Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) Offloads Oil Field AssetFor $2.5 Billion

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has reached an agreement for the sale of a majority stake in an offshore oil block in Brazil to Norwegian oil company Statoil ASA ADR (NYSE:STO). According to a statement from the Norwegian company, the deal is worth $2.5 billion for a 66% stake in the BM-S-8 offshore license, […]

How Will Seadrill Ltd (NYSE:SDRL) Be Impacted Due To Customer Concentration

In an article published on “The Motley Fool”, the author highlighted one crucial risk that Seadrill Ltd (NYSE:SDRL) investors might not be aware about. As of now, the two big largest threat faced by investors are declining oil prices and the surplus of oil rigs, particularly of the ultra-deepwater, high margin variety. These two are […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Corruption Scandal Worsens

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has still been dealing with the corruption scandal that hit the company last month. Recently, the Brazilian regulatory authority, CVM, interrogated the board members of Petrobras in relation to the case. The ex-finance minister of the country, Guido Mantega, is also being interrogated for the same reason. Alberto Youssef, […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Sorts Out its Costs for FY2015

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is one Brazilian company that has its finances for the year all set out. The company has approved a funding of $6.12 billion in credit and cost of sales for the year. The announcement, however, came after the company failed to report its 3Q2014. PBR stated that the delay […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Reports Loss of $7.2 billion

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has reportedly lost a massive $2 billion in bribery related costs. The company announced a total loss of about $7.2 billion on Wednesday. Petrobras’ CEO and five other high-ranking officials have resigned over the scandal. The former executives of the company have been accused by Federal prosecutors of diverting […]

New CEO Tries to Save Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has been having quite a lot of problems and the new CEO, Aldemir Bendine, is nearing to overcome just the first one. A banker by profession, the new CEO has been having a hard time getting auditors to approve the first financial results under his tenure. The company now […]

Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR) Petrobras : Protests Across Brazil Seek Ouster Of President

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has once again found itself at the Centre of controversy. Anti-government protests in Brazil entered day two, over which the company has a major involvement. The protests are pressing upon President Dilma Rousseff, raising her disapproval ratings due to the involvement in corruption allegations with the state oil company, […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Corruption Allegations Refuse To Die

Boston, MA 11/23/2014 (wallstreetpr) –  Authorities in Brazil were forced to fight back after a magazine alleged that the country’s president had a lot to do with the escalating scandal surrounding Petrobras. Dilma Rousseff press service has already lambasted Veja magazine for alleging that former Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) director Paulo Roberto Costa […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Went Overboard On Its Comperj Refinery Spent

Boston, MA 10/16/2014 (wallstreetpr) – The tribunal looking at the state spending has come to acknowledge that Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is surely not keeping up with its budget. According to Tribunal, the state-run producer has crossed its budget by over 60% for one of its refineries, Comperj. The audit into the company’s […]

Stocks On Radar: Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Covidien plc (NYSE:COV), National Bank of Greece (ADR) (NYSE:NBG)

Boston, MA 10/16/2014 (wallstreetpr) – The integrated oil and gas producer from Brazil, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) saw the share price of its ADR plummet by nearly 9 percent to end at $15.55 at close of October 15th trading. The huge sell off is an continuation of the volatility the stock has been […]

Scandal hit Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) becomes part o a latest allegation by former director

Boston, MA 10/10/2014 (wallstreetpr) – Paulo Roberto Costa, a former director of the Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) and currency broker Alberto Youssef have claimed, while testifying in the Brazilian Court of Justice that the treasurer of the Workers’ Party, which is the present ruling party, had received bribes from various works that were […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR): May find $18 difficult to cross

Boston, MA 10/07/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) (Closed: 15.80, Up: 13.10%) made a huge jump on the back of further advancement of the Brazilian Presidential candidate Aceio Neves, strengthening the possibility of seeing the end of price control in gasoline. An upgrade in rating to “Buy” by UBS analysts and a […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Books Losses On President Rouseff’s Comments

Boston, MA 09/29/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) nosedived by more than 11% during opening trade session today after the Brazilian President Dilma Rousseff called the company’s contributions to fund 2010 candidacy of Rousseff is baseless. The comments referred to an newspaper article that appeared in the weekly edition of Veja, disclosing […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) – Exit On Any Bounce

Boston, MA 09/15/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR) (Closed:16.38, Down:7.09%) kept crashing from the 22-month high at $20.94 it had hit earlier in the month, on the back of the pledge of higher fuel tax coming from the camp of Brazil’s Presidential candidate Marina Silva. It opened with a sharp gap down and kept […]

Foro Energy and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Sign Technology Cooperation Agreement

Boston, MA 08/26/2014 (wallstreetpr) – According to reports, Foro Energy and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) have decided to sign a technology cooperation agreement. The main agenda of this agreement is to initiate high power laser drilling research and development activities. This program will be initiated with the support of CENPES (Leopoldo Americo Miguez […]