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Montevideo, February 17th 2019 - 05:58 UTC

Tag: Pedro Parente

  • Friday, June 15th 2018 - 10:57 UTC

    Petrobras ex-CEO becomes head of Brazilian giant food processor BRF

    Parente was elected BRF chairman in April when shareholders were seeking a management overhaul in the wake of a food safety probe and poor results.

    The board of Brazilian food processor BRF SA on Thursday elected Chairman Pedro Parente to the additional post of chief executive, the company said in a securities filing. Parente, the former CEO of state-controlled oil company Petrobras will hold both positions for an initial period of 180 days, BRF said.

  • Wednesday, May 30th 2018 - 09:35 UTC

    Petrobras workers Wednesday strike was declared illegal

    The strike due to start on Wednesday was called by unions that are demanding the resignation of Petrobras CEO Pedro Parente

    Brazil’s Superior Labor Court (TST) ruled on Tuesday that a 72-hour strike planned by workers of state-run oil company Petrobras was illegal, the office of the government’s solicitor general said.

  • Tuesday, January 30th 2018 - 10:00 UTC

    Petrobras to join the Oil and Gas Climate Initiative

    The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change

    The Oil and Gas Climate Initiative (OGCI) and Petrobras announced that the Brazilian company will join the initiative. This commitment is subject to the approval of the OGCI Climate Investments Members’ Agreement by the Petrobras board of directors.

  • Friday, January 13th 2017 - 11:19 UTC

    Petrobras pre-salt oil production set a new record in 2016

    Total production of the company in the country reached 2.63 million barrels of oil equivalent per day, 1% above 2015’s results, which also set a new record

    Petrobras’ average oil production in Brazil in 2016 went up 0.75% in comparison to the previous year and reached 2,144,256 barrels per day. According to the company, the result was in line with the established target of 2.145 million and represents an annual all-time high.

  • Monday, November 14th 2016 - 07:54 UTC

    Petrobras cleans balance sheet and posts unexpected third quarter loss

    Despite losses, operational and cash flow trends improved, said Chief Financial Officer Ivan Monteiro said.

    Brazilian state-controlled oil company Petrobras posted an unexpected third-quarter loss after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais (US$4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and cash flow trends improved and, without an impairment, profit could have totaled 600 million Reais, Chief Financial Officer Ivan Monteiro said.

  • Tuesday, October 25th 2016 - 12:20 UTC

    Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

    The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said at the Rio Oil and Gas conference.

    President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said in an address at the opening of the Rio Oil and Gas conference.

  • Thursday, October 13th 2016 - 10:13 UTC

    Petrobras no longer an arm of government to control inflation, pledges CEO

    Petrobras, which hasn’t adjusted gasoline and diesel prices for more than a year, will set prices at or above parity with international levels, Parente said

    Petrobras is reading to announce a domestic fuel policy that will avert costly subsidies that drained profits during Brazil’s previous government, Chief Executive Officer Pedro Parente said in an interview. For years fuel prices were manipulated as part of the government's policy to keep inflation under control.

  • Friday, September 23rd 2016 - 11:16 UTC

    Petrobras cuts 5-year budget by 25% and will focus on core oil and gas business

    Petrobras will focus on the most profitable project in deep waters, CEO Parente said. “Petrobras wants to spend less to produce the same”.

    Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006.

  • Friday, May 20th 2016 - 11:05 UTC

    Petrobras new CEO is a former energy minister and chief of staff

    Parente served in a number of positions under President Cardoso. He was chief of staff from 1999 to 2003 and also minister of planning and of mines and energy.

    Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO was working as chairman of Sao Paulo-based financial bourse BM&FBovespa.

  • Friday, April 29th 2011 - 05:40 UTC

    Brazilian exporters demanding a “weaker” Real to regain competitive edge

    Bunge Brasil CEO Pedro Parente: strength of the Real is “very worrying”

    The strength of the Brazilian Real against the US dollar is “very worrying” for the country's exporters, with many companies struggling with higher production costs and a reduced ability to compete in global markets, Bunge Brasil CEO Pedro Parente said Thursday.