(Reuters, 26.Aug.2022) — President Jair Bolsonaro said on Friday he has authorized Minister of Mines and Energy Adolfo Sachsida to consider the privatization of oil company Petrobras next year, if the president is re-elected in October. “Sachsida has this idea. I gave him the green light to discuss privatization of […]
Tag: Jair Bolsonaro
Lula’s Plan to Keep Petrobras State-Controlled Is a Mistake, Minister Says
(Bloomberg, 26.Aug.2022) — Luiz Inacio Lula da Silva’s plan to keep Brazil oil giant Petroleo Brasileiro SA as a state-controlled company if elected again is a mistake, according to Energy Minister Adolfo Sachsida. Former president Lula, the front-runner for the October elections, has been promising to reverse years of cost […]
Bolsonaro Hints at Change in Petrobras’ Profit Distribution
(Reuters, 16.May.2022) — Brazilian President Jair Bolsonaro suggested on Monday he may tinker with state-run company Petrobras‘ profit policy, cutting the percentage distributed to shareholders, as he looks to curb fuel price hikes ahead of the country’s October elections. In a speech during an event in Sao Paulo, Bolsonaro said […]
Bolsonaro Replaces Energy Chief After Brazil Fuel Price Hike
(Bloomberg, 11.May.2022) — Brazilian President Jair Bolsonaro replaced his Energy Minister just days after state-run Petroleo Brasileiro SA ignored his plea to not raise fuel prices, which has become a major political issue ahead of his re-election bid in October. Bento Albuquerque, who served in the role for more than […]
Petrobras Raises Diesel Prices Despite Bolsonaro Complaints
(Bloomberg, 9.May.2022) — Brazil’s state-controlled oil giant Petroleo Brasileiro SA raised domestic diesel prices just days after President Jair Bolsonaro bashed the company for too-high profits. After holding prices stable since March, Petrobras announced an 8.9% increase in diesel prices for distributors to 4.91 reais a liter ($0.96), it said […]
Guyana and Brazil Agree on Actionable Framework – President Ali
(DPI, 7.May.2022) — His Excellency Dr Irfaan Ali announced that Guyana and Brazil have agreed on an “actionable framework” in the areas of food security, energy, infrastructure and national security. This announcement was made following a meeting between Brazil’s President, His Excellency Jair Bolsonaro, members of his cabinet and the Guyana […]
Guyana, Brazil Sign Treaties on Civil, Criminal Matters
(DPI, 7.May.2022) — Guyana and Brazil have mutually agreed to provide legal assistance in civil and criminal matters, through the signing of two bilateral agreements, at the Arthur Chung Conference Centre (ACCC) on Friday. The signing of the treaties, which were done by Minister of Foreign Affairs and International Cooperation, […]
Brazil’s President Calls Petrobras Profits a ‘Rape’
(Reuters, 5.May.2022) — Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise fuel prices again, and compared the company’s profits to a “rape” of the country. The far-right leader said a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, […]
Petrobras CEO Ousted Amid Spat Over Fuel Prices
(Bloomberg, 28.Mar.2022) — Latin America’s biggest oil producer Petroleo Brasileiro SA will have its third chief executive officer since early 2021 after Joaquim Silva e Luna was pushed out following growing political pressure to contain fuel prices. Luna’s ouster after just a year in the role comes less than a […]
NRGBriefs: Venezuela’s VP Delcy Rodríguez on impact of US sanctions
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 22.Mar.2022, Words: 191) — Energy briefs including Venezuela’s Vice President Delcy Rodríguez commenting on the impact of US sanctions on Venezuela during her 2022 presentation of the “Memoria y Cuenta” to the National Assembly; and a recent election poll from Genial/Quaest published on […]
Brazil Congress Cuts Taxes on Fuels to Soften 25% Price Jump
(Bloomberg, 11.Mar.2022) — Brazil’s congress passed a tax reduction for fuels hours after state-controlled oil producer Petroleo Brasileiro SA caused a stir by increasing diesel and gasoline prices by as much as 25%. Lawmakers late on Thursday approved a bill that cuts federal taxes for diesel and cooking gas until […]
How the War in Ukraine Could Empower Maduro
(Foreign Policy, 25.Feb.2022) — The highlights this week: how the war in Ukraine could prolong Venezuela’s political crisis, Colombia decriminalizes abortion, and a Mexican marathoner completes a cross-country journey. When Anti-Imperialism Meets Noninterference In the weeks before Russia began its large-scale invasion of Ukraine this Thursday, two Latin American presidents, Jair Bolsonaro of Brazil and Alberto Fernández of […]
NRGBriefs: PDVSA Debt Stood at $35bn at YE:21
(Energy Analytics Institute, 19.Jan.2022) — Energy briefs including Brazil’s President Jair Bolsonaro visiting w/ his counterparts in Suriname and Guyana to discuss oil and gas matters; and Venezuela’s state oil giant PDVSA revealing its total debt stood at $34.894bn at YE:21. LATIN AMERICA AND THE CARIBBEAN Brazil — Brazil’s President […]
Bolsonaro to Visit Suriname and Guyana for Talks on Oil Cooperation
(Reuters, 17.Jan.2022) — Brazilian President Jair Bolsonaro will visit Suriname and Guyana on Thursday and Friday for talks on economic cooperation following recent discoveries of oil and gas by Brazil’s two neighbors, the foreign ministry said on Monday. Bolsonaro and the presidents of Suriname, Chandrikapersad Santokhi, and Guyana, Irfaan Ali, […]
Bolsonaro: Petrobras Pricing Independent
(Reuters, 6.Nov.2021) — Brazilian President Jair Bolsonaro lamented on Saturday that state-run oil company Petrobras sets domestic fuel prices independent of government interference and repeated his desire to privatize the firm. “We know about inflation, the rise in fuel prices. We know about Petrobras. The company is independent unfortunately, independent. […]
Bolsonaro Says Petrobras Privatization Is ‘On Our Radar’ As Fuel Prices Rise
(Reuters, 25.Oct.2021) — Brazilian President Jair Bolsonaro reiterated that he is considering the privatization of state-run oil company Petrobras, boosting its shares along with news of a fresh price hike in the domestic gasoline and diesel market. “This is on our radar,” the far-right president said during a radio interview. […]
Bolsonaro’s Privatization Talk Masks Petrobras Struggles
(Bloomberg, 20.Oct.2021) — For all President Jair Bolsonaro’s recent talk of privatizing Brazil’s crown jewel, oil giant Petrobras has struggled even to unload a handful of refineries. And its chances have never looked worse. With global fuel demand still reeling from the pandemic and refineries shutting down elsewhere, Brazil is […]
Brazil’s 2022 Presidential Vote: ‘Fascism Or Democracy’
(Euronews, 7.Oct.2021) — Brazil’s 2022 presidential election will be ballot between “fascism and democracy”, former leftist leader Luiz Inacio Lula da Silva told Euronews, as he mulls mounting a challenge against incumbent Jair Bolsonaro. Lula, 75, led the Latin American country between 2003 and 2010, introducing popular social measures that […]
Bolsonaro Says Has Discussed Fuel Prices With Petrobras
(Reuters, 31.Aug.2021) — Brazilian president Jair Bolsonaro said in an event in the state of Minas Gerais that he has discussed the reason for high fuel prices with the CEO of state-controlled oil company Petroleo Brasileiro SA. Bolsonaro said Petrobras debt to acquire refineries abroad is ‘almost paid’ and the […]
Brazil In Talks With Argentina for Gas Pipeline from Vaca Muerta
(Reuters, 19.Aug.2021) — Brazil is negotiating with Argentina on the construction of a billion-dollar pipeline from the Vaca Muerta shale gas reserves, Brazilian President Jair Bolsonaro said on Thursday. Speaking to supporters on social media, he said the gas pipeline from Argentina was one of the options his government is […]
Bolsonaro Authorizes Eletrobras Privatization
(Xinhua, 13.Jul.2021) — Brazilian President Jair Bolsonaro signed into law on Tuesday a bill approved by Congress that paves the way for the privatization of state-owned electric utility company Eletrobras, according to the country’s Official Gazette. Among other measures, the regulatory framework will include the issuance of new Eletrobras shares […]
At Petrobras, A ‘Spartan’ Military Man Takes The Reins
(Reuters, 12.Apr.2021) — For many investors, the appointment of former army general Joaquim Silva e Luna as the new chief executive of Brazil’s state-run oil company Petrobras was unexpected – and unwelcome. President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm […]
Jair Bolsonaro Sparks Political Crisis
(Reuters, 30.Mar.2021) — Brazil will replace the three heads of its armed forces, the Defense Ministry said on Tuesday, as Latin America’s biggest nation, already roiled by the pandemic, faced a growing crisis between President Jair Bolsonaro and the military. The departure of Brazil’s three top military commanders comes a […]
LatAm Briefs: Pemex Costs, Ecuador Output
(Energy Analytics Institute, 18.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Banco do Brasil CEO resigning under pressures from Brazil’s President Jair Bolsonaro, Ecuador’s oil production reaching 506,519 barrels per day (b/d), and Pemex reducing production cost. Banco do Brasil CEO Resigns Under Bolsonaro Pressures Petrobras […]
Moody’s On Govt Intervention At Petrobras
(Reuters, 24.Feb.2021) — Brazilian President Jair Bolsonaro’s decision to replace the head of state-run oil giant Petrobras threatens the government’s privatization program and potentially the economy’s medium-term growth prospects, ratings agency Moody’s warned on Wednesday. “The greatest risk to Brazil’s sovereign credit profile is a confidence shock that leads to […]
Petrobras In Turmoil As Investors Digest Shake-up
(Argus, 22.Feb.2021) — The share price of Brazil’s Petrobras nosedived today after President Jair Bolsonaro moved to overhaul the state-controlled company’s management, heralding a return to state intervention and threatening to derail a $25bn-$35bn divestment plan. The stunning development sent shock waves through the company’s executive ranks and the investment […]
Bolsonaro Says More Changes Underway
(Blooomberg, 19.Feb.2021) — Brazilian President Jair Bolsonaro said that more changes are underway after naming a former general to replace the University of Chicago-educated economist running state-controlled Petroleo Brasileiro SA. The leadership change at Petrobras followed a feud with Bolsonaro over fuel prices after Petrobras adjusted them to align with […]
Petrobras CEO Fights Pressure To Resign
(Reuters, 19.Feb.2021) — The chief executive of Brazil’s state-led oil company Petrobras is trying to fight off President Jair Bolsonaro’s bid to oust him over his insistence on raising gasoline prices in line with international market hikes, two sources with direct knowledge of the matter told Reuters on Friday. The […]
Bolsonaro To Discuss Diesel Price With Petrobras Head
(Reuters, 4.Feb.2021) — Brazilian President Jair Bolsonaro said he will meet on Friday with his Cabinet and the head of state-run oil company Petrobras to discuss diesel prices, a move that is not unprecedented under his administration, but could cause market jitters nonetheless. In a live video broadcast on Facebook […]
Bolsonaro Urges Truckers Not To Strike
(Reuters, 27.Jan.2021) — Brazilian President Jair Bolsonaro on Wednesday urged truckers not to strike on Feb. 1, suggesting he could lower diesel costs with tax breaks as he seeks to head off a crushing blow to the country’s pandemic-stricken economy. Speaking in Brasilia after a meeting with Economy Minister Paulo […]
PPSA Sale Plan Stokes Oil Contract Debate
(Argus, 12.Aug.2020) — The Brazilian government’s plan to sell state-owned pre-salt marketing company PPSA has stalled amid congressional foot-dragging over a change in pre-salt contract terms. Addressing reporters late yesterday, influential economy minister Paulo Guedes confirmed that the delay in selling the firm contributed to the departure of secretary Salim […]
Covid-19 Crisis Could Crush Brazil’s Oil Boom
(Oilprice.com, 20.May.2020) — The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it. “Brazil has the worst COVID growth rate of any G20 country: the pandemic is totally out of control,” Raymond James wrote in a report, explaining its reason for […]
Bolsonaro Ready To Ax Fuel Taxes
(Reuters, 6.Feb.2020) — Brazil’s President Jair Bolsonaro said he is prepared to eliminate federal fuel taxes if state governors eliminate the “ICMS” state tax on gasoline and diesel. ICMS is a tax on sales and services and applies to the movement of goods, transportation, communication services and other supplies. Earlier […]
Brazil To Discuss OPEC With Saudi Arabia In July
(S&P Global Platts, 24.Jan.2020) — Brazil will discuss potential cooperation with OPEC on the sidelines of a Group of 20 event scheduled to be held in Saudi Arabia later this year, the country’s Mines and Energy Ministry said in a statement this week. Mines and Energy Minister Bento Albuquerque will […]
Brazil Looks To Smooth Impact Of Oil Price Spikes
(Reuters, 6.Jan.2020) — Brazil’s government is working on a policy to reduce the local impact of spikes in international oil prices, officials said on Monday, reviving questions about the state oil firm’s independence in setting fuel prices. Mines and Energy Minister Bento Albuquerque told reporters the government will not create […]
Rosneft Head Sechin Attends BRICS Summit In Brazil
(Rosneft, 15.Nov.2019) — During the visit of the President of the Russian Federation Vladimir Putin to the BRICS summit in Brazil, the Chief Executive Officer of PJSC Rosneft Oil Company Igor Sechin as part of the Russian delegation took part in a number of bilateral meetings with the leaders of […]
What A Mammoth Oil Auction Means for Brazil
(Americas Quarterly, Naki Mendoza, 5.Nov.2019) — A pre-salt auction 20 years in the making could have broad repercussions for the economy and Jair Bolsonaro’s government. Since its first pre-salt auction in 2013, Brazil has grown accustomed to blockbuster oil deals. But the upcoming Nov. 6 auction of prime offshore acreage […]
Brazil Targets Greek Tanker For Spill
(Argus, 1.Nov.2019) — Brazil is targeting a Greek-flagged tanker as the source of a catastrophic oil spill that has spread across the northeastern coast. Federal police say the Suezmax Bouboulina docked in Venezuela on 15 July before heading to Singapore with a stop in South Africa. Brazilians authorities have previously […]
Bolsonaro Wants Brazil In OPEC
(AAWSAT, Mosaed al-Zayani, 31.Oct.2019) — Brazil’s President Jair Bolsonaro said Wednesday he was keen for his country to join OPEC, a move that would add the most significant new producer to the oil cartel for years. “I would personally like Brazil to become a member of OPEC,” Bolsonaro said at the Future […]
Bolsonaro Wants Brazil In OPEC
(Reuters, Stephen Kalin, Rania El Gamal, Alex Lawler, 30.Oct.2019) — Brazilian President Jair Bolsonaro said on Wednesday that he wants his country to join OPEC, a move that would add the most significant new producer to the oil cartel for years. The comments come ahead of a massive auction of […]
Brazil Collects 900 Tonnes Of Spilled Oil
(Kallanish, 23.Oct.2019) — Brazil has collected some 900 tonnes of oil residue from its northeastern beaches since early September, the government said in a joint note Monday. According to the Brazilian Navy, environmental agency Ibama and oil regulator ANP, the mammoth clean up continues across the Brazilian northeast coast. Over […]
Bolsonaro Says Oil Spill Could Be Sabotage
(Reuters, 18.Oct.2019) — Brazilian President Jair Bolsonaro questioned on Friday whether a far-reaching oil spill on the nation’s northeastern shore may have been a criminal act designed to harm a major oil auction scheduled for November. “Coincidence or not, we have the transfer-of-rights auction,” said Bolsonaro in a Facebook Live […]
Bolivia Crippled As Leftist Leader Faces Vote
(Bloomberg, Peter Millard, 14.Oct.2019) — For two years, Bolivia pushed to boost natural gas production, a longtime key to its prosperity, by drilling for new discoveries on its southeastern lowlands. The result: An 8 kilometer (5 mile) deep dry hole. There’s arguably no more apt symbol for the situation facing […]
Venezuelan Oil Likely Spilled In Brazil: Report
(The Wall Street Journal, Luciana Magalhaes and Jeffrey T. Lewis, 9.Oct.2019) — Long stretches of Brazil’s northeastern coast have been stained by oil slicks since early September, and at least some of the crude probably came from Venezuelan fields, a report by Brazilian oil company Petróleo Brasileiro SA said, according […]
Brazil Oil Spill ‘Criminally Deposited’: Bolsonaro
(DW.com, 8.Oct.2019) — President Jair Bolsonaro has suggested a criminal element to the mystery oil slicks polluting Brazil’s northeast coast. About 100 oil spills have been detected along the nation’s beaches since early September. Brazilian President Jair Bolsonaro on Tuesday said vast quantities of oil spilled along the country’s beaches […]
Petrobras Maintains Prices
(Reuters, Gram Slattery and Marta Nogueira, 16.Sep.2019) — – Brazilian President Jair Bolsonaro and Petrobras said on Monday the oil firm was not planning to immediately raise fuel prices in response to the attack in Saudi Arabia, showing the state-run firm may be open to overlooking market pricing norms for […]
Petrobras Clarifies News In ‘Folha de São Paulo’
(Petrobras, 26.Aug.2019) — Petrobras reports that it received the Official Letter No. 269/2019/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No 269/2019/CVM/SEP/GEA-1 “Dear Executive Officer, 1. We refer to the news published today, in the newspaper ‘Folha de São Paulo’, ‘Poder’ section, under the title: “‘Press commits suicide and is […]
Bolsonaro Wants To Privatize Petrobras
(Reuters, 21.Aug.2019) — 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 […]
Bolsonaro Said Wanting To Privatize Petrobras: Rpt
(Reuters, 21.Aug.2019 ) — 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 […]
Brazil Cities Paralysed As Bolsonaro Faces Strike
(AFP, 14.Jun.2019) — A nationwide strike called by Brazil’s trade unions disrupted public transport and triggered road blocks in parts of the country Friday, ahead of protests against far-right President Jair Bolsonaro’s pension reform. Hours before the opening match of the Copa America in Sao Paulo, some metro lines in […]