Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Petróleo Brasileiro S.A. - Petrobras    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Petróleo Brasileiro S A Petrobras : Bolsonaro's nominee to run Petrobras stresses need for "balance" in fuel pricing

02/20/2021 | 03:37pm EST
FILE PHOTO: A logo of Brazil's state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro

RIO DE JANEIRO (Reuters) - Brazilian President Jair Bolsonaro's nominee to lead state-run oil company Petrobras said on Saturday the company needs to find "balance" in fuel pricing, considering the impact on shareholders, investors, sellers and consumers.

Joaquim Silva e Luna, a retired army general and former defense minister overseeing the state-run Itaipu hydroelectric dam on the border with Paraguay and Argentina since 2019, was tapped on Friday to be the next chief executive of Petróleo Brasileiro SA.

Bolsonaro has criticized Roberto Castello Branco, current CEO of the state firm known formally as Petroleo Brasileiro SA, for ignoring the complaints of truckers as he hiked diesel prices 15% this week, tracking global markets higher.

Petrobras shares plunged on Friday due to growing investor fears of political interference in fuel pricing, which has triggered billions of dollars in losses over the past decade.

Luna was cautious in some of his first public comments since Bolsonaro made the announcement in a late Friday social media post, seeking to allay concerns that the company would lose autonomy to set prices in Brazil, where it dominates the market.

"There is no way to have interference in the pricing policy. There's executive management ... and we have the capacity to handle the issue. We'll reflect on the economy as well as on the trucker who has no cargo to transport," he told Reuters in an interview."We need to find a balance, considering the shareholder, the market, oil prices, the currency, as well as the people, because gasoline and diesel prices have an impact on the whole chain of production. We cannot ignore this reality," he said.

Reflecting on his background in the military and government service, Luna said he would be "a manager and not a general" at Petrobras. "My profile is to deliver results," he added.

Current CEO Castello Branco's term ends March 20. Cheered by investors for his efforts to sell underperforming assets and cut debt, the University of Chicago-trained economist would be the second Petrobras head in three years to leave over disagreements in fuel pricing. In 2018, then-CEO Pedro Parente resigned when the government forced fuel prices lower in a concession to striking truckers.

Parente had vowed to set domestic prices in line with global markets, breaking with a policy that made Petrobras sell fuel below international parity, triggering some $40 billion in losses from 2011 to 2014.

(Reporting by Rodrigo Viga Gaier; Writing by Tatiana Bautzer; Editing by Brad Haynes and Richard Chang)

By Rodrigo Viga Gaier


© Reuters 2021
All news about PETRÓLEO BRASILEIRO S.A. - PETROBRAS
10:40aCHEVRON  : Reports Restart at Pasadena, Texas, Refinery
DJ
06:51aPETRÓLEO BRASILEIRO S A PETROBRAS  : Brazil's Petrobras receives six board nomin..
RE
03/05PETRÓLEO BRASILEIRO S A PETROBRAS  : Management Report 2020
PU
03/04CERAWEEK-ROCK AND HEAVY METAL : winners emerge in energy transition
RE
03/04PETROBRAS  : about piece of news published in the press
AQ
03/03SECTOR UPDATE : Energy Stocks, Crude Oil Post Large Wednesday Gains
MT
03/03SECTOR UPDATE : Energy Stocks Rising Amid New Surge in Crude Oil Prices
MT
03/03Petrobras Shares Decline After 4 Board Members Say They're Leaving
DJ
03/03PETROBRAS  : on non-reappointment of Board Members
AQ
03/03PETRÓLEO BRASILEIRO S A PETROBRAS  : Petrobras Says Four Board Members Do Not In..
MT
More news
Financials
Sales 2021 364 B 63 573 M 63 573 M
Net income 2021 43 911 M 7 659 M 7 659 M
Net Debt 2021 299 B 52 089 M 52 089 M
P/E ratio 2021 8,79x
Yield 2021 3,46%
Capitalization 290 B 50 667 M 50 511 M
EV / Sales 2021 1,61x
EV / Sales 2022 1,40x
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
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 28,83 BRL
Last Close Price 22,39 BRL
Spread / Highest target 66,6%
Spread / Average Target 28,8%
Spread / Lowest Target 7,19%
EPS Revisions
Managers and Directors
NameTitle
Roberto da Cunha Castello Branco President, Chief Executive Officer & Director
Andrea Marques De Almeida Chief Financial & Investor Relations 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-21.00%50 771
SAUDI ARABIAN OIL COMPANY2.29%1 907 502
ROYAL DUTCH SHELL PLC24.07%163 968
TOTAL SE16.08%128 173
PETROCHINA COMPANY LIMITED22.08%118 145
GAZPROM5.95%71 531