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(Reuters) - Brazil President Jair Bolsonaro was not consulted or informed about state oil giant Petrobras' (PETR4.SA) decision this week to raise fuel prices, which underscores the company's independence, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday. The ex-army general chosen in April by Bolsonaro to lead the company said there has not been and... Continue Reading →
(Reuters) Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA) said on Friday that it will start a staggered return from home office to on-site work for its white-collar workers between July and August. Petrobras, as the company is known as, told Reuters the process will continue in October with up to 20% of office occupancy and will... Continue Reading →
Petrobras posted solid financial and operating results in 1Q21. Regarding 1Q21 results, Petrobras’ CEO Joaquim Silva e Luna made the following comments: “The figures show the capacity of our team to deliver sustainable results to our investors and to society, even in a challenging environment. Petrobras will continue down the path of value generation, with... Continue Reading →
(Reuters) Joaquim Silva e Luna, the new chief executive of Brazil's Petrobras (PETR4.SA), will look to respect the company's current pricing policy and keep investing in deepwater assets, he said at his swearing-in ceremony on Monday. The comments by the former army general signaled that Petrobras' incoming administration will attempt to maintain some form of continuity... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the company's Board of Directors, in a meeting held today, elected Joaquim Silva e Luna to the position of CEO of the company.The Board of Directors, as part of the process of composing the Petrobras´ Board of Executive Officers, also approved the following appointments: 1- Election of... Continue Reading →
(Reuters) Incoming Petrobras CEO Joaquim Silva e Luna, an army veteran with no oil experience, has endorsed four career executives to head up key company divisions rather than bringing in more outsiders, people with knowledge of the matter said on Thursday. The board of directors of Petroleo Brasileiro SA , as Brazil's state-controlled company is... Continue Reading →
(Reuters) -Shareholders in Brazil’s Petrobras voted on Monday to remove Roberto Castello Branco as CEO, and elected his government-picked successor to the board of directors, but discontent among some investors threatens to drag out the transition process. The dismissal of Castello Branco, while widely expected, is an important step in the government’s plan to place... Continue Reading →
(Reuters) - For many investors, the appointment of former army general Joaquim Silva e Luna as the new chief executive of Brazil’s state-run oil company Petrobras was unexpected - and unwelcome. 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... Continue Reading →
XP analysts (NASDAQ: XP) reduced the maximum price estimate for the sale of six Petrobras refineries (SA: PETR4) by U$ 5.7 billion, when reviewing their calculations after the Landulpho Alves Refinery (Rlam), was sold for less than market expectations. In the new calculation, which considers some risks related to fuel prices for future refinery owners,... Continue Reading →
(Reuters) - Brazil’s Petrobras has fired a high-ranking manager after determining he had traded company shares in the days leading up to the firm releasing its financial results, the company said on Monday. Earlier on Monday, four sources familiar with the matter told Reuters that Claudio Costa, Petrobras’ executive manager for human resources, sold shares... Continue Reading →
Brazil Energy Insight 