State-controlled Petróleo Brasileiro SA raised $6.75 billion on Tuesday from a sale of five- and 10-year dollar-denominated bonds, in a closely watched return to global debt markets after the suspension of Brazilian President Dilma Rousseff.

South America’s two largest oil producing nations face bigger threats from political turmoil than depressed crude prices, but reforms in their national oil companies (NOC) and energy ministries may be essential for their governments to survive.

Brazil’s troubled state-run oil company Petróleo Brasileiro SA on Friday announced a beefed up voluntary layoff program that could affect up to 12,000 jobs amid intense efforts to cut costs.

Rosneft Brasil (Rosneft subsidiary) and PetroRio received approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) for the Rosneft Brasil transaction to acquire additional 55% in the Solimoes project. Under the agreement the final completion date of the purchase and transaction shall be agreed between PetroRio and Rosneft Brasil and is expect to occur within 30 days.

Oil & gas output from ultra-deepwater (>1,000m water depth) fields will continue the relentless growth seen in recent years. In the latest World Drilling & Production Forecast, Douglas-Westwood predict combined oil & gas production from such fields will grow 7.7% year-on-year over 2015-2021 from 6.5 mboe/d to 10.2 mboe/d.

A corruption investigation that has already engulfed Brazil’s state-run oil giant Petroleo Brasileiro SA has spread to the health ministry and state-owned bank Caixa Econômica Federal, authorities said Friday.

Petróleo Brasileiro SA plans to dispose of as much as $13.7 billion in assets this year and next as part of efforts by Brazil's largest state-controlled company to reduce debt and protect cash.

Brazil's state-run oil company Petrobras' debt was downgraded to junk status on Tuesday by Moody's Investors Service. Moody’s Lowers Rating of 5 Russian Companies, Including Transneft.

Oil-price collapse may aggravate producing nations’ other problems

Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA (Petrobras) since 2012, has resigned along with five other senior executives.