(Bloomberg) Brazil analysts raised their 2023 inflation forecasts after state-controlled oil company Petroleo Brasileiro SA hiked domestic fuel prices, hurting chances that price-growth will slow to this year’s target range.Most Read from BloombergBorrowers With $39 Billion in Student Loans Finally See ReliefBond Bulls at JPMorgan, Allianz Double Down on a Bet Gone BadCargill Tests 123-Foot-Tall Sails in Effort to Slash Fuel BurnPutin Turns to Ruble and Ballot to Shore Up Shaken AuthorityCons
(Bloomberg) President Luiz Inacio Lula da Silva’s government is moving toward allowing Brazil’s state-run oil company to survey an ecologically sensitive offshore region, a decision that threatens to overshadow a major environmental summit and feed a festering dispute in his administration.Most Read from BloombergEveryone Wants to Work at UPS After Teamsters DealFirst American City to Tame Inflation Owes Its Success to Affordable HousingTycoon Who Gave Away $750 Million Sees Profit in Loans t
(Bloomberg) Petroleo Brasileiro SA slashed politically contentious dividends after profits declined and the Brazilian oil major set a more conservative policy for shareholder payouts. Most Read from BloombergTrump Cites Self Incrimination Concern in Lawsuit Against CohenElon Musk Says Treasury Bills Are ‘No-Brainer’Apple Faces Longest Sales Drop in Decades as iPhone SlumpsQQQ Churns in Late Hours on Apple, Amazon Earnings: Markets WrapApple Surprises in China, Sets India High During Sales Slu
SAO PAULO, June 1 (Reuters) - Brazilian state-run oil company Petrobras on Thursday said its board of directors had approved a revision of part of its 2023-2028 strategic plan in a bid to increase investments in low-carbon initiatives.
The head of Brazil's state-run oil company has stepped down following mounting political pressure over a fuel price hike. Brazilian President Jair Bolsonaro had called the move a betrayal of the Brazilian people.