A Petrobras director was dismissed after Brazilian President Lula da Silva criticized an auction of 70,000 tons of liquefied petroleum gas, which was sold for more than double the tabulated price, calling it 'banditry.'
Prices for commercial LPG have increased by Rs 195.50, premium petrol by Rs 11 per litre to Rs 160, and jet fuel has crossed Rs 2 lakh per kilolitre, with these surges attributed to escalating global oil prices linked to the West Asia conflict. The US-Israel war with Iran is directly hitting India's aviation and hospitality sectors, causing record-breaking aviation fuel prices and more expensive commercial LPG cylinders.
Petrobras continues to be a top holding in the iShares MSCI Brazil ETF and has received a 'Strong Buy' rating, indicating investor confidence in the Brazilian oil giant.
Petrobras (PBR) announced its 2025 results, noting a 14% drop in Brent crude prices while achieving a milestone of 1 million barrels per day in output.
Brazilian state-owned oil company Petrobras has undergone a leadership change, with Pogliese being named as the new chairman. This shake-up signals a new direction for the company's governance.
Financial commentator Jim Cramer stated his wish that he had recommended Petrobras stock to investors sooner, indicating a positive view on the company's past performance.
Petrobras has announced the discovery of 'high quality' oil reserves in an offshore location near Brazil, potentially boosting the country's energy prospects.
Brazilian oil company Petrobras is set to purchase Petronas' 50% stake in the Campos Basin for $450 million, expanding its offshore oil and gas assets.
Jefferies has downgraded Petrobras to a 'Hold' rating, citing concerns over Brazil's new oil export tax as a key factor impacting the company's outlook.
The Brazilian oil company Petrobras seeks to eliminate the country's dependence on diesel imports, which currently cover about 30% of national consumption, with a plan to increase production by approximately 300,000 barrels.
The Iran war continues to cause a global energy shock, driving fuel prices up and shaking the world economy, with Asia looking to COVID-era playbooks to tackle the crisis from the Strait of Hormuz blockage. Daily life in Asia is disrupted by the fuel crisis, and poor countries face catastrophe as the global economy pays a high price for the conflict.
Petrobras has commenced gas injection operations at its Buzios field, utilizing a large FPSO (Floating Production Storage and Offloading) vessel from Seatrium.