Aldemir Bendine News

Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison. Judge Sergio Moro ruled that Bendine used his position at Petrobras to take 3 million reais ($924,527) in bribes from construction firm Odebrecht. "The condemned took his position as CEO of Petrobras amid a corruption scandal and with the expectation that he would solve problems," Moro wrote in his ruling. Bendine's legal team did not immediately reply to requests for comment. His attorneys said throughout the trial that he was innocent and that no company received special benefits from Petrobras or Banco do Brasil under his leadership.

Petrobras reports that it has received the letter of resignation of Mr. Aldemir Bendine the functions of a member of the Board of Directors and President of the Company today. In addition, Mr. Bendine also resigned today, the office of member of the Board of Directors of Petrobras Distribuidora - BR. In view of the resignation, the Board held a special meeting that has elected Pedro Pullen Parente engineer as a member of the Board of Petrobras today. The Council at the same meeting also elected Mr. Pedro Parente for the office of President of the Company since 05.31.2016 and has appointed the Director of Human Resources, Safety, Environment and Health and Human Services, Hugo Repsold Junior, for the interim exercise of the functions of the President of the Company.

Petrobras plans to reduce its 40 pct stake in Libra field. Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion, according to analysts at Macquarie, and is likely to attract international oil companies keen to expand in one of the world's fastest-developing oil basins. Petroleo Brasileiro SA, as Petrobras is formally known, is targeting $15.1 billion in disposals by the end of next year but has struggled to sell assets in less attractive prospects off Brazil and in the Gulf of Mexico.

Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion, according to analysts at Macquarie, and is likely to attract international oil companies keen to expand in one of the world's fastest-developing oil basins. Petroleo Brasileiro SA, as Petrobras is formally known, is targeting $15.1 billion in disposals by the end of next year but has struggled to sell assets in less attractive prospects off Brazil and in the Gulf of Mexico.