(Bloomberg) — Brazil’s state-controlled oil giant Petrobras is curbing politically charged dividends after reporting lower profits. Most Read from Bloomberg Petrobras’s board approved 1.04 reais a share, or 13.45 billion reais ($2.6 billion), in dividends for the first quarter, it said in a regulatory filing Monday. Analysts were expecting $3.2 billion, according to the average […]
(Recasts paragraph 1, adds context and shareholder payout in paragraphs 2-5) By Fabio Teixeira and Marta Nogueira RIO DE JANEIRO, May 13 (Reuters) – Brazilian state-run oil firm Petrobras posted a 38% fall in its first-quarter net recurring profit from a year earlier on Monday, missing analysts’ expectations on the result and its dividend, hit […]
Sapura Energy has secured contracts valued at $1.8bn (9.13bn reais) from Brazil’s state-owned company Petrobras for the provision of subsea services and six pipe-laying support vessels (PLSVs). The Malaysia-based offshore services company said that the contracts were obtained through its joint venture (JV) companies, owned by Seabras Sapura Holding and Seabras Sapura Participações, in collaboration […]
(Bloomberg) — A seven-week tug of war over Petrobras’s dividends wound up with the company delivering a 22-billion-reais ($4.3 billion) payout to investors. Most Read from Bloomberg Brazil’s federal government, which controls the company, proposed to pay half of available extraordinary dividends at a Thursday shareholders meeting, backtracking from a previous decision to withhold the […]
(Bloomberg) — Brazil’s state-controlled oil producer Petrobras is getting behind President Luiz Inacio Lula da Silva’s plans to revive shipyards as part of a wider effort to expand industrial activity in Latin America’s largest economy. Most Read from Bloomberg Petrobras Chief Executive Officer Jean Paul Prates on Thursday said Brazil should have a strong naval […]
(Bloomberg) — Petrobras head Jean Paul Prates is set to remain in charge of Brazil’s state-controlled oil giant for now, as an internal government battle over the company’s chief executive role cools down, according to people with knowledge of the matter. Most Read from Bloomberg A dispute over the job erupted inside President Luiz Inacio […]
BRASILIA (Reuters) -President Luiz Inacio Lula da Silva canceled a meeting on Sunday evening with members of his cabinet that could have decided on whether to replace the chief executive of Brazil’s state-run oil firm Petrobras, two sources told Reuters. On Sunday, Reuters reported that the ministers of Finance and of Mines and Energy, Fernando […]
By Lisandra Paraguassu and Rodrigo Viga Gaier BRASILIA (Reuters) – The fallout from a missing Petrobras dividend may have shifted the balance in a tug-of-war between the CEO of the state-run firm and the energy minister holding sway over its board. Chief Executive Jean Paul Prates saw his proposal for an extraordinary dividend, widely expected […]
(Bloomberg) — Brazilian markets are slumping after a smaller-than-expected dividend payout from state oil giant Petroleo Brasileiro SA rekindled fears of increased government intervention in the nation’s largest companies. Most Read from Bloomberg The Brazilian real weakened as much as 1.1% on Friday, leading losses among major currencies around the world, while swap rates due […]
SAO PAULO (Reuters) – A meager dividend from Brazil’s state-run oil company Petrobras sent its shares plunging on Friday, erasing more than 70 billion reais ($14 billion) from its market value as analysts questioned how the firm would spend its growing cash reserves. The more than 10% drop in shares reflects investors’ biggest frustration yet […]
(Bloomberg) — Latin America’s biggest oil company will be more cautious about issuing blockbuster dividends as it moves to become a renewable energy powerhouse, Petrobras Chief Executive Officer Jean Paul Prates said in an interview. Most Read from Bloomberg In 10 years about half of Petrobras’s revenue will come from wind, solar and renewable motor […]