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Petrobras

Petrobras CEO resigns

Petrobras CEO resigns

Published 21 Jun, 2022 05:51am
SAO PAULO: The chief executive of Brazil’s state-run oil company Petrobras resigned on Monday in the face of...
Brazil's Petrobras lowers fuel prices even as oil rises internationally

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

Published 30 Apr, 2021 08:32pm
  • 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.
At Brazil's Petrobras, a 'Spartan' military man takes the reins

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

Published 12 Apr, 2021 05:57pm
  • 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.
Petrobras minority shareholders ask for cumulative voting in assembly

Petrobras minority shareholders ask for cumulative voting in assembly

Published 09 Apr, 2021 06:05pm
  • Petrobras also said in a securities filing that minority shareholders proposed a new candidate for the board, banker Jose Joao Abdalla Filho, owner of Banco Classico and energy and agribusiness companies. His name was proposed by investment funds holding Petrobras shares.
Petrobras requests ministry clarify Bolsonaro pricing comments; shares slide

Petrobras requests ministry clarify Bolsonaro pricing comments; shares slide

Published 08 Apr, 2021 08:48pm
  • 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.
Brazil's real extends slide on political worries; Mexican peso up over 1pc

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

Updated 09 Mar, 2021 09:33pm
  • 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.
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