Brazilian president seems poised to win his controversial struggle over the removal of the country's giant oil and gas company Petrobras CEO, and replacement by a former Army general. In effect, Petrobras on Tuesday called an extraordinary shareholders' meeting, a move that all but guarantees the exit of CEO Roberto Castello Branco.
More changes are in the pipeline, announced Brazilian president Jair Bolsonaro, after replacing the CEO of the country's oil and gas giant Petrobras with a former general. The move had an immediate impact in markets given the confidence investors had in the removed University of Chicago educated economist, Roberto Castello Branco.
Brazilian President Jair Bolsonaro on Friday sacked a market-friendly economist as CEO of Petrobras and named a retired general to replace him, following on disputes over diesel prices that threatened a major teamsters stoppage.
Oil spills washing up on beaches along more than 2,000 kilometers of Brazil’s northeast coastline could be the worst environmental “attack” in the country’s history, the CEO of Petrobras said on Tuesday.
The Brazilian oil company Petrobras has announced that in the coming months it will reduce its imports of Bolivian natural gas, which it still considers to be essential nonetheless.
Uruguay's President Tabaré Vázquez and Petrobras CEO Roberto Castello Branco met Tuesday in Santa Fe, Argentina, to discuss a possible solution to the crisis affecting Montevideo's two gas suppliers, which are both subsidiaries of the Brazilian consortium.
Brazilian state-run oil firm Petrobras hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference.
Brazilian Economy Minister Paulo Guedes said he’ll clear up any confusion from President Jair Bolsonaro’s decision to halt a planned fuel-price hike by Petrobras.
Brazil’s solicitor general has overturned one injunction that prevented state-controlled oil company Petrobras from proceeding with one of its largest divestitures, the government said in a statement.
The new chief executive of Brazil’s Petrobras is pushing for the ouster of two of the state-controlled oil company’s board members. Roberto Castello Branco is seeking the resignation of two Petrobras board members, Segen Estefen and Durval Soledade, whose mandates were only supposed to end in 2020.