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The Latest Breaking News from Petrobras

Former Petrobras executive asks Brazil court to block dividend payment

Guilherme Estrella, former director of Brazil's state-controlled oil giant Petrobras, filed a lawsuit in court to block the payment of dividends by the company. In a late Friday filing, Petrobras reported that Estrella, a former director of exploration and production, requested the blocking of 32.1 billion reais ($6.6 billion) in…

Reuters

With Lula's Win in Brazil, the Left Dominates Latin America

The question now is whether Bolsonaro’s coalition can remain in place once the man himself is out of power.

Reason

How India is snapping up cheap crude oil as West tightens Russia sanctions

NEW DELHI: Oil refiners in India are buying crude oil at cheaper rates by entering term deals with other countries amid concerns that tighter sanctions from the West on Russia could curb future supplies.

The Times of India

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Bolsonaro vs Lula: Who has Brazil's business vote?

Brazil’s main Sao Paulo stock market surged the morning after the first round of the 2022 presidential election, when incumbent Jair Bolsonaro fared better than expected against his leftist rival, Lula. Is this a sign that the financial markets prefer Bolsonaro? And could the tight gap between the two candidates…

France 24

Bolsonaro and Lula face off in Brazil presidential debate

Brazil's main presidential candidates took their gloves off on Sunday and laid into each other in the first presidential debate for the October general election with accusations of corruption and threats to democracy.

Reuters

Brazil's Bolsonaro says Petrobras privatization possible next year

President Jair Bolsonaro said on Friday he has authorized Minister of Mines and Energy Adolfo Sachsida to consider the privatization of oil company Petrobras next year, if the president is re-elected in October.

Reuters

Brazil's Bolsonaro pledges privatizations if re-elected; mum on Petrobras

Brazil's President Jair Bolsonaro did not mention privatizing state-controlled oil company Petrobras in his re-election plan released on Wednesday that promises to continue pursuing policies that reduce the size of the state.

Reuters

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Lower fuel prices push by Brazilian president Jair Bolsonaro hurts Aussie farmers

Brazilian politics might be half a world away but that hasn't stopped a president's populist push from putting pressure on Aussie farmers.

ABC News

Petrobras (PBR) Output Down, Refinery Utilization Up At 97%

The Brazilian state-owned oil major Petrobras' (NYSE: PBR) oil production dropped in the second quarter due to divestments along with an increase in work stoppages. The company's refinery utilization rate, however, was at a high of 97%.

Benzinga

Ecuador's Oriente crude exports suspended, Napo flowing amid force majeure

Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday.

Reuters

Colombia rebels open to talks with new president

The latest in Latin American politics today:

Reuters

Brazil's Petrobras CEO resigns amid pressure over gas prices

The chief executive of Brazil’s state-run oil giant Petrobras resigned amid political pressure from top lawmakers and President Jair Bolsonaro

The Independent UK

Brazil’s Bolsonaro says Congress will investigate Petrobras

Brazilian President Jair Bolsonaro said on Saturday he already has support from congress to start a probe into state-controlled oil giant Petrobras and its pricing policy.

Tribune News Service

Analysis-Brazil likely to waive over $20 billion in tax revenue as Bolsonaro tries to spur economy

Tax cuts are likely to cost over 110 billion reais ($21.5 billion) in Brazilian tax revenue this year, as President Jair Bolsonaro tries to ease inflation and spur the economy in an election year despite economists' warnings of blowback in 2023.

Reuters

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Reuters

Brazil's Bolsonaro says could split up Petrobras as prelude to privatization

Brazilian President Jair Bolsonaro on Tuesday floated the idea of splitting state-owned Petrobras into various pieces as a prelude to privatizing it.

The Guardian - UK

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

Reuters

Brazil's Bolsonaro urges Petrobras not to hike fuel prices, calls its profits margins a 'rape'

Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise local fuel prices again, and compared the company's profit margins to a "rape" of the country.

Reuters

U.N. committee finds Brazil graft probe violated Lula's rights

The U.N. human rights committee said on Thursday that Brazil graft investigators violated due process in bringing a case against former President Luiz Inacio Lula da Silva that led to his imprisonment and barred him from running for office in 2018.

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The Independent UK

Utah siblings sue Brazilian oil giant Petrobras for ‘orchestrating’ 2003 murder of their parents

Oil executive was murdered with his wife while investigating corruption in Brazil

France 24

Brazil's Bolsonaro admitted to hospital after feeling 'unwell'

Brazilian President Jair Bolsonaro was admitted to a military hospital in Brasilia Monday to undergo tests after feeling unwell, local press reported. Also on Monday, the president decided to replace the president of state-owned oil giant Petrobras, Joaquim Silva e Luna, amid strong pressure due to recurrent increases in fuel…

Reuters

Brazil Congress passes bill changing state fuel taxes; governors will try to block it

Brazil's lower house in the early hours of Friday passed a bill changing the calculation of the ICMS state tax levied on fuel, as it aims to curb price hikes after global oil quotes soared following Russia's invasion of Ukraine.

Reuters

Brazil's Lula says he would tax rich more, change Petrobras fuel price policy

Former Leftist President Luiz Inacio Lula da Silva, who is leading early polls ahead of October elections, said on Wednesday he would propose less taxation on the poor and more on the rich if he wins, and reduce fuel prices.

StockNews.com

Should You Buy the Breakout in Petrobras?

Brazil-based oil and gas conglomerate Petrobras (PBR) has been ramping up its production volumes and strategic investments to capitalize on the uptick in Brent prices and the prices of oil products in the domestic market. Consequently, the stock recently hit a new 52-week price high. So, does the stock have…

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