|Bid||29.73 x 0|
|Ask||29.74 x 0|
|Day's Range||29.66 - 30.14|
|52 Week Range||20.00 - 33.70|
|Beta (3Y Monthly)||1.48|
|PE Ratio (TTM)||12.23|
|Earnings Date||Nov 1, 2019|
|Forward Dividend & Yield||0.80 (2.68%)|
|1y Target Est||29.21|
Brazil's development bank BNDES is mulling strategies to sell its stakes in listed companies such as state-controlled oil company Petrobras SA , two sources with knowledge of the matter said on Thursday. As discussions are still ongoing, BNDES may start divestments only next year, the sources added. BNDES, which has nearly 110 billion reais ($27.23 billion) in listed assets, has been considering either a direct sale of shares through its treasury desk or share offerings, the sources said.
Brazilian authorities arrested a former energy minister's son on Tuesday for allegedly receiving 50 million reais in bribes ($12 million) together with his father, involving the construction of a giant dam. Prosecutors also allege that Edison Lobao received bribes but did not arrest him on Tuesday. Prosecutors said they were investigating corruption amounting to 1 billion reais in more than 40 contracts linked to the construction of the Belo Monte dam, one of the world's largest and located in the northern state of Para.
Moody's Investors Service (Moody's) assigned a Ba2 rating to Petrobras Global Finance B.V.'s proposed new global notes, which will be unconditionally guaranteed by Petroleo Brasileiro S.A. - PETROBRAS (Petrobras, Ba2 stable). The Ba2 rating on the proposed notes is based on the rating of Petrobras. The proposed notes are senior unsecured and pari passu with Petrobras Global Finance B.V.'s and Petrobras' other senior foreign currency debt.
RIO DE JANEIRO/BRASILIA (Reuters) - The chief executive of a natural gas pipeline unit of Brazilian state oil firm Petrobras has been removed, the company told Reuters on Thursday, after a middleman in a graft scheme implicated him in plea bargain testimony. Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which operates a 1,610-mile pipeline transporting natural gas from Bolivia to Brazil, said its board approved the removal of Ivan de Sá on Wednesday at the request of Petrobras, its majority shareholder. TBG did not state the reason for his removal, nor offer any further details.
BRASILIA/RIO DE JANEIRO (Reuters) - A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global energy trading firm Vitol in a bribery operation to obtain oil contracts, as well as two high-ranking executives at rival Trafigura and its former CEO, according to plea bargain testimony seen by Reuters. The individuals named in the previously unreported documents are Ian Taylor, the chairman of Vitol, as well as Claude Dauphin, the former chief executive and chairman of Trafigura. Trafigura co-head of oil trading José Larocca and chief operating officer Mike Wainwright were also implicated in the alleged scheme.
Brazil's Lojas Americanas SA has signed a nonbinding memorandum of understanding with fuel distributor Petrobras Distribuidora SA to study a partnership in the convenience store segment, the discount retailer said on Friday. In a securities filing, Lojas Americanas said the discussions are in "preliminary stages," and no decisions have been made in terms of the partnership's structure or value, or the timeline of the negotiations.
Brazil's influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatizing state-owned oil company Petrobras, but stiff political opposition could stifle any effort to sell the country's corporate crown jewel. Petrobras, or Petroleo Brasileiro SA, was founded in 1953 by former president Getulio Vargas following a nationalist campaign that began in the 1940s with the anthem "The oil is ours". Selling the company would cap off the drive by Economy Minister Paulo Guedes, a Chicago school-trained economist and disciple of Thatcherite economics, to maximize privatization, deregulation and free-market activity.
SAO PAULO/RIO DE JANEIRO (Reuters) - Brazil's planned privatization of eight Petroleo Brasileiro SA refineries has lured several of the world's largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. Around 20 companies have signed non-disclosure agreements granting them access to the refineries' data and signaling that they are considering a bid, the sources added, speaking on condition of anonymity to disclose private details of the sale. The first round of non-binding offers for four of the eight refineries Petrobras put on the block is due on Oct. 11, the sources said.
Find out why Brazil and India, two of the largest and most important emerging market economies, appear to be headed in very different directions.
RIO DE JANEIRO/SAO PAULO, Aug 23 (Reuters) - A group led by investment firm Itausa Investimentos SA delivered the highest bid to acquire Brazil's state-controlled oil company Petroleo Brasileiro SA LPG distribution unit, two people with knowledge of the matter said. Petrobras, as the oil company is known, expects to sign a final agreement to sell Liquigas Distribuidora SA by November, after further talks with the leading bidder, one of the sources said. The second source said Itausa and its partner, local LPG distribution firm Copagaz, will now discuss details of the sale contract, in a similar process to the sale of gas pipeline network TAG to France's Engie.
Moody's Investors Service (Moody's) affirmed the Ba2 corporate family rating of Petroleo Brasileiro S.A. - PETROBRAS (Petrobras). Simultaneously, Moody's raised the company's baseline credit assessment (BCA) to ba2 from ba3.
BRASILIA/SAO PAULO, Aug 23 (Reuters) - Brazil's federal police on Friday raided the headquarters of Latin America's largest independent investment bank, Banco BTG Pactual SA , and the addresses of its founder Andre Esteves, federal prosecutors said in a statement. Maria das Gracas Foster, former chief executive of state-controlled oil company Petroleo Brasileiro SA, was also a target, the statement said. The raids were related to the sale of stakes in African oilfields to BTG Pactual, it said.
Brazil’s government wants to privatize Petrobras by the end of its term, in 2022, Reuters reports, citing information from unnamed sources carried by Brazilian media
The economic team of Brazilian President Jair Bolsonaro wants to privatize state-controlled oil company Petroleo Brasileiro SA before the end of his term in 2022, Brazilian newspaper Valor Economico reported on its website on Wednesday, citing anonymous sources. The report also cites a speech by Economy Minister Paulo Guedes at an event hosted by Valor. "There are big guys thinking they won't be privatized, but we will get there," Guedes is reported as saying.
More than 20 potential bidders are interested in the refineries that Brazil's state-controlled oil company Petroleo Brasileiro SA plans to sell, the company's chief executive officer said on Tuesday. CEO Roberto Castello Branco said more than 20 groups are interested in the four refineries in a first phase of privatizations. Two are in the northeastern states of Pernambuco and Bahia, and two are in the southern states of Parana and Rio Grande do Sul.
The global market for floating production, storage and offloading vessels is rebounding again, with as many as 24 new FSPO’s expected by 2020