by Amruth Sundarkumar | Feb 3, 2022 | Corporates
Brazil’s state-owned oil company Petrobras and Novonor (formerly Odebrecht) cancelled in “mutual agreement” its plans to sell its stake in Braskem. The announcement came after both companies declared that potential buyers did not meet expectations, without...
by Amruth Sundarkumar | Jan 10, 2022 | Corporates, High Yield Bonds
Brazilian oil major Petrobras said via an exchange filing that it expects to offload its stake in petrochemical company Braskem by February. Petrobras currently owns 36.1% of Braskem and 47% of the voting capital, while Novonor (formerly Odebrecht) owns 38.3% of...
by Amruth Sundarkumar | Nov 26, 2021 | Corporates, High Yield Bonds
Brazilian state-run oil company Petrobras announced a new five-year strategic plan. The new plan includes a payout of 60% of the difference between its operating cash flow and investment every quarter provided gross debt remains under $65bn and the company makes a...
by Amruth Sundarkumar | Nov 8, 2021 | High Yield Bonds
Brazil’s state-owned oil company Petrobras announced that it has started negotiations to sell two oil fields in the Campos Basin. An offer was placed by a consortium led by PetroRio, which has previously put forward offers to Petrobras’ Albacora and...
by Amruth Sundarkumar | Nov 1, 2021 | Corporates
Brazilian oil major Petrobras reported a net profit of BRL 31.1bn ($5.5bn), vs. losses of BRL -1.6bn (-$284mn) in 3Q2020 whilst beating estimates of BRL 20bn ($3.6bn). Revenues were up 9.8% QoQ to BRL 121.6bn ($21.6) and 72% higher YoY mainly due to the appreciation...
