ADVFN - Advanced Financial Network.
HOME» NYSE » P » PBR Stock Price » PBR Stock News

Petroleo Brasileiro Share News

 Petroleo Brasileiro S.a. Stock Price
PBR Stock Price
 Petroleo Brasileiro S.a. Stock Chart
PBR Stock Chart
 Petroleo Brasileiro S.a. Stock News
PBR Stock News
 Petroleo Brasileiro S.a. Company Information
PBR Company Information
 Petroleo Brasileiro S.a. Stock Trades
PBR Stock Trades

Brazil Energy Min: Petrobras To Invest $500 Million In Argentina In 2012

BRASILIA -(Dow Jones)- Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will invest $500 million in Argentina this year in an effort to boost production, Mines and Energy Minister Edison Lobao said Friday. Lobao and Argentine Planning Minister Julio de Vido spoke with reporters after a meeting in Brazil's capital, and included Petrobras Chief Executive Maria das Gracas Foster. Lobao said that Petrobras invested about the same amount in Argentina last year. The meeting took place after Argentina's Neuquen province revoked a concession held by the local affiliate of Petrobras, known as Petrobras Argentina SA (PZE, PESA.BA). Argentina's top oil-and-gas-producing provinces have revoked a number of concessions in recent weeks as President Cristina Kirchner tries to force energy companies to invest more in production and exploration. The country also is in the process of expropriating a 51% stake in national oil company YPF from Spain's Repsol (REP). De Vido also said Friday that he will meet with other oil companies next week, including U.S. oil majors Chevron Corp. (CVX), ExxonMobil (XOM), Conoco Phillips (COP) and China's Sinopec. The minister, who will take over as head of YPF under Argentina's nationalization plan, declined to give any details about the meetings. Brazil, however, "trusts" its relationship with the Argentine government and doesn't see any risk that Petrobras's assets in the country will also be nationalized, Lobao said. The investments planned by Petrobras are aimed at boosting the company's share of the Argentine market to 15% in coming years, up from about 8% currently, Lobao said. -By Jeffrey T. Lewis and Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; Jeff.Fick@dowjones.com

Stock News for Petroleo Brasileiro (PBR)
DateTimeHeadline
07/28/201510:30:03Brazil Corruption Probe Spreads to Eletrobras
07/24/201522:27:16Brazilian Prosecutors File Charges Against Odebrecht Chief, Others...
07/24/201519:41:46Brazilian Prosecutors File Charges Against Odebrecht Chief, Others
07/24/201513:10:08Brazilian Prosecutors to File Charges Against Odebrecht Chief
07/22/201521:10:31Swiss Authorities Open Investigation Into Brazil's Odebrecht
07/22/201519:45:14ADRs End Lower; National Bank of Greece, Petrobras Trade Actively
07/22/201519:22:44Swiss Authorities Open Investigation Into Brazil's Odebrecht
07/21/201517:15:15Brazilian Stocks Fall, Currency Strengthens
07/21/201505:34:08Dof Gets Vessel Contracts Worth NOK575 Million
07/20/201518:10:07Former Construction Executives Sentenced in Petrobras Case
07/17/201515:00:20Brazil's House Speaker Splits With Government
07/14/201511:40:11Brazil Police Seize Documents From Politicians in Petrobras Probe
07/02/201508:50:04Brazil Federal Police Arrest Another Former Petrobras Executive
07/01/201519:30:38Former Petrobras Executive Seeking Plea Deal With Prosecutors
06/29/201519:45:34Petrobras Rules Out Issuing New Shares
06/29/201517:51:48ADRs End Lower; National Bank of Greece Drops Sharply
06/29/201511:00:08Brazil's President Seeks Investment During U.S. Visit
06/29/201510:49:47Brazil's President Seeks Investment During U.S. Visit
06/29/201509:50:07Brazil's Petrobras Slashes 5-Year Investment Budget
06/29/201504:21:16Sevan Marine Investigates as Ex-Employee Named in Corruption...

Petroleo Brasileiro and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad