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Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) commenced process of offloading four refineries

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)has commenced the process of offloading four refineries namely Rnest, Rian, Repar and Refap. The move is part of a broader plan of the Brazilian oil giant to jettison eight of its refineries that constitute 50% of refining capacity in the country. The company’s CEO believes that the divestment of […]

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Business FEATURED

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) will leave natural gas distribution sector in Brazil

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) will leave the natural gas distribution sector in Brazil, disposing of all of its assets in the area, Chief Executive Officer Roberto Castello Branco said on Thursday. The top executive of Petroleo Brasileiro SA, as the company is formally known, said he will comply with all the instructions from Brazil’s antitrust regulator CADE, as the government seeks to […]

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Business FEATURED Markets

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stake sale rises $1.9 billion for Brazil’s Caixa

Caixa Economica Federal raised about 7.3 billion reais ($1.9 billion) by selling a stake in oil and gas giant Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), as Brazil’s biggest state-owned lender works to help the government reduce its debt. Caixa on Tuesday sold about 241.3 million shares at 30.25 reais apiece, Petrobras said Wednesday in a filing. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares tanked -0.75% to finally closed at $15.86 in last active […]

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FEATURED Markets

Pre-market Mover : Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) said it will carry out a new round of final offers for its Enchova and Pampo shallow water oil clusters off the coast of Rio de Janeiro. Petroleo Brasileiropriced a secondary share offering on Tuesday at 30.25 reais per common share. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares slumped -3.68% to finally closed at $15.98 in last active session.  PBR’s distance from 20 day […]