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Petrobras

All articles tagged with #petrobras

business1 year ago

Petrobras Shareholders Frustrated as Dividend Disappoints

Petrobras shares dropped over 11% after delivering a smaller-than-expected dividend to shareholders, causing market shock. The decision was influenced by internal pressures from the board and challenges from the Brazilian government. President Luiz Inacio Lula da Silva and his administration want the money to be invested in Petrobras' large investment plan, including renewable energies, leading to concerns about government interference in state-owned enterprises and spooking investors.

via Yahoo Finance|
#brazilian-government#business#dividend-payout
financeeconomy1 year ago

Petrobras Dividend Sends Brazil Markets Plunging

Brazilian markets slumped after state oil giant Petrobras announced a smaller-than-expected dividend payout, leading to concerns of increased government intervention in the nation’s largest companies. The Brazilian real weakened, swap rates climbed, and the benchmark equity index fell to its lowest in over three weeks, with Petrobras shares dropping over 10%. Analysts rushed to remove their buy-equivalent ratings for Petrobras, citing unpredictable political risk. The dividend announcement is seen as a setback for Brazilian investors, signaling potential political influence over corporate sectors.

via Yahoo Finance|
#brazil#dividend#financeeconomy
business-finance1 year ago

"Petrobras Plunge: Disappointing Dividends Wipe Out $14 Billion in Market Cap"

Petrobras, Brazil's state-run oil company, saw its market value drop by over $14 billion after disappointing investors with a meager dividend payout, causing a more than 10% plunge in its shares. Analysts expressed frustration with the company's management and questioned its capital spending plans, leading to downgrades from several financial institutions. The decision not to pay an expected extraordinary dividend raised concerns about government influence and potential shifts in the company's strategic focus, with some analysts speculating on increased investment in renewables or pursuing mergers and acquisitions.

via Yahoo Finance|
#brazil#business-finance#dividend
finance2 years ago

"Top 4 High-Yield Dividend Stocks for January 2024"

The top four dividend stocks under $25 with high yields for January 2024 include Petróleo Brasileiro S.A. (PBR), FS KKR Capital Corp. (FSK), Trinity Capital Inc. (TRIN), and Frontline PLC (FRO). These companies offer forward dividend yields ranging from 13.2% to 17.6% and operate in sectors such as energy/oil, finance, and transportation/marine shipping. Investors should be cautious of high-dividend stocks with payout ratios over 100% or negative, as this may indicate unsustainable practices.

via Investopedia|
#dividend-stocks#finance#financial-investments
energy2 years ago

Brazil's Petrobras Sets Ambitious $102 Billion Investment Plan to Boost Oil Output

Brazil's state-owned oil major, Petrobras, is aiming to boost the country's oil output and solidify new European partnerships, despite concerns over environmental impact. Petrobras plans to develop 11 more platforms in Brazil's pre-salt region by 2027, but output from the region is expected to peak by 2029. Environmentalists worry that Petrobras's ambitions clash with President Luiz Inácio Lula da Silva's aim for ecological protection. However, Petrobras has pledged to invest in green energy projects and recently signed a memorandum of understanding with Danish company European Energy to explore the potential for developing an e-methanol plant in Brazil. The company's recent deals with renewable energy companies indicate its potential to transition towards renewables while leveraging its oil revenues and experience.

via OilPrice.com|
#brazil#energy#environmental-concerns
energy2 years ago

Petrobras Secures Attorney General's Support for Amazon Oil Exploration

Brazilian state-run oil company Petrobras expects to continue producing oil for the next four decades while also increasing investments in renewable energy. The company plans to maintain a balanced portfolio, investing in both oil and renewables, while keeping its proven reserves stable. Petrobras aims to drive the energy transition aspired by President Luiz Inacio Lula da Silva but acknowledges the future drop in global oil demand. The company is also defending its controversial bid to drill a well at the mouth of the Amazon River, despite opposition from environmental groups.

via Reuters|
#energy#energy-transition#fossil-fuels
environment2 years ago

"Protesters, Governments, and Indigenous Activists Unite to Protect Amazon's Future"

Environmental protesters gathered outside a convention center in Brazil to oppose plans by state-run oil company Petrobras to drill for oil at the mouth of the Amazon river. Petrobras has appealed against a decision by Brazil's environmental protection agency, Ibama, to deny permission for drilling, citing a lack of environmental assessment. The company holds exploration rights in a deepwater area south of where Suriname and foreign companies have discovered significant oil reserves. Brazil's Environment Minister stated that Ibama will impartially study Petrobras' new request, while President Luiz Inacio Lula da Silva said a decision on exploration in the area would be made soon.

via Reuters|
#amazon#environment#environmental-protest
business2 years ago

Brazil's Petrobras Exceeds Profit Expectations, Announces $3 Billion Payout

Brazilian state-run oil company Petrobras reported a 36% drop in second-quarter profits due to falling crude prices, but still exceeded analyst expectations. The company blamed the decline on lower international oil prices, a decrease in diesel crack spreads, and higher operating expenses. Petrobras also announced a $3.03 billion payout to shareholders, the first under a new shareholder remuneration policy. The company had previously warned of a possible dip in sales volume and reported slightly lower crude output for the quarter. Overall revenue was down by a third from the previous year.

via Reuters|
#brazil#business#dividends
politics2 years ago

Brazilian ex-president receives 9-year sentence for corruption.

Brazil's Supreme Court has sentenced former President Fernando Collor de Mello to eight years and 10 months in prison, after he was convicted of corruption and money laundering. The 73-year-old was found guilty of taking $4m in bribes from a subsidiary of state-owned oil company Petrobras while he was a senator from 2010 to 2014. Collor did not comment on the sentencing, but a note released by his lawyers at the time of his conviction said he did "not commit any crime" and expressed confidence that he would ultimately be exonerated.

via DW (English)|
#brazil#corruption#fernando-collor-de-mello
politics2 years ago

Lula's coalition in turmoil over Petrobras' Amazon project block.

Brazil's environmental regulator, Ibama, has blocked state-owned oil company Petrobras' Amazon oil project, exposing tensions in President Lula's coalition between green advocates and those prioritizing economic development. The decision has riled some within the governing coalition, but environmental groups celebrated it. Exploration rights in the area were auctioned in 2013, but oil majors BP and TotalEnergies pulled out due to the cost of the off-shore studies and difficulties in obtaining licenses for drilling, while Petrobras kept going. The ruling effectively ends all future development of the unexplored oil prospects at the mouth of the Amazon river.

via Reuters|
#brazil#economic-development#environment
environment2 years ago

Petrobras denied drilling in Amazon by Brazil's environment agency.

Brazil's environmental protection agency, Ibama, has rejected a request from Petrobras to drill a well at the mouth of the Amazon river due to discrepancies in environmental studies, inadequate measures for communicating with indigenous communities, and insufficiencies in Petrobras' plan to safeguard the region's wildlife. The decision follows a technical recommendation by the agency's experts to reject the proposal.

via Reuters.com|
#amazon#brazil#environment
business2 years ago

Mixed Results for Brazilian Companies Petrobras and JBS in Q1 Earnings

Petrobras reported strong Q1'23 results, beating market expectations despite a slight decline in revenue and gross profit. The company proposed another large dividend distribution for Q1'23 and signaled intentions to add share buybacks to its shareholder return policy. Debt remains manageable, and the market may start reducing the political risk discount as fears of radical changes in the company's governance seem largely exaggerated. Petrobras remains deeply undervalued compared to its peers, presenting an attractive entry point for investors willing to bear the risks.

via Seeking Alpha|
#business#buybacks#dividends
business2 years ago

Energy Giants and Oil Prices Plunge Amid Economic Concerns.

Shares of oil and natural gas majors Chevron, ExxonMobil, and Petrobras fell significantly due to reports of a global economic slowdown, the ongoing turmoil in U.S. regional banks, and thinner-than-usual trading. Weak economic data and the potential for the Federal Reserve to hike interest rates into a weakening economic picture caused oil prices to plunge, exacerbating the decline in oil prices. The messy macroeconomic picture pushed oil prices down by about 5% to their lowest levels since December.

via The Motley Fool|
#business#chevron#economic-slowdown