Petrobras shareholders approve restructure
Shareholders of Brazil's state-run oil company Petrobras have approved a restructuring plan aimed at slashing costs and reducing debt.
Changes include the axing of one of the company's seven board positions and a management downsize, the company said in a stock exchange filing on Thursday.
Just over two thirds (67.3%) of shareholders voted in favor of the plan, with 6.2% opposing it and 26.4% abstaining.
Petrobras has been beset by a corruption scandal that has led to jail terms for several former executives and dragged Brazil into a spiraling economic and political crisis.
At around US$130bn, Petrobras' debt is the largest of any oil company.
Last month the Rio de Janeiro-based firm reported a 2015 loss of 34.8bn reais (US$9.64bn) – its worst ever full-year result.
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
News in: Oil & Gas (Brazil)
Brazil’s Capixaba Energia secures gas supply contract
The firm will provide natural gas to ceramic coatings manufacturer Biancogrês, a source tells BNamericas.
Spotlight: Petrobras' new batch of offshore drilling rigs
Seven units are starting new contracts with the Brazilian state-run firm between this month and November 2023.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Oil & Gas (Brazil)
Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Block POT-T-789
- Current stage:
- Updated:
6 days ago
- Project: FPSO P-85
- Current stage:
- Updated:
1 week ago
- Project: Field Lapa (Carioca)
- Current stage:
- Updated:
2 weeks ago
- Project: FPSO P-84
- Current stage:
- Updated:
2 weeks ago
- Project: Block C-M-659
- Current stage:
- Updated:
3 weeks ago
- Project: Block FZA-M-59
- Current stage:
- Updated:
3 weeks ago
- Project: FPSO P-82
- Current stage:
- Updated:
3 weeks ago
- Project: Block POT-T-664
- Current stage:
- Updated:
3 weeks ago
- Project: Block POT-T-665
- Current stage:
- Updated:
3 weeks ago
- Project: Block REC-T-164
- Current stage:
- Updated:
3 weeks ago
Other companies in: Oil & Gas (Brazil)
Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Galp Energia Brasil, S.A. (Galp Energia Brasil)
-
Galp Energia Brasil, S.A. is a Brazilian subsidiary of Portugal's integrated energy corporation Galp. The company owns a stake in several exploration blocks in Brazil, acquired ...
- Company: Transportadora Associada de Gás S.A. (TAG) (TAG)
-
Transportadora Associada de Gas (TAG), established in 2002, operates gas pipelines for the transportation of natural gas, mainly in the north, northeast and southeast regions of...
- Company: NALCO Water
-
Ecolab is a trusted partner at nearly three million customer locations, Ecolab (ECL) is a global leader in water, hygiene and energy technologies and services that protect peopl...
- Company: Carmo Energy S.A. (Carmo Energy)
- Company: Construções e Comércio Camargo Corrêa S.A. (CCCC)
-
Construções e Comércio Camargo Corrêa (CCCC), a subsidiary of the Camargo Corrêa group, provides a variety of services, such as construction, ground works, engineering works; hy...
- Company: Origem Energia S.A. (Origem Energia)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: PetroRio S.A. (PRIO)
-
PRIO, formerly HRT Participações em Petróleo S.A., engages in the exploration, development, production, distribution, and sale of oil and natural gas. The company has operations...
- Company: GE Power Conversion Brasil Ltda. (GE Power Conversion Brasil)
-
GE Power Conversion Brasil Ltda. Is the Brazilian subsidiary of GE Power Conversion, a division of the GE group that operates as a provider of energy conversion systems for the ...
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
