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Montevideo, July 2nd 2022 - 14:38 UTC

Tag: Petrobras

  • Thursday, June 30th 2022 - 09:29 UTC

    Brazil negotiating the purchase of diesel fuel from Russia

    Petrobras currently has access to Russia/India oil/fuel but it is not easy, since banks are not interested in opening a letter of credit for Russian imports

    Anticipating possible fuel shortages, particularly diesel, the Brazilian government is considering importing the fuel from Russia. Currently, only Petrobras imports diesel from India, the country which is refining Russian oil. Brazil's foreign ministry is already helping private companies with the necessary accreditation for such operations through Abicom, the fuel importers association.

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  • Tuesday, June 28th 2022 - 09:19 UTC

    New Petrobras CEO greenlighted pending objections

    Paes' education and expertise are not exactly related to the energy sector, his opponents argue

    Caio Mário Paes de Andrade has been approved Monday as the new CEO of Brazil's state-run oil company to replace José Mauro Coelho, who lasted merely 68 days on the job.

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  • Tuesday, June 21st 2022 - 09:21 UTC

    Petrobras CEO Coelho bows to pressure and resigns

    Exploration and Production Chief Fernando Borges has been appointed interim president

    After barely 40 days on the job, José Mauro Coelho resigned as CEO of Brazil's state-run oil company Petrobras due to pressure from President Jair Bolsonaro and other politicians over a recent increase in the price of fuel, which drives inflation upwards ahead of the Oct. 2 elections. Bolsonaro had dubbed the price hike a “betrayal” of the Brazilian people.

  • Tuesday, May 24th 2022 - 09:15 UTC

    Brazil sacks Petrobras CEO yet again

    Paes would become the fourth Petrobras chairman under President Bolsonaro

    Brazil's Government has replaced yet again the chairman of the state-run oil company Petrobras in which private investors also have a share.

  • Wednesday, May 11th 2022 - 20:34 UTC

    Bolsonaro sacks energy minister

    Petrobras' huge profits prompted the president's decision after a new price increase

    Brazilian President Jair Bolsonaro chose to replace Energy Minister Bento Albuquerque just one day after an 8.87% increase in the price of diesel fuel at Petrobras' refineries.

  • Saturday, April 9th 2022 - 08:08 UTC

    Petrobras lowers price of cooking gas

    The measure was feasible thanks to an appreciation of the real against the US dollar

    Brazil's state-run Petrobras Friday announced a reduction in the price of Liquefied Petroleum Gas (LPG) sold to distributors and which is used for cooking and heating in households.

  • Tuesday, April 5th 2022 - 09:36 UTC

    Bolsonaro still unable to find new Petrobras chief

    Pires' was Bolsonaro's second straight setback regarding Petrobras

    Brazilian Economist Adriano Pires has turned down President Jair Bolsonaro's offer to chair the state-run oil company Petrobras after dismissing General Joaquim Silva e Luna, who repeatedly adjusted the price of fuel against the head of state's recommendations.

  • Tuesday, March 29th 2022 - 09:39 UTC

    Bolsonaro sacks Petrobras chief, pending approval

    Pending a decision by the shareholders, Silva e Luna will remain in charge of Petrobras, unless he requests a leave

    The Brazilian Government Monday decided to sack Retired General Joaquim Silva e Luna as Petrobras CEO and appoint Economist Adriano Pires instead, after the price of fuel kept soaring, thus affecting President Jair Bolsonaro's chances of reelection.

  • Thursday, March 17th 2022 - 20:53 UTC

    Increase in fuel price, a crime against Brazilians, says Bolsonaro

    “Whatever I can do, I do,” to avoid increases in the price of fuel, Bolsonaro said

    Brazil's oil company Petrobras came under heavy criticism Wednesday from President Jair Bolsonaro, who claimed the decision to raise the price of fuel at pumps was both “absurd” and “a crime against the population.”

  • Friday, March 11th 2022 - 08:41 UTC

    Petrobras increases price of fuel for distributors after 57 days

    Petrobras will monitor the international situation and not pass on every global increase to the local market

    Brazil's Petrobras has increased the price of refined gasoline and diesel for distributors as of March 11. The average price has gone up to R$3.86 (US$ 0.77) for regular fuel and R$4.51 (US$ 0.9) for diesel.