Standard & Poor's improves our risk rating

internacionalWe report that the Standard & Poor’s risk rating agency has announced the upgrade of our corporate debt rating from B+ to BB-, and that it has changed the outlook from negative to stable.

The agency noted in its report that the improvement in our rating reflects the evolution made in our liquidity and a robust cash position that improves our capacity to deal with possible contingencies. The agency also highlighted the recovery of the relationship with domestic and international banks and of our ability to access the capital markets, which it regarded as positive debt management transactions. Also highlighted was the progress made in the disinvestment program and the prospects for achieving the goal set for 2017 and 2018.

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Fitch maintains our credit rating

grafico-peqThe Fitch risk rating agency announced the maintenance of our corporate debt rating at BB, with a negative outlook.

In its report, the agency said that the company’s liquidity is currently supported by a robust cash position, stable cash generation, and by its ability to access the capital markets to refinance its debt.

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Leniency agreement foresees an additional R$81 million in compensation

senado-peqWe are going to receive about R$81 million from British outfit Rolls-Royce, which signed a leniency agreement with the Federal Public Prosecutor’s Office (MPF) under the “Car Wash” Operation. The agreement provides for the full reimbursement of the net profit the company obtained in six contracts to supply goods and services to Petrobras. It also includes the full amount paid as commission to middlemen hired to act against the company and the payment of a fine, provided for under the Misconduct Act, equivalent to the amount of the commissions paid to such intermediaries.

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We had the best debt management operations in 2016

latinfinance-peqWe were granted the "Corporate Liability Management of the Year" award by LatinFinance magazine, late Thursday evening, in New York, for having been considered the company with the best debt management operation on the international capital markets in 2016.

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We reached our output target for the second year in a row and set historical records

FPSO_mangaratiba-peqOur average oil output in Brazil set an annual historical record in 2016, coming in at 2,144,256 barrels per day (bpd), 0.75 percent more than a year ago and in line with the 2,145,000 bpd target for the period. We met our planning for the second year in a row, underpinning our commitment to the predictability of our projections.

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Partnership and divestiture plan moves forward with the sale of Petrobras Chile

expansao-chile-peqWe completed the sale transaction of 100 percent of Petrobras Chile Distribuición Ltda (PCD) to the Southern Cross Group. The deal had been signed on July 22, 2016. The value of the cash inflow resulting from the transaction was $470 million. Of the total, $90 million derived from the distribution of PCD dividends net of taxes, on December 9, 2016, and the Southern Cross Group paid the remaining amount of $380 million today. This figure is still subject to final adjustments.

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Nansei Sekiyu sale completed

okinawa-peqYesterday, we completed the sale of 100 percent of our stakes in Nansei Sekiyu (“NSS”) to Taiyo Oil Company (“Taiyo”).  The transaction was completed with the payment of $165 million by Taiyo, after all conditions precedent stipulated in the contract signed on October 17, 2016 had been met. This figure is still subject to final adjustments.

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We have sold assets in the sugar, ethanol, and petrochemical areas for $587 million

assinatura-acucarWe closed two asset sales totaling $587 million today. The Petrobras Biocombustível subsidiary (PBIO) sold to Tereos Participations - a company belonging to French group Tereos - all its stakes in Guarani, corresponding to 45.97 percent of the company's capital, for $202 million. Our Board of Directors (BoD) also approved the sale of Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and of Companhia Integrada Têxtil de Pernambuco (Citepe) to two subsidiaries of Mexican outfit Alpek. The transaction was worth $385 million.

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We have advanced in our strategic alliance with Total with the signing of new agreements

parente-total-peqWe signed a Master Agreement with French outfit Total today related to the strategic collaboration set forth in the memorandum of understanding signed on October 24 by our CEO Pedro Parente and Total CEO Patrick Pouyanné.

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We are recognized for leadership in environmental management in the Carbon Disclosure Project Report

funcionario1-peqThe international organization Carbon Disclosure Project (CDP) has included us for the first time in a select list of companies that lead the Annual Climate Change Report ranking in commitment to reducing emissions. We have been granted the Leading Company certificate for standing out for good environmental management practices.

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