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Petrobras CEO and five other executives resign

February 05/2015

MOSCOW (MRC) -- The chief executive officer and five other executives of Brazils state-controlled oil company Petroleo Brasileiro SA have resigned, the company said in a securities filing Wednesday, capping a tumultuous period for a company mired in debt and embroiled in a vast corruption scandal, reported The Wall Street Journal.

Chief executive Maria das Gracas Silva Foster will step down effective immediately, the company said, and Petrobras board of directors will meet this Friday to choose replacements for Ms. Foster and the other five departing executives.

The company didn't say in the filing who the other five executives were, and Petrobras representatives didn't immediately respond for requests for comment.

The French company would deliver flexible pipes of about 100 kilometers that would support oil production, gas lift and gas injection. These pipelines will be supplied to the Sapinhoa Norte field and I5 at Lula field, in the Santos Basin, offshore Brazil which lay at water depths of around 2,500 meters.

As MRC informed previously, in early Janury 2015, Petrobras was awarded two ultra-deepwater contracts to the project management, engineering and construction company, Technip. However, the value of the contracts has not been disclosed.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
Author:Margaret Volkova
Tags:PVC, PE, oil, petrochemistry, other pipes, Petrobras.
Category:General News
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