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There is a possibility of replacing Petrobras' chief executive, Brazil's President Jair Bolsonaro said on Wednesday, adding further pressure to the state-run oil company's pricing policy. In an interview with regional TV channel, Bolsonaro said the possibility of replacing Joaquim Silva e Luna as Petrobras CEO exists, although he added "everyone in the government can... Continue Reading →
(Reuters) - Petrobras Chief Executive Joaquim Silva e Luna said on Monday he will not leave the Brazilian state-run oil company despite facing criticism from President Jair Bolsonaro and others over a fuel price hike announced last week. Luna, a retired army general, compared Petroleo Brasileiro SA's effort to raise prices to a "battle." Luna... Continue Reading →
(Reuters) - A Brazilian Senate committee requested on Tuesday that Petrobras executives explain to it the state-run oil company's dividend policy, while top ministers met to determine the future of the company's fuel pricing policy. Petroleo Brasileiro SA, as the company is formally known, has been facing intense pressure to abandon its current method of... Continue Reading →
In 4Q21, Petrobras posted solid operational and financial results. According to Petrobras’ CEO, Joaquim Silva e Luna, “Petrobras generated consistent results in 4Q21, demonstrating that a healthy company committed to society is capable of growing, investing, generating jobs, paying taxes and returning money to its shareholders, effectively contributing to the country’s development. None of this... Continue Reading →
(Reuters) - Executives at Brazil's Petrobras (PETR4.SA) on Friday effectively brushed aside suggestions that the company was too profitable and should lower its fuel prices, telling analysts that it had no plans subsidize consumers at the pump. Claudio Mastella, the company's logistics chief, said on a call to discuss Petrobras' third-quarter financial results that the firm continues... Continue Reading →
In 3Q21, Petrobras posted excellent operating and financial results. According to CEO Joaquim Silva e Luna, “It is with great honor that I share with you the results achieved. We reached our debt target much earlier than planned and we are sharing part of the wealth generated with society and our shareholders through taxes, dividends,... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has repeated he is considering privatizing state-run oil company Petroleo Brasileiro (PETR4.SA), saying the company's insistence on passing on higher energy prices to consumers was giving him a "headache." Echoing comments he made earlier this month, as well as remarks as early as 2019 that he viewed the idea of... Continue Reading →
(Reuters) - Petrobras (PETR4.SA) Chief Executive Officer Joaquim Silva e Luna said there was "zero" risk that the state-run Brazilian oil company would seek to artificially control fuel prices even amid growing public outrage over inflation. Petroleo Brasileiro, as the company is formally known, will have to raise gasoline and diesel prices in line with its international... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Extraordinary General Meeting, held today, exclusively under the digital format, analyzed and approved, by majority vote, the following: I. Election of eight (8) members of the Board of Directors of Petrobras, by cumulative vote process, as follows: Mrs. Cynthia Santana Silveira Mr. Eduardo Bacellar Leal Ferreira Mr.... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider... Continue Reading →
Brazil Energy Insight 