Who is Magda Chambriard, new president of Petrobras (PETR3; PETR4)

Magda Chambriard began her career at Petrobras. It was responsible for the first pre-salt auction and was closely related to the major global oil companies.

Chambriard worked for 22 years at Petrobras, where she began working in 1980. Between 2012 and 2016, Chambriard was the general director of the National Petroleum Agency (ANP).

Unlike her predecessor, Jean Paul Prates is a politician (Senator for PT for the State of Rio Grande do Norte). Chambriard is a technocrat and tends to follow President Lula's orders to the letter.

Therefore, she must follow the policy that the president defends, which is to transform Petrobras into a major investor to create jobs in Brazil and help recover the Brazilian economy.

Consequently, Petrobras should use its profits in the coming years to invest in, for example, a new naval industry in Brazil, thermoelectric plants, renewable energy, and the exploration of the Equatorial Margin, which is one of the last unexplored oil frontiers in Brazil. This region comprises the entire coastal strip to the north of the country and takes its name because it is close to the Equator.

Therefore, Alexandre Silveira and Rui Costas, two ministers from the Lula government emerged victorious. Both are lobbyists for thermoelectric plants, which should receive investments now.

The new president of Petrobras, who has already defended the privatization of Petrobras, must follow Lula's ideas. In the first speech she gave, Chambriard already defended the resumption, for example, of the naval industry in Brazil.

Petrobras (PETR3, PETR4) restarts works at the GasLub Hub, in Rio de Janeiro

Having been interrupted since 2015, the company restarted the work in Petrobras' GasLub complex.

On the 2nd, the company reactivated the contracting process to resume work in Itaboraí, in Rio de Janeiro.

The GasLub Complex, previously called the Rio de Janeiro Petrochemical Complex (Comperj), was designed for oil refining in Brazil. The government's idea is to help the country generate products with high-added value.

The entire project has been at a standstill since Operation Lava Jato, which discovered cases of corruption within the company and other companies with contracts at Comperj. However, the current government decided to reactivate all the work.

According to a statement from Petrobras, the set of units, when completed, will have the approximate capacity to produce 12 thousand barrels per day of Group II lubricating oils, in addition to 75 thousand B/D of S-10 diesel and 20 thousand barrels per day of aviation kerosene (QAV-1), with low levels of sulfur content.

The company's estimate is that the reactivation of the complex's works will generate up to 10 thousand direct and indirect jobs. 

Petrobras (PETR3, PETR4) was a highlight of the Brazilian Stock Exchange in April

The company which faced a drop in its shares in March, performed well in April after the decision to partially pay extraordinary dividends to its shareholders. This issue should continue to set the tone for its shares until the end of this year.

Petrobras reached the end of April with the biggest increases in the Ibovespa index, the main indicator of B3.

According to the website Infomoney, the Brazilian oil company's common shares ended April with an appreciation of 18.65%, while preferred shares increased by 15.57%. In the same period, the Ibovespa fell by 1.7% on a monthly basis.

Petrobras' decision on the payment of dividends almost generated a crisis in the Lula government, with the company's president Jean Paul Prates, and the minister of Mines and Energy Alexandre Silveira publicly debating the issue. The extraordinary dividends were withheld on March 19, when the company informed the market of the distribution of 50% of the amount, equivalent to R$22 billion. Petrobras also considered the possibility of distributing the other 50% throughout 2024. The new stance relieved investors who saw the risks of political interference give a respite.

After meeting, Petrobras (PETR3, PETR4) approves payment of 50% of extraordinary dividends

Petrobras' board of directors approved the payment of 50% of extraordinary dividends for 2023. The total dividends will correspond to 43.9 billion reais (approximately 8.5 billion dollars).

Last weeks, this issue has generated a crisis in the Lula government. The president of the state-owned company Jean Paul Prates, who is from PT, President Lula's party (center left), and the Minister of Energy, Alexandre Silveira, who is from the PSD of Minas Gerais, a right-wing party. According to Folha de S. Paulo, Petrobras also signaled additional distribution until the end of the year.

Petrobras (PETR3, PETR4) and Enarsa sign memorandum for partnership studies in the natural gas segment

Brazilian Petrobras and Argentine Enarsa signed a Memorandum of Understanding (MoU) on studies in the natural gas area.

According to Petrobras, the non-binding agreement has a term of three years. During this period, the two companies will exchange information and evaluate alternatives for energy cooperation and complementarity.

However, it still needs to be determined whether the plan will involve the export of gas in liquid format or whether the objectives of the two companies will be to put construction projects for new gas pipelines into practice.

The Brazilian newspaper O GLOBO revealed that the Lula government intends to import natural gas from the Vaca Muerta reserve, in Argentina. Perhaps, this MoU seeks to forward an understanding, including the technical aspects of this operation, between the two companies capable of guaranteeing the supply of Brazilian industries.

Agreement between Petrobras (PETR3, PETR4) and Brazilian government could end billion-dollar disputes

According to the newspaper Folha de S.Paulo, an agreement between the Brazilian government and Petrobras regarding legal disputes could cost between 12 and 15 billion reais, far from the initial forecast of 20 billion reais (around 4 billion dollars).

Petrobras must choose to pay this debt in installments with the Brazilian government through an agreement made with PGFN that aims to resolve subsidies that the oil company has with the Brazilian government. This should prevent the possibility of the company being left without a certificate of regularity, even if for just 24 hours, or that, in turn, impacting characteristics of Petrobras' international contracts.

This agreement, as well as any other that the company makes with the government, has a direct impact on the federal government's accounts.

However, according to Folha de S.Paulo, on April 8, "the company released a statement to the market saying that it was technically evaluating the draft conciliation notice placed for public consultation".

The company also stated that any decisions about those debts will follow “careful technical analyses". According to Petrobras, "facts deemed relevant will be disclosed to the market in a timely manner".

General Joaquim Silva and Luna should take over Petrobras (PETR4) under heavy depreciation in the stock price of the Brazilian state oil company

The investor that was still betting on some kind of reform in Brazil, after the decision of President Bolsonaro in relation to Petrobras, is now completely pessimistic. The dismiss of the president of the state-owned company by social media by the Brazilian president took the market by surprise. Roberto Castello Branco was doing a job praised by the market at the state-owned company, caused Brazilian assets to suffer a high and profound repricing.

According to the newspaper Folha de S.Paulo, analysts believe that the accumulated losses in petrobras' market value can reach R$ 100 billion today, January 22, 2021, following the announcement of the government's change of command of the state.

In general, Bolsonaro's intervention is causing a huge loss of value in Brazilian state-owned companies today.

Jair Bolsonaro dismisses the president of Petrobras (PETR3; PETR4) with a post on Facebook

President Jair Bolsonaro announced today, February 19, 2021, in a Facebook post, the resignation of Petrobras President Roberto Castello Branco.

General Joaquim Silva and Luna will take over from Castello Branco, according to Bolsonaro's post.

According to the Website G1, the replacement will only be realized after the approval of the Board of Directors of Petrobras. The state reported that the board has ordinary meeting scheduled for next Tuesday (23) - the agenda of the meeting was not disclosed.

Petrobras (PETR3; PETR4) suffers from Saudi Arabia's decision to drop the price of oil below US$ 30 to harm Russia/; Vale shares (VALE3) falls 10%

The disputes between Saudi Arabia and Russia over oil prices collapsing. In addition to this dispute, there is also a decline in product consumption due to the new coronavirus, which has been pushing the global economy into recession, a movement that should catch Brazil in a very fragile situation. Analysts say the crisis between the government and Congress, the target of a demonstration encouraged by President Jair Bolsonaro, scheduled for March 15, increases distrust of the country.

2019 is going to be a tough year for Petrobras. Due to the economic effects of Conav-19, there was a drop of 24% in the international price of oil. This led the Brazilian state-owned company to lose about 80 billion reais in market value on the Brazilian stock exchange B3 until 06.03.2020.

Now, with the dispute between Russia and Saudi Arabia influencing oil prices, even more, Petrobras has been hit again. Since the beginning of the year, Petrobras has seen the prospect of annual cash generation falling by 20 billion dollars.

Earlier today, the Ibovespa registered a sharp drop in Petrobras' shares (PETR3; PETR4), which fell 23%; Vale (VALE3), which fell 8%; and banks, which also fell 8% as oil prices plunged up to 30% after Saudi Arabia lowered the prices of the commodity and with projections of a drop of up to $ 20 a barrel.

According to the website Infomoney, "Petrobras' ADRs, on the NYSE pre-market, dropped by up to 20%, Vale's were down 22% and Itaú's were down by around 10% on a day of a general downturn in the stock market".

Earlier this morning, the Brent-type oil futures contract, which serves as a benchmark for the prices charged by Petrobras, dropped 19.9% to 36 dollars a barrel on the London Stock Exchange.

Petrobras (PETR3; PETR4) and YPFB sign transition agreement whereby Bolivian company will continue to export natural gas to Brazil until March 10, 2020

Petrobras announced today that it has signed a Transition Agreement under the natural gas supply contract with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). Under the new agreement, the gas supply will be adopted a transition period from January 1 to March 10, 2020, in Bolivia's gas supply.

Until then, Petrobras and YPFB will "continue the negotiation process with the aim of changing certain trading conditions, in line with the opening process of the Brazilian natural gas market and the new Bolivian market context", according to the note published by the Brazilian state-owned company.

The crisis in Bolivia, which led to the overthrow of the government of Evo Morales, now in exile in Mexico, altered the negotiations between Brazil and Bolivia. Now, who is negotiating with Brazil is Bolivia's Hydrocarbon Minister, Victor Hugo Zamora, who is in Rio de Janeiro for talks with Brazilian authorities.

Bolsonaro and Evo Morales were in diametrically opposed ideological fields. Now, with the arrival of military and evangelicals in Bolivia, after a coup d'état, Brazil and Bolivia now have two governments that are very similar. Both in Brazil and Bolivia, who commands today are religious rights very close to the military forces of both countries.

It is also good to remember that 83% of the gas that Brazil imports come from Bolivia.

Cost of living in Brazil: domestic gas prices, gasoline, and ethanol rise and affect the income of Brazilian citizens

According to the newspaper Folha de S.Paulo, Petrobras readjusted today "the price of cooking gas by about 5%". According to the newspaper, the price increase is valid for all types of LPG (liquefied petroleum gas), which includes domestic (for cooking) and industrial gas.

This is the fifth increase in domestic gas in 2019. The last was on November 25, when Petrobras (PETR3; PETR4) readjusted the domestic gas cylinder price by 4%.

According to a survey by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), in the early days of December, in Belo Horizonte, Minas Gerais, the price of cooking gas rose twice the inflation measured by the IPCA.

Already the price of ethanol in the pumps of gas stations in Brazil is the highest in the last six years. To make matters worse, the price of gasoline has also skyrocketed. Thus, fuel readjustments make life harder for Brazilians this holiday season.

BNDES will sell R$ 38.8 billion in shares in 2020; Petrobras (PETR3; PETR4), JBS (JBSS3). and Copel (CPLE6) are among the shares that will be sold

BNDES has set an initial schedule for the next four equity offerings it will make in 2020, as part of its divestment program, according to the Valor Econômico newspaper. The plan is to sell JBS 'second tranche of shares, a relevant stake in Petrobras, Copel's and Tupy's, which, considering current values, represent sales of R$ 30.8 billion.

According to Valor, the idea of BNDES is to reduce its portfolio of about R$ 120 billion of investments and stakes, reaching the nearest zero in the next three years.

Petrobras employees (PETR3; PETR4) are forbidden to strike by the Brazilian Superior Labor Court (TST)

The Brazilian Superior Labor Court (TST) upheld Petrobras' injunction preventing oil tankers from going on strike on Monday, 25. The schedule was to stop for four days, arguing that the company is breaching parts of the collective bargaining agreement, of clauses concerning safety at work and the environment and rights granted to contractors, according to the Single Federation of Oilers (FUP).

Meanwhile, Petrobras' largest refinery, Replan, in Paulínia (SP), recorded a 25% increase in oil refining last month, with 1,769,770 cubic meters (m³) processed in October representing the best. performance for the period since 2015.

Petrobras (PETR3; PETR4) announces price adjustment for gasoline

According to site G1, Petrobras announced a 2.8% increase in fuel value. The increase comes after importers point out that the rise in international gasoline prices implies a lag, as one industry association said.

The Brazilian state-owned company increased by 2.8% the price in refineries on 11.18.2019.

With the adjustment of about 5 cents, the average price of gasoline should be around R$ 1.84 per liter, higher since the end of May (R$ 1.95), according to data from Petrobras compiled by Reuters.

Mega auction of oil fields in Brazil fails and ends with figures far below that what was expected by the government of Jair Bolsonaro; paradoxically, Brazilian state-owned Petrobras (PETR3; PETR4) dominated the auction by a government that claims to be liberal in the economy

The pre-salt auction that took place today in Brazil was the dream of neoliberals who are in charge of the country's economy. Despite every announcement made, the lion was a resounding failure. Atapu camp did not even receive an offer.

The Brazilian government announced that it expected to raise more than $ 100 billion reais. However, in the end, the government only managed to get only $ 69,9 billion, which was received with great frustration.

The poor performance of the auction was not well received by the Brazilian financial market. One of the main developments of the fiasco was the dollar soaring and hitting the R$ 4,08.

The failure of the auction was therefore very badly received by the Brazilian financial agents. After the lion, in addition to the rise of the dollar, future interest rates also rose. 

Petrobras, a Brazilian state-owned company, bought 100% of a block and 90% of the largest one on the auction in partnership with Chinese state-owned companies CNODC and CNOOC.

It is very paradoxical that the auction made by a neoliberal government was dominated by Chinese communist companies and a Brazilian state-owned company.

The auction denied analysts that were saying that the pre-salt would be sold for a very low price. That did not happen simply because no multinational (BP walks Total) wanted to participate in the auction. The auction also denied those who were saying that this auction would be a kind of resurgence of Brazil's economy. At the end of the story, most of the auctioned oil went to Petrobras and the rest went to China.

Members of the Federal Prosecution Service of Brazil (MPF) file a civil action against President Jair Bolsonaro's government to force him to act to combat the oil spill that is already the biggest environmental disaster in the country's coastal history

Prosecutors in nine northeastern states accuse the Brazilian federal government of omission. They decided to go to court to demand that the federal government trigger a 24-hour contingency plan, which was created in 2013 and was terminated on April 2014 by the Jair Bolsonaro (PSL) government. Following the adoption of the measure imposed by the government of Jair Bolsonaro, dozens of boards of the federal administration and two committees that were part of the National Contingency Plan for Oil Pollution Incidents (PNC), were extinguished.

So far, oil containment that is polluting several beaches in northeastern Brazil is being done by Petrobras and state governments. The governor of Bahia, Rui Costa, publicly discussed with the Minister of the Environment, Ricardo Salles, through Twitter.

Costa said Salles should "stop doing politics and work" and asked the minister if she already knew who was responsible for the "very serious environmental accident" and what the minister had done about the leak.

The lack of action by the federal government is very serious indeed. The problem of oil slicks on the Brazilian coast began in August, but only in recent days has the federal government started to act a little more intensely. However, Jair Bolsonaro, who has not visited any of the affected areas, will travel to Asia in the midst of the biggest environmental crisis of the history of the Brazilian beaches.

Since August 30, 187 regions of the Brazilian Northeast coast have been reached. 12 conservation units were polluted. Beautiful beaches that attract thousands of tourists every year were hit, as is the case of São José da Coroa Grande (PE) beach.

The images are terrifying. In many beaches, the residents themselves are gathering to try to remove the oil and save the environment, but the lack of a plan of combat and action by the federal government in these regions is evident.

Petrobras (PETR3; PETR4) announces employee benefit cut

According to Suno Research, Petrobras (PETR3; PETR4) will begin to withdraw benefits and migrate to current labor legislation. This means that the Brazilian state-owned company, faced with the current deadlock in negotiations with the Single Federation of Oil Tankers (FUP), regarding the collective bargaining agreement, decided to go for individual agreements, with some specific benefits. This, of course, greatly weakens workers and will favor the company, which may adopt more aggressive stances in individual negotiations.

Currently, Petrobras and FUP are negotiating in the Superior Labor Court (TST) to try to reach a new collective agreement. According to the FUP, among the points under discussion are the compensation for overtime and co-participation in the health plans of employees.

This stalemate could lead the category to a strike, which could gain greater connotations and hinder the sale of pre-salt oil fields at the so-called mega auction scheduled for November this year. Petrobras, in turn, said in a statement that "it was tireless in seeking a deal", even presenting two new versions of its original proposal.

Petrobras (PETR3; PETR4) will no longer operate in gas distribution and transportation; Petrobras raises gasoline price by 2.5%

Petrobras' Board of Directors approved the update of the company's new strategic plan, valid for the period 2020 to 2024. Under the plan, Petrobras will no longer fully operate in gas distribution and transportation and will also exit the fertilizer, distribution and distribution business. LPG and biodiesel.

The state-owned company, with the implementation of the new strategy, will act competitively in the commercialization of its own gas and will fully exit gas distribution and transportation.

Petrobras President Roberto Castello Branco said the company will be engaged in deepwater oil exploration and production and will be less indebted.

Today (27.09.2019), Petrobras has again raised the price of gasoline in refineries. The new values practiced indicating a 2.5% readjustment compared to the value of the previous day.

Petrobras shares (PETR3; PETR4) may be highlighted in the coming days at Bovespa (B3)

According to Credit Suisse, Petrobras (PETR3; PETR4) could benefit from the soaring oil prices. This may benefit the company, but Petrobras may also raise fuel prices in Brazil.

Meanwhile, according to the Relatório Reservado website, the Russian company Acron broke Petrobras' monopoly on gas. The group, which bought the state's own nitrogenous unit in Três Lagoas (MS), will be heavily involved in the acquisition of the input directly from Bolivia, without intermediaries. Gas is the highest estimated cost of the venture, whose works will still be completed by Acron.

Today, Petrobras reported that the FPSO P-68 platform left the Jurong Aracruz shipyard for the Berbigão and Sururu fields in the Santos basin pre-salt in São Paulo. The Brazilian state anticipates that the start of production of FPSO P-68 will occur in the fourth quarter of 2019, according to a statement published today (16.09.2019).

Petrobras (PETR4; PETR3) studies creating two new companies for its thermoelectric plants and transportation to make IPOs on Bovespa (B3); for Goldman Sachs, Petrobras presented "positive news about pre-salt cost efficiency"

According to Jornal do Comércio, Petrobras intends to create two new companies to enable the sale of part of its transportation and energy assets. The information was given by directors of the state and the president Roberto Castello Branco in a meeting with market analysts. 

The strategy is that these companies group several assets to be offered in the stock market through an IPO similar to that made with BR Distribuidora (BRDT3), which generated almost R $ 9.6 billion.

Goldman Sachs analysts published a report following a meeting with Petrobras President and Chief Financial Officer Andrea Almeida highlighting “positive news about pre-salt cost efficiency”. For them, the Brazilian state managed to achieve, in the most recently developed platforms, an extraction cost as low as $ 4 per barrel, or 33% below the pre-salt average in the second quarter of 2019.