Petrobras, in continuation to the material facts of 10/6/2016, 12/20/2016, and 3/15/2017 and to the press release of 11/21/2016, clarifies that it has notified the Federal Supreme Court of the impossibility to proceed with the divestment process for the transfer of rights relating to the fields of Baúna and Tartaruga Verde. Furthermore on today's date the company submitted the same information to the Federal Court of Aracaju, requesting the termination of court proceedings.
Petrobras reports that in the meeting held yesterday Petrobras' Board of Directors approved the reelection of CEO Pedro Pullen Parente for a two-year term in the Company's Executive Office.
Petrobras, in continuation to the material fact disclosed on December 28, 2016, informs that, today, the Shareholders’ Extraordinary General Meeting approved the sale of 100% of the shares held by Petrobras in PetroquímicaSuape and Citepe to Grupo Petrotemex S.A. de C.V. and Dak Americas Exterior, S.L, subsidiaries of Alpek, S.A.B. de C.V. (“Alpek”), for the amount of US$ 385 million, which will be paid on the closing date, and it is subject to working capital, net debt, and recoverable taxes adjustments.
Petrobras informs that Mr. Paulo José dos Reis Souza, member of the Fiscal Council, submitted his resignation to the post, effective on March 27, 2017.
Petrobras would like to inform that the Administrative Board of Tax Appeals (CARF) issued on 3/22/17 a decision in favor of the Company, in the administrative proceeding that addresses the deductibility of expenses incurred by Petrobras in the development of oil and gas production, for the purposes of calculating the Income Tax for Legal Entities (IRPJ) and Social Contribution on Net Profits (CSLL) for the 2009 period. However, the Company has not yet been notified of the content of the decision, so that its legal department can proceed to an appropriate analysis.
Petrobras and its partners are committed to implementing the production sharing agreement (PSA) for the Libra area, executed in 2013 and for which Libra Pilot, the first definitive production system, scheduled for late 2020, is an important milestone.
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Petrobras clarifies that it offered for sale by auction, seven drilling rigs, due to the move to reduce costs that the company has been pursuing in line with its Strategic Plan/PNG 2017-21.
Petrobras informs that it was notified by BlackRock, Inc. ("BlackRock") that the latter has sold preferred shares issued by the company, and as of March 17, 2017 it manages shareholding interest less than 5% of the preferred shares issued by Petrobras, and no longer qualifies as holder of significant shareholding interest in the capital stock of the company.
Petrobras, in continuation to the material facts disclosed on 12/8/2016 and 12/20/2016, reports that the decision by the Federal Accounting Court (TCU) issued today, repealed the preventive order preventing the company from initiating new divestment projects and concluding those in progress and, as for the merit, ordered Petrobras to adopt its reviewed divestment process methodology for the divestment projects of the company.