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Tag: Petrobras

By Richard Mann, Contributing ReporterRIO DE JANEIRO, BRAZIL - Justice Edson Fachin, of the Federal Supreme Court (STF), suspended the sale of Transportadora Associada de Gás (TAG), a subsidiary of Petrobras, Brazil's national oil and gas giant.TAG is involved...
By Richard Mann, Contributing ReporterRIO DE JANEIRO, BRAZIL - Last week, during coffee with journalists, Brazilian President Jair Bolsonaro reaffirmed that he relied on the proceeds from fines paid by Petrobras to offset the announced controversial cut in education.In...
By Contributing ReporterRIO DE JANEIRO, BRAZIL - Oil production in Brazil grew 2.8 percent from February to March, according to the monthly bulletin of the National Agency of Petroleum, Natural Gas and Biofuels (ANP).In total, 2.56 million barrels of...
By Newsfeed/BloombergRIO DE JANEIRO, BRAZIL - One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petrobras.Joao Braga and Marcos Peixoto, who manage US$1.3 (R$5) billion at XP Asset Management, have increased their...
By Lise Alves, Senior Contributing ReporterSÃO PAULO, BRAZIL – Petrobras CEO Roberto Castello Branco announced an increase of R$0.10 per liter of diesel at refineries. The 4.84 percent increase is lower than the 5.7 percent the company announced and...
By Lise Alves, Senior Contributing ReporterSÃO PAULO, BRAZIL – Petrobras announced that it is not renewing sponsorship contracts for thirteen large cultural projects around the country.According to Petrobras, the budget for sponsoring the arts is smaller due to the...
By Lise Alves, Senior Contributing ReporterSÃO PAULO, BRAZIL – Oil giant, Petrobras, saw its shares plummet on Friday after the company announced it was cancelling a 5.7 percent diesel fuel price increase. Preferred shares fell by 7.75 percent, making...
By Lise Alves, Senior Contributing ReporterSÃO PAULO, BRAZIL – Hours after posting the increase in diesel fuel prices on its website, Petrobras, Brazil's oil giant, reversed its decision, stating that it was "delaying the increase for a few days."...
By Richard Mann, Contributing ReporterRIO DE JANEIRO, BRAZIL - The Brazilian government reached a landmark deal to pay state-controlled oil company Petróleo Brasileiro SA US$ 9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said on...

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