Petrobras shares slump as Brazil’s Bolsonaro doubles down on intervention

© Reuters. FILE PHOTO: A logo of Brazil’s state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro By Sabrina Valle and Gram Slattery RIO DE JANEIRO (Reuters) – Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($ 13 billion) in market value, as Brazilian President Jair Bolsonaro again […]

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Bolsonaro says nominating replacement for Petrobras CEO

© Reuters. FILE PHOTO: A man walks past the headquarters of Brazilian oil company Petrobras in Rio de Janeiro SAO PAULO (Reuters) – Brazil’s government has decided to nominate Joaquim Silva e Luna as the next chief executive of state-controlled oil company Petrobras, according to a post on President Jair Bolsonaro’s official Facebook (NASDAQ:) account. […]

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Brazil’s Petrobras executive management in talks on possible mass resignation – sources

By Sabrina Valle RIO DE JANEIRO (Reuters) – Petroleo Brasileiro SA’s executive management is considering resigning en masse after the Brazilian government decided to replace Chief Executive Roberto Castello Branco, three people close to the management said, asking not to be named as information is private. President Jair Bolsonaro earlier said he had decided to […]

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Brazil’s Petrobras to spend $6 billion through 2024 to dismantle platforms, pipelines and wells

© Reuters. People walk in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro RIO DE JANEIRO (Reuters) – Brazil’s state-controlled oil producer Petroleo Brasileiro SA (SA:) plans to spend $ 6 billion through 2024 to decommission 18 offshore platforms, underwater gas pipelines and offshore wells, the company said in a […]

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