News

First Quarter 2016 Results

Read our announcement: Petrobras posted losses of R$1.2 billion in 1Q16, mainly due to: • higher interest costs, and negative monetary and exchange rate variations; • 7% reduction in oil and natural gas production (in Brazil and abroad); • 8% decline in sales of oil products in the domestic market; • an increase in depreciation costs; and

Credit Facility with China Exim Bank

Read our announcement: Petrobras has signed a term sheet with China Exim Bank (Export-Import Bank of China) containing the main terms and conditions for a US$1 billion loan. The final loan agreement is already being negotiated, anticipating the funding planned for 2017.

Sale of distribution assets in Chile

Read our announcement: Petrobras has completed negotiations with the Southern Cross Group on the main terms and conditions for the sale of 100% of Petrobras Chile Distribución Ltda. (“PCD”), owned through Petrobras Caribe Ltd. Southern Cross Group is a private equity fund, founded in 1988, with USD 2.9 billion of assets under management and focuses on investments in Latin America, in companies in the manufacturing, services, logistics and consumer goods sectors.

Sale of Petrobras Argentina

Read our announcement: Petrobras has completed negotiations with Pampa Energía on the main terms and conditions of the sale of its stake in Petrobras Argentina (PESA), owned by Petrobras Participaciones S.L. ("PPSL"). Pampa Energía, a public traded company, is an integrated energy company in Argentina operating in the oil and gas sector as well as in the generation, transmission and distribution of electric energy sector.