Tag: Petrobras
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Petrobras (PETR4) announces a new dividend policy and will pay 45% of free cash flow to shareholders
The new policy allows for share buybacks, which, when executed, will be carried out through an approved structured program by the Council. The Board of Directors of Petrobras (PETR3; PETR4) announced on Friday (28th) that it has approved its new dividend policy, which also allows for share buybacks, according to a document sent to the…
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Unveiling Brazil’s Stock Market and Investment Fund Landscape: A Guide for Foreign Investors
Introduction:Brazil’s stock market, known as B3 (Bolsa de Valores, Mercadorias e Futuros), and its investment fund landscape offer foreign investors ample opportunities to participate in Brazil’s dynamic capital markets. In this blog post, we will provide an overview of Brazil’s stock market and delve into the investment fund landscape, discussing the main indices, top-listed companies,…
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Petrobras to raise up to US$ 2.3 Billion in IPO of it’s distribution subsidiary
BR Distribuidora, distribution arm of Petrobras (PBR), started yesterday the process that should be the largest IPO since 2013 in Brazil. With the sale of a maximum of 33.75% of its stake in BR, the parent company Petrobras may raise up to R$ 7.5 billion (US$ 2.3 Bi), an important figure for its divestment plan.…
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Brazil taps ex-Bunge boss Parente as Petrobras CEO, replaces Bendine
Brazil’s interim President Michel Temer named Pedro Parente chief executive officer of state-led oil company Petroleo Brasileiro SA on Thursday as his government tries to kick-start a shrinking economy and shore up the debt-laden oil producer.Parente, an engineer, former Bunge Ltd executive and one-time chief of staff to former President Fernando Henrique Cardoso, replaces Aldemir…
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Oil Workers Strike in Brazil for Wages, Investments, Assets
Twelve oil work unions which are part of the Oil Workers Federation (FUP) in Brazil began on November 1st, a strike at Petrobras refineries all over the country. According to union officials, strikers are protesting against Petrobras’ asset sales, investment cuts, project suspensions, and reduction of some workers’ rights. “The strike was agreed upon more…
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Petrobras to Pay R$ 2.2 billion to ANP – National Oil Agency
Petrobras (PBR) reported today, after the market close, that the Arbitration Court issued on July 2nd, an interim decision on the arbitration proposal by Petrobras regarding the resolution of ANP (National Agency of Petroleum, Natural Gas and Biofuels), which considers the concessions Baleia Anã, Baleia Azul, Baleia Franca, Cachalote, Caxaréu, Jubarte and Pirambu as a…
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Petrobras Plans to Raise US$ 6 Billion with Sale of its Distributor, BR Distribuidora
The sale of a slice of BR Distribuidora or attracting a private partner for the company will be the first step in Petrobras’ (PBR) asset sale plan, necessary to reduce the company’s debt level. Last night, the company officially announced this intention. The plan is to try and complete the operation this semester. The state-controlled…
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After the Merge with BG, Shell will have 20% of its Global Production in Brazil
Responsible for the biggest oil industry M&A deal in the past decade, the president of Royal Dutch Shell, Ben van Beurden, does not rule out increasing the company’s exposure in Brazil, expanding the already billionaire investment program that will be put in place following the merger with BG. After the merger of $ 70 billion…