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Petroleo Brasileiro Petrobras SA

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  • RIO DE JANEIRO, Jan 28- Brazil's Petrobras released unaudited third-quarter results on Wednesday after months of delays, but the state-run oil company left investors in the dark over the financial impact of a multibillion-dollar corruption scandal. Petroleo Brasileiro SA, as Petrobras is formally known, reported a net profit of 3.09 billion reais, down about...

  • RIO DE JANEIRO, Jan 28- Brazil's Petrobras reported a third-quarter unaudited net profit on Wednesday of 3.09 billion reais after its board said it was impractical to estimate the value of expected charges against earnings related to a corruption scandal. Petroleo Brasileiro SA, as the state-run oil company is formally known, said it was exploring ways to...

  • BRASILIA, Jan 27- Brazil's President Dilma Rousseff urged her cabinet on Tuesday to embrace fiscal belt-tightening and other measures aimed at restoring business confidence and growth in her second term. Rousseff pressed the need to clean up the government's overdrawn accounts by reining in waste and doing more with less, a change of economic policy that...

  • *Company plans to cut investment 30 percent, Globo says. RIO DE JANEIRO, Jan 22- Brazilian state-run oil company Petrobras will take a charge of about 10 billion reais in its delayed third-quarter results to write down overvalued assets, the O Globo newspaper reported on Thursday, citing an unnamed government source. The company's board will meet on Jan. 27 to...

  • BRASILIA, Jan 21- State-run Brazilian oil producer Petroleo Brasileiro SA does not need to curtail its multibillion-dollar investment plan because of a growing corruption scandal, Mines and Energy Minister Eduardo Braga told Reuters on Wednesday. As a result, company officials said in December they expect to cut back a five-year $221- billion investment...

  • RIO DE JANEIRO, Jan 19- Three workers were seriously hurt in an explosion on Sunday at Petrobras' 323,000- barrel-a-day Landulpho Alves Refinery outside the northeastern city of Salvador, the second serious accident at Brazil's second-largest refinery in a week. The union will stage a wildcat protest strike until Tuesday morning, Cedro Silva, a director of...

  • *Workers suffered burns to 10-75 percent of bodies. RIO DE JANEIRO, Jan 19- Three workers were seriously hurt in an explosion on Sunday at Petrobras' 323,000- barrel-a-day Landulpho Alves Refinery outside Salvador, Brazil, the second serious accident at Brazil's second-largest refinery in a week. Petroleo Brasileiro SA, as state-run Petrobras is formally...

  • RIO DE JANEIRO, Jan 14- Brazil's Petroleo Brasileiro SA expects to release unaudited third-quarter financial results on Jan. 27 after a scheduled meeting of its board of directors, the state-run oil company said Wednesday in a statement. Petrobras, as the company is known, had previously said it will release the results by the end of January.

  • RIO DE JANEIRO, Jan 14- Brazilian police early on Wednesday arrested another former executive at state-run oil company Petroleo Brasileiro SA after prosecutors accused him of continued involvement in corruption and money laundering. Nestor Cervero, former international director of the company known as Petrobras, was detained at Rio de Janeiro's...

  • RIO DE JANEIRO, Jan 8- Brazil's state-run oil company said on Thursday it produced more crude oil and related liquids in the third quarter than Exxon Mobil Corp, making Petroleo Brasileiro SA the world's largest publicly traded petroleum producer for the first time. That output was 7 percent more than the 2.065 million bpd Exxon produced in the same quarter,...

  • RIO DE JANEIRO, Jan 6- Brazil's state-run oil company, Petroleo Brasileiro SA, said on Tuesday it had completed talks with "bilateral" government creditors on the release of third-quarter financial results that have been delayed by a corruption scandal. On Dec. 29, Petrobras, the most-indebted and least-profitable major global oil company, said it would deliver...

  • RIO DE JANEIRO, Jan 6- Brazil's Petrobras completed talks with creditors about the release of its delayed unaudited third-quarter financial results, the state-run oil company said in a securities filing on Tuesday. Under the agreement, Petroleo Brasileiro SA, as Petrobras is formally known, will be able to deliver its results by the end of January as the company...

  • RIO DE JANEIRO, Jan 6- Brazil's state-run oil company Petrobras said on Tuesday that its offshore subsalt oil fields, its main source of new output, are profitable with oil at about $45 a barrel, or about 12 percent below today's quote for benchmark Brent crude. Rio de Janeiro- based Petrobras, already under pressure because of a corruption scandal that has cut it off...

  • BRASILIA, Jan 1- Brazil's President Dilma Rousseff began her second term Thursday vowing to rein in government spending to curb inflation and pull Latin America's largest economy out of a four-year slump. The first steps of this journey are an overhaul of public accounts, increasing domestic savings, beefing up investments and improving productivity, "...

  • RIO DE JANEIRO, Dec 31- Brazil's securities-market regulator CVM said on Tuesday it is investigating whether Petrobras executives failed in their legal duties to protect the state-run oil company and its investors from losses related to a giant corruption scandal. Company administrators with fiduciary duties in Brazil normally refer to top executives,...

  • RIO DE JANEIRO, Dec 29- Brazil's state-run oil company Petrobras on Monday said a growing corruption scandal may implicate its employee pension fund and has led to a freeze on payments to 23 contractors allegedly involved in the scheme. Petros, the 66 billion real employee-pension fund of Petroleo Brasileiro SA, as Petrobras is formally known, was singled out by...

  • Dec 26- Brazil's state-run oil company Petroleo Brasileiro SA and some of its executives were hit with a U.S. class action lawsuit by investors in $98 billion of the company's securities over an alleged kickback and bribery scheme. The latest case was filed on Dec. 24 in Manhattan's federal court by the Labaton Sucharow law firm on behalf of the city of Providence,...

  • BRASILIA, Dec 22- Brazil's President Dilma Rousseff said on Monday she has no plans to replace the chief executive officer of state-run oil firm Petrobras, saying there was no evidence that senior management was involved in a graft scandal at the company. Speaking at a year-end breakfast with reporters in Brasilia, Rousseff also said she will take "drastic"...

  • BRASILIA, Dec 18- A congressional committee investigating a mushrooming corruption scandal at Brazil's state-run oil company Petroleo Brasileiro SA recommended on Thursday that prosecutors bring charges against 52 people for alleged money laundering and racketeering. It now goes before the two houses of Congress for debate and a final vote.

  • Cramer: Time to tame the oil beast Wednesday, 17 Dec 2014 | 6:12 PM ET

    It's not the fact that oil prices are declining that alarms Jim Cramer, it's the velocity of the oil beast. He shared the upside to a slow decline.