazil’s state-run oil company Petrobras will likely delay details of major cuts to its US$221bil five-year spending plan until July, two sources said, when the government plans to announce a rescue programme for the industry.
RIO DE JANEIRO: Ratings firms have expressed concern about a Brazilian government decision to sell billions of dollars worth of offshore oil rights to Petrobras, saying the move will weigh on the state-run oil company’s cash flow and creditworthiness.
RIO DE JANEIRO: Brazil’s state-run oil company Petroleo Brasileiro SA (Petrobras) settled four lawsuits brought by investors including Pacific Investment Management Co after the nation’s biggest-ever corruption case torpedoed the company’s market value.
SAO PAULO: U.S. oil company Exxon Mobil Corp
RIO DE JANEIRO: Brazil’s Petrobras failed to get its third-quarter earnings approved by PriceWaterhouseCoopers (PwC) as the auditing firm demanded wider investigation into a corruption scandal plaguing the state-run oil company, newspaper O Estado de S.Paulo said.
RIO DE JANEIRO: Petrobras, carrying the largest debt load among global oil majors, is rolling a year’s worth of promises into a week of significant announcements aimed at trimming the gap before an unpredictable presidential campaign starts to gear up.