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Petrobras

Brazil's Petrobras lowers fuel prices even as oil rises internationally
Business & Finance

Brazil's Petrobras lowers fuel prices even as oil rises internationally

  • The move would be the first under the management of General Joaquim Silva e Luna, who replaced Roberto Castello Branco as the company's top executive after the government apparently disagreed with the state-run company's fuel pricing policy.
  • In a note on Friday, brokerage Ativa Investimentos said its model indicated a potential 13% rise in gasoline prices, driven by the increasing international oil prices.
Published 30 Apr, 2021 08:32pm
At Brazil's Petrobras, a 'Spartan' military man takes the reins
Business & Finance

At Brazil's Petrobras, a 'Spartan' military man takes the reins

  • President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook post in February.
  • Petrobras shares fell sharply when Luna's predecessor, Roberto Castello Branco, was forced out after the group hiked domestic fuel prices several times in February, angering Bolsonaro.
Published 12 Apr, 2021 05:57pm
Petrobras requests ministry clarify Bolsonaro pricing comments; shares slide
Business & Finance

Petrobras requests ministry clarify Bolsonaro pricing comments; shares slide

  • In a securities filing, Petrobras said it asked the ministry about information that "should have been released to the market." The ministry has yet to respond, Petrobras said.
  • Bolsonaro's remarks on Wednesday helped wipe out gains in Petrobras' preferred and ordinary shares and they closed that session virtually flat. The preferred shares closed 0.08% down. The selling continued on Thursday.
Published 08 Apr, 2021 08:48pm
Brazil's real extends slide on political worries; Mexican peso up over 1pc
Markets

Brazil's real extends slide on political worries; Mexican peso up over 1pc

  • The fear is that, with Lula's specter hanging over his re-election, Bolsonaro could act even more erratically and take populist actions that compromise Brazil's fragile fiscal situation.
  • With US Treasury yields stabilizing and Wall Street's stock indexes opening higher, Sao Paulo's Bovespa stock index rose 0.2%, after sinking 4% on Monday.
Updated 09 Mar, 2021 09:33pm