Tag: Petrobras

Thursday, June 21st 2018 - 08:57 UTC
Brazil eases rules in oil industry to boost production

Brazil’s move to ease rules forcing oil producers to buy from domestic suppliers means Latin America’s top producer will be able to sustain output of 5 million barrels per day (pbd) by the mid-2020s, compared to just 3.7 million bpd under prior rules, consultancy Wood Mackenzie said in a report on Wednesday.
Friday, June 15th 2018 - 10:57 UTC
Petrobras ex-CEO becomes head of Brazilian giant food processor BRF

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, June 6th 2018 - 08:38 UTC
Brazil industrial production returned to positive growth during April

Brazilian industrial production increased 0.8% in April, marking a return to positive growth after dropping by 0.1% in March, the government announced on Tuesday. According to the report by Brazil's statistics bureau, IBGE, the industrial sector has grown 4.5% so far in 2018.
Thursday, May 31st 2018 - 08:27 UTC
Debilitated Brazilian government challenged with an oil-workers 72-hour strike

Brazilian oil workers began a 72-hour strike on Wednesday in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America's largest economy for over a week. The strike affecting several rigs, refineries, plants and ports is the latest challenge for state-led oil firm Petrobras, whose shares have tumbled nearly 30% in two weeks over fears that political interference would unwind more investor-focused policies.
Thursday, May 31st 2018 - 07:40 UTC
Deal to compensate one of the world's most indebted oil company

Petrobras and Brazil’s government are “very close” to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks.
Wednesday, May 30th 2018 - 09:35 UTC
Petrobras workers Wednesday strike was declared illegal

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.
Thursday, May 24th 2018 - 07:20 UTC
Brazil lowers diesel prices 10%, but truckers' strike continues threatening grain exports

Petrobras on Wednesday temporarily cut diesel prices by 10% in order to help the Brazilian government and truck drivers resolve a protest crippling highways.
Friday, May 11th 2018 - 09:05 UTC
Despite legal setbacks, Lula reiterates his intention to run for a third presidential term

Brazil's former President Luiz Inacio Lula da Silva reiterated on Thursday his intention to run for a third presidential term. Lula was jailed on April 7 and is serving a sentence of 12 years and one month for corruption and money laundering.
Wednesday, May 2nd 2018 - 08:31 UTC
Petrobras increases offshore production: plans an extra million bpd output next year

Brazil’s state-controlled Petrobras expects oil production to start by the end of June at its Tartaruga Verde e Mestica offshore platform, the second of seven facilities planned to be installed this year, a company executive said on Monday.
Wednesday, February 28th 2018 - 10:00 UTC
Brazilian presidential hopeful would support privatization of Petrobras

The governor of Sao Paulo and likely centrist presidential candidate Geraldo Alckmin said that he would privatize Brazil's state-run oil company Petrobras if he wins the elections in October.