(Bloomberg) — Brazilian President Luiz Inacio Lula da Silva said he wants Petrobras to be profitable in an apparent effort to ease investor concerns about the direction of the state-controlled oil producer. Most Read from Bloomberg “Nobody wants any shareholder to lose money,” Lula said Wednesday at a ceremony to swear in Chief Executive Officer […]
RIO DE JANEIRO (AP) — The head of Brazil’s state-run oil giant Petrobras, Magda Chambriard, was sworn in Wednesday amid market concerns of increased government intervention in the company. President Luiz Inácio Lula da Silva — who nominated Chambriard — attended the ceremony at a Petrobras research center in Rio de Janeiro, along with Finance […]
RIO DE JANEIRO (AP) — The head of Brazil’s state-run oil giant Petrobras, Magda Chambriard, was sworn in Wednesday amid market concerns of increased government intervention in the company. President Luiz Inácio Lula da Silva — who nominated Chambriard — attended the ceremony at a Petrobras research center in Rio de Janeiro, along with Finance […]
(Bloomberg) — The new CEO of Brazil’s Petrobras has tried to soothe investor concerns about ramping up investments during her first public comments at the helm of Latin America’s biggest oil producer. Most Read from Bloomberg Magda Chambriard was formally appointed to the role last week at a time of growing concern from investors about […]
The new chief executive of Brazilian oil giant Petrobras, Magda Chambriard (Andre RIBEIRO) Brazil’s state-run oil company, Petrobras, confirmed former regulator Magda Chambriard as its new chief executive Friday, 10 days after left-wing President Luiz Inacio Lula da Silva sacked her predecessor. Lula has been pushing for Petrobras to invest more, saying it will boost […]
SAO PAULO (Reuters) -Brazilian state-run oil firm Petrobras said on Wednesday the country’s antitrust regulator Cade approved the new terms of an agreement that will free up the company from selling some of its oil refining and natural gas assets. The new terms of the agreement, originally signed in 2019, have been approved by the […]
(Bloomberg) — Brazil President Luiz Inacio Lula da Silva will push the new head of Petroleo Brasileiro SA to speed the pace of investments into refineries and expand its natural gas supplies after ousting the state-run oil company’s chief executive officer, people familiar with his plans said. Most Read from Bloomberg Lula’s firing of Jean […]
By Marta Nogueira, Sabrina Valle and Rodrigo Viga Gaier RIO DE JANEIRO (Reuters) – The next chief executive of Petrobras, Magda Chambriard, arrives with the résumé and mandate to make Brazil’s state-run oil firm what it was under prior Workers Party governments: an engine of job creation and industrial development, said people familiar with the […]
RIO DE JANEIRO (AP) — The head of Brazil’s state-controlled oil and gas giant Petrobras has stepped down, the company said in a prepared statement Wednesday, following months of tensions with the federal government. Petrobras opted not to pay extraordinary dividends to its shareholders earlier this year, souring relations between Petrobras CEO Jean Paul Prates […]
Pity Petrobras (NYSE: PBR) (NYSE: PBR.A) investors — they can’t seem to catch a break. Shares of the Brazilian oil giant — officially known as Petroleo Brasileiro — have fallen steadily in the four days leading up to and after the company’s poor first-quarter 2024 earnings report. This now includes a 7.2% decline through 10:45 […]
RIO DE JANEIRO (Reuters) – Shares of Brazil’s Petrobras plunged 8% on Wednesday after the state-run oil firm said its chief executive would step down, to be replaced by a former regulator with views closer those of President Luiz Inacio Lula da Silva. Industry analysts expressed concern, as CEO Jean Paul Prates was seen as […]
(Bloomberg) — Brazil’s President Luiz Inacio Lula da Silva fired Jean Paul Prates, the chief executive of the country’s state-owned oil company, Petroleo Brasileiro SA, following a dispute over dividend payments. Most Read from Bloomberg The firing was confirmed by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, […]