Composition of the new Executive Board is approved

Read our announcement: This Wednesday (March 30th) the Petrobras Board of Directors approved the names put forward for executive posts at the company, in line with the new administrative structure that was outlined in January. With the company’s new governance and organizational management model, there will be a 43% cut in the approximately 5,300 administrative posts in non-operational areas, well over the initial target of 30%.

Negotiations for the sale of stakes in Petrobras Argentina

We announced to the market on Wednesday (Mar. 02) that insofar as the sale of stakes in Petrobras Argentina is concerned, announced through a Material Fact on 01/20/2016, our Executive Board approved the conducting of negotiations with Pampa Energia, on an exclusive basis, for 30 days - a term that may be extended for an equal period.