The Business Times
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Petrobras

Energy & Commodities

Brazilian president dismisses Petrobras chief; US-listed shares tumble

According to a company source, two other board members could also be removed over conflicts of interest or for not meeting the necessary requirements for their roles.
Energy & Commodities

Brazil judge suspends Petrobras chair over conflict of interest

The remarks come after days of speculation over CEO Jean Paul Prates’ future, with some saying the embattled CEO would not survive “to the end of the week.”
Companies & Markets

Decision on Petrobras CEO job is up to Brazil's president, says energy minister

Trafigura Beheer BV, the parent company of Trafigura Group during the relevant period, has agreed to pay a criminal fine of US$80.5 million and forfeit another US$46.5 million after pleading guilty to a conspiracy to violate the Foreign Corrupt Practices Act.
Energy & Commodities

Trafigura pleads guilty, agrees to pay about US$127 million to settle US probe

Petrobras has a duty to expand its role in Brazil and become an energy company, its CEO says.
Companies & Markets

Brazil's Petrobras plans to 'revitalise' company with US$102 billion investment

The state oil giant is under mounting pressure to tame energy prices as President Luiz Inacio Lula da Silva tries to steer the economy in a more populist direction.
Companies & Markets

Petrobras expects to fall short of government gas-price target

The new appetite for mergers and acquisitions does not mean the company will go on an issuance spree to finance acquisitions or boost investments, according to Petrobras' chief financial officer.
Companies & Markets

Petrobras switches from asset seller to buyer as debt slumps

Minister Indranee Rajah says the AGC has to be “quite careful” in discharging its responsibility and making public statements with respect to its decisions because “further down along the line, further action may have to be taken”.
Companies & Markets

Stern warnings to Keppel O&M ex-staff signal they are not completely off the hook: Parliament

Petrobras will shield consumers from sharp fuel-price swings and increase investments in refining projects to curb fuel imports. Investors are not happy with this tack that the company is taking.
Companies & Markets

Petrobras investors tank shares as Lula makes populist strategy shift

Overall, the number of board seats held by the state is unchanged, and the balance of power between the government and market shareholders in Petrobras was not modified.
Energy & Commodities

Shareholders in Brazil's Petrobras approve long-awaited board swap

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