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    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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Brazil's Petrobras lowers fuel prices even as oil rises internationally

04/30/2021 | 12:04pm EDT

RIO DE JANEIRO, April 30 (Reuters) - Brazil's Petrobras will reduce diesel and gasoline prices at refineries by about 2% on Saturday, the state-run oil company said on Friday, the first fuel price adjustment since Chief Executive Joaquim Silva e Luna formally took charge.

The former army general replaced Roberto Castello Branco as the company's top executive earlier in April after the government apparently disagreed with the company's fuel pricing policy.

The cut came even as some experts pointed to evidence of further price pressures from increasing international oil prices.

In a note on Friday, brokerage Ativa Investimentos said its model indicated a potential 13% rise in gasoline prices.

But Petrobras said average diesel prices would fall 6 cents per liter to 2.71 reais, while gasoline prices would fall 5 cents per liter to 2.59 reais.

After landing the top job at Petrobras, Luna said he would look to avoid volatility in the domestic fuel market while not "disrespecting" international price parity.

Asked about Ativa's projection on Friday, Petrobras declined specific comment but said its prices "seek equilibrium with the international market and follow the variations in to price of the products and the exchange rate."

The Brazilian real has jumped about 4% versus the U.S. dollar over the past month.

(Reporting by Marta Nogueira in Rio de Janeiro Writing by Ana Mano and Gram Slattery Editing by Louise Heavens and Matthew Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / BRAZILIAN REAL (CAD/BRL) 0.00% 4.0805 Delayed Quote.-0.25%
EURO / BRAZILIAN REAL (EUR/BRL) 0.83% 6.0361 Delayed Quote.-5.65%
LONDON BRENT OIL 0.44% 73.22 Delayed Quote.41.20%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 0.68% 28.32 End-of-day quote.-0.07%
US DOLLAR / BRAZILIAN REAL (USD/BRL) 0.54% 5.0887 Delayed Quote.-3.23%
WTI 0.78% 71.41 Delayed Quote.47.13%
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Financials
Sales 2021 370 B 72 633 M 72 633 M
Net income 2021 62 862 M 12 353 M 12 353 M
Net Debt 2021 269 B 52 891 M 52 891 M
P/E ratio 2021 5,73x
Yield 2021 4,70%
Capitalization 373 B 73 789 M 73 209 M
EV / Sales 2021 1,74x
EV / Sales 2022 1,52x
Nbr of Employees 49 050
Free-Float 64,3%
Chart PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Duration : Period :
Petróleo Brasileiro S.A. - Petrobras Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 32,17 BRL
Last Close Price 28,32 BRL
Spread / Highest target 34,2%
Spread / Average Target 13,6%
Spread / Lowest Target -14,2%
EPS Revisions
Managers and Directors
NameTitle
Joaquim Silva e Luna Chief Executive Officer & Director
Rodrigo Araujo Alves Chief Financial Officer
Eduardo Bacellar Leal Ferreira Chairman
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
1st jan.Capitalization (M$)
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-0.07%73 789
SAUDI ARABIAN OIL COMPANY0.71%1 878 898
ROYAL DUTCH SHELL PLC14.07%150 030
PETROCHINA COMPANY LIMITED49.17%138 954
TOTALENERGIES SE12.00%123 253
GAZPROM28.59%88 167