|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||11.23 - 11.44|
|52 Week Range||9.34 - 14.80|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Brazil’s embattled president may find little reprieve as striking truckers loosen their grip on the nation’s roadways in their seventh day of fuel-price protests: an oil workers union plans its own walkout later this week. President Michel Temer is meeting Sunday with ministers in the nation’s capital in an effort to end the strike, which newspaper Valor Economico estimates cost Latin America’s largest economy more than 9.5 billion reais ($2.6 billion) during its first five days. Most roadblocks have at least partially opened, with several trucks moving to the shoulder to let passenger cars pass freely.
A truckers protest over diesel prices that has crippled key sectors of Latin America's biggest economy dragged into Friday night, putting drivers in a standoff with Brazilian President Michel Temer who authorized military force to clear highways. South America's largest city and economic hub Sao Paulo decreed a state of emergency, as did Rio de Janeiro. Lack of feed supplies may cause one billion birds and 20 million hogs to die, Brazilian meat group ABPA said.
Brazil's Bovespa equities index fell over half a percent on Friday, as a truckers' protest entered its fifth day, hobbling a wide range of industries from aviation to agribusiness. Negotiators for several ...
Brazilian politicians, businesses and consumers are feeling the pinch on day five of a nationwide truckers' strike that has prompted fuel shortages and bottlenecks at ports in one of the world's biggest commodity exporters. Fuel prices have doubled in Brazil. The company's shares fell over 15% yesterday and are unlikely to recover today as strikes by delivery service providers continue on Friday.
Brazil's state-run oil company Petroleo Brasileiro SA will cut gasoline prices by 0.32 percent to 2.0096 reais per liter, its fourth consecutive cut, the company said on its website on Friday. The price ...
May 25 (Reuters) - MISC Bhd: * UNIT GETS CHARTER CONTRACT TO OWN, OPERATE 4 SPECIALIST DP2 SUEZMAX SIZE SHUTTLE TANKERS FROM PETROBRAS TO OPERATE IN INTERNATIONAL,BRAZIL WATERS Source ( https://bit.ly/2J8j8uc ...
The head of Brazil's state-owned oil company Petrobras Pedro Parente pledged there would be no more fuel price cuts after a surprise decision to temporarily slash diesel prices caused the company's stock to plunge as much as 15 per cent on Thursday. “We recognize that the government's ownership of Petrobras and the company's considerable market position in the Brazilian refinery system could expose it to political influence, especially amid scenarios of stronger oil prices, exchange rate movements, and changes in the government,” Standard & Poor's said in a note on the change.
SÃO PAULO—Brazil’s government said Thursday evening it had reached an agreement with several truckers unions to suspend a four-day strike that has disrupted the economy and left many businesses without vital supplies, but one of the country’s biggest drivers groups said it would continue the work stoppage. The Brazilian Association of Truckers, which says it represents about 700,000 of Brazil’s approximately 1 million independent drivers, walked out of the talks and rejected the agreement. Representatives of Brazilian President Michel Temer and truckers unions met for hours Thursday, and the government agreed with most of the remaining unions represented to cut a fuel tax and take other measures to help drivers.
The government has proposed to Brazilian state-led oil firm Petroleo Brasileiro SA that the Treasury compensate it for up to 1 billion reais in losses if it maintains a 10-percent reduction in diesel prices ...
Brazilian congressman Osmar Terra said on Friday that the government of President Michel Temer is now proposing that a 10-percent reduction in diesel prices be stretched out for 30 days and that state-led ...
Brazil’s truckers are in the fourth day of a strike that’s wreaking havoc on the economy, affecting everything from sugar mill operations to mail delivery. The truckers are striking to protest fuel prices that have increased by about 50 percent from a year ago. Petrobras announced a 10 percent cut in wholesale diesel prices late Wednesday to help the government negotiate an end to the strike.
Brazilian stocks fell for a second day on Thursday, pressured by national oil company Petrobras, while other Latin American markets were also down after the United States canceled a North Korea summit ...
A surprise decision by Brazil's state-controlled oil company Petroleo Brasileiro SA to cut diesel prices in response to truckers' protests is worrying some potential buyers of Petrobras' refineries, three people with knowledge of the matter said on Thursday. Petrobras' planned sale of a 60 percent stake in four refineries, announced on April 19, is part of a wider effort to unload assets to reduce debt. Petrobras has said it will retain around 75 percent of its domestic refining capacity after the privatization of the four units.
Brazilian stocks dropped for a second day on Thursday, as shares of Petróleo Brasileiro SA plummeted after the state-controlled oil company announced a temporary diesel price cut. Brazilian truckers kept protesting high diesel prices for a fourth day on Thursday, crippling highways nationwide even after the company acted. Brazil's lower house of Congress voted on Wednesday to eliminate certain taxes on diesel.
Investors punished Brazil's Petroleo Brasileiro on Thursday after the state-controlled oil giant cut diesel prices, fanning fears of government meddling at the company as it reemerges from years of corruption and financial woes. The 10 percent cut, which will last 15 days, is aimed at calming tensions over surging fuel prices, which stoked a nationwide trucker protest hammering commerce across Latin America's largest economy. In announcing the surprise move late on Wednesday, which should cost around 350 million reais, the chief executive of the oil firm known as Petrobras, Pedro Parente, insisted that the company was not responding to government pressure.
Petroleo Brasileiro (NYSE: PBR), also known as Petrobras, was downgraded by Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley Thursday after announcing that it will temporarily cut diesel prices in Brazil. Petrobras announced Wednesday that it will lower diesel prices in Brazil by 10 percent for the next 15 days. The consensus on Wall Street is that the move will have only a negligible impact on Petrobras’ revenues.
Brazilian truckers protesting high diesel prices for a fourth day on Thursday said they would maintain road blockades until measures to reduce fuel taxes are enshrined in the official gazette. With protests crippling highways nationwide, Brazil's lower house of Congress voted on Wednesday to eliminate certain taxes on diesel. The Senate has yet to vote on tax cuts truckers say are needed before they will end protests that threaten grains exports, industrial output and fuel supply at airports and gasoline stations.
Large parts of Latin America’s largest economy are seizing up. Truckers across Brazil have been striking for four days, furious at the price of diesel. On Thursday, drivers lined up for hours to get gasoline as the work stoppage showed little sign of ending.
It’s hard to serve a Big Mac without the bun. A truckers’ strike in Brazil over higher diesel prices has left at least one McDonald’s in Copacabana struggling to serve its customers. The last perishable food delivery received at the restaurant was May 18, manager Yladian Barbosa told O Globo newspaper.
plunged nearly 15 per cent in early trade on Thursday after the company’s overnight announcement of a surprise diesel price cut to pacify striking truckers. The cut surprised markets, which had expected Petrobras to stick rigidly to a new policy of selling at international prices after years of offering subsidised rates to consumers that had led it to near bankruptcy. Petrobras said the reduction would be in place for 15 days, after which it would gradually resume its policy of selling its products at international prices and passing on any movements in global markets immediately to consumers.
RIO DE JANEIRO/BRASILIA, May 23 (Reuters) - Brazil's state-led oil company Petrobras on Wednesday temporarily cut diesel prices by 10 percent in order to help the government and truck drivers resolve a protest crippling highways. The surprise decision, aimed at resolving a standoff threatening grains exports, industrial output and even fuel supply at airports and gas stations, will bring immediate relief for angry truckers but raise investor concerns about government interference at Petroleo Brasileiro SA.
Brazil's state-owned oil company Petrobras bowed to pressure from a growing truckers' strike over high fuel prices in Latin America's largest country, announcing a temporary 10 per cent cut in diesel prices. ...
A surprise decision by Petrobras to cut diesel prices in response to truckers' protests is worrying some potential buyers.
May.24 -- Brazil’s truckers are in the fourth day of a strike that’s wreaking havoc on the economy, affecting everything from sugar mill operations to mail delivery. The truckers are striking to protest fuel prices that have increased by about 50 percent from a year ago. Petrobras announced a 10 percent cut in wholesale diesel prices late Wednesday to help the government negotiate an end to the strike. Bloomberg's Raymond Colitt talks with Alix Steel about the strike and Petrobras.