Petrobras Terminates Contract with Forbes & Manhattan After Failure to Meet Financial Obligations at SIX

Written by Bruno Teles

Published on 11/07/2023 at 15:20

FOTO: Paraná Xisto S.A

Be the first to react!

Canadian Company Owes R$140 Million to Petrobrás, Resulting in the Suspension of the Temporary Administrative Support and Technical Support Contract for the Refinery Operation.

Petrobrás was forced to suspend the contract with the Canadian company Forbes&Manhattan due to a debt estimated at around R$140 million. Thus, the state-owned company suspended the activities of the Temporary Administrative Support and Technical Support Contract for the Refinery Operation, which was being carried out by Paraná Xisto S.A, Shale Industrialization unit – SIX.

This disclosure was made by the director of the Single Federation of Oil Workers (FUP), Deyvid Bacelar. He emphasizes that this incident is just another one of the scandals occurring at SIX, highlighting the financial and operational incapacity of the group that acquired the refinery in Paraná. Additionally, Bacelar pointed out the connection between Forbes&Manhattan and former Petrobrás managers. The communication from Petrobrás suspending the contract was disclosed through a note directed to oil workers.

Privatization of SIX in 2022 Allowed Forbes&Manhattan’s Intervention, But Generates Controversies and Lawsuits

In November 2022, SIX, located in São Mateus do Sul, Paraná, was privatized by the Canadian group Forbes&Manhattan for a value of R$33 million. According to the established contract, Petrobrás would continue to manage the unit until the new company, Paraná Xisto, was ready to operate independently.

ARTICLE CONTINUES BELOW

Previous Problems Involving Forbes&Manhattan and Their Consequences

This new episode joins a series of initiatives already taken by oil workers’ lawyers regarding Forbes&Manhattan. These actions include irregularities in the sale process of the refinery in Paraná, issues related to the production and exploration of shale, as well as environmental concerns.

Bacelar stressed that the fight against the privatization of SIX is still ongoing and highlighted the existence of ongoing lawsuits related to the sale and environmental issues. FUP states that Petrobrás did not conduct the mandatory environmental audit, that the method of selling SIX was illegal due to the concession nature of the unit, rather than exploration and production, and therefore, the sale would not comply with municipal decree number 9355.

The sale itself is said to have been executed for a value below the market price, resulting in losses for Petrobrás’ own shareholders. This situation reveals financial and operational problems of the group that acquired the refinery in Paraná.

Petrobras Terminates Contract with Forbes & Manhattan After Failure to Meet Financial Obligations at SIX

Canadian Company Owes R$140 Million to Petrobrás, Resulting in the Suspension of the Temporary Administrative Support and Technical Support Contract for the Refinery Operation.

Privatization of SIX in 2022 Allowed Forbes&Manhattan’s Intervention, But Generates Controversies and Lawsuits

Previous Problems Involving Forbes&Manhattan and Their Consequences

Dissatisfied with seeing people sleeping on the street, a man named Ryan Donais started building small mobile homes so that homeless people can escape the cold, each equipped with a bed, running water, electricity, and heating.

Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

A giant brown band visible from space, approximately 8,850 kilometers long, connected Africa to America in the Atlantic Ocean, and satellites revealed that it is neither land nor pollution, but the largest accumulation of seaweed in the world, which broke records in 2025.

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

Two 17-year-old Kenyans use coconut shells, corn cobs, and recycled materials to create an exhaust filter that reduces 93.3% of pollutant particles and wins an environmental award in Africa.

Consumers eat six times more chicken than in the 1960s, global meat supply quadruples in 60 years, and FAO report reveals the invisible cost on the plate: livestock could drive 80% of the increase in agricultural emissions over the next decade.

Motorcyclist sees excavator arriving at the edge of a river in Bosnia, calls neighbors in minutes and turns a hydroelectric project into a resistance lasting more than 10 years with five expired concessions.

Researchers were analyzing a shipwreck in the depths of the Pacific when the US Navy confirmed that it was the submarine lost since 1944 with 83 crew members from World War II.

Discovery of floating structure in Scarborough prompts Philippines to act and increases international attention on the South China Sea

ANP schedules oil auctions in October and reinforces regulatory predictability for concessions, sharing, and investments in the oil and gas sector

The ‘tsunami’ of investments directed at Artificial Intelligence (AI) and semiconductor companies, which prioritize security and more predictable profits, has been a determining factor in the declining trajectory of Bitcoin.

Petrobras Terminates Contract with Forbes & Manhattan After Failure to Meet Financial Obligations at SIX

Canadian Company Owes R$140 Million to Petrobrás, Resulting in the Suspension of the Temporary Administrative Support and Technical Support Contract for the Refinery Operation.

Privatization of SIX in 2022 Allowed Forbes&Manhattan’s Intervention, But Generates Controversies and Lawsuits

Previous Problems Involving Forbes&Manhattan and Their Consequences

Dissatisfied with seeing people sleeping on the street, a man named Ryan Donais started building small mobile homes so that homeless people can escape the cold, each equipped with a bed, running water, electricity, and heating.

Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

A giant brown band visible from space, approximately 8,850 kilometers long, connected Africa to America in the Atlantic Ocean, and satellites revealed that it is neither land nor pollution, but the largest accumulation of seaweed in the world, which broke records in 2025.

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

Two 17-year-old Kenyans use coconut shells, corn cobs, and recycled materials to create an exhaust filter that reduces 93.3% of pollutant particles and wins an environmental award in Africa.

Consumers eat six times more chicken than in the 1960s, global meat supply quadruples in 60 years, and FAO report reveals the invisible cost on the plate: livestock could drive 80% of the increase in agricultural emissions over the next decade.

Motorcyclist sees excavator arriving at the edge of a river in Bosnia, calls neighbors in minutes and turns a hydroelectric project into a resistance lasting more than 10 years with five expired concessions.

ANP schedules oil auctions in October and reinforces regulatory predictability for concessions, sharing, and investments in the oil and gas sector

There is oil below the oil that Brazil already extracts: Petrobras confirmed a new accumulation in the Búzios field, at a depth of 5,600 meters, in a zone below the reservoir already operating in the Santos Basin.

404 km off the coast of Rio de Janeiro, an oil company drilled 5,855 meters into the ocean and discovered the largest oil and gas reserve found in a quarter of a century.

Coca-Cola prepares a mega-operation in Brazil with 11 factories and 53 distribution centers to turn the 2026 World Cup into a billion-dollar consumption race.

Electrolux emerged from a Swedish merger in 1919 and conquered homes worldwide with innovative refrigerators, stoves, and washing machines.

Researchers were analyzing a shipwreck in the depths of the Pacific when the US Navy confirmed that it was the submarine lost since 1944 with 83 crew members from World War II.

Discovery of floating structure in Scarborough prompts Philippines to act and increases international attention on the South China Sea

ANP schedules oil auctions in October and reinforces regulatory predictability for concessions, sharing, and investments in the oil and gas sector

The ‘tsunami’ of investments directed at Artificial Intelligence (AI) and semiconductor companies, which prioritize security and more predictable profits, has been a determining factor in the declining trajectory of Bitcoin.