Brazilian oil company Petrobras Friday announced its intention to leave Argentina and has therefore launched the sale of its stake in Posa, its local subsidiary, which holds a 33.6 % of the Río Neuquén Field.
Brazil's state-run oil company Petrobras Wednesday announced a 0.84% reduction in the sales prices for distributors of jet fuel starting Saturday. It is the third consecutive drop following a 10.4% one earlier this month after August's 2.6%.
Brazil's state-run oil company Petrobras Thursday announced it would reduce the sale price of fuel to distributors from R$ 3.53 (US$ 0.67) to R$3.28 (US$ 0.63) per liter effective Friday.
A survey from Brazil's National Oil, Gas and Bio-fuels Agency, ANP, showed that the average price for a liter of gasoline in service stations across Brazil had dropped 2,77%, and this way the price is now R$ 5,25 this week, the lowest it has been since February 2021.
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.
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.
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.
Brazil's Government has replaced yet again the chairman of the state-run oil company Petrobras in which private investors also have a share.
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.
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.