Brazil's state-controlled oil giant Petrobras reported a 38% drop in first-quarter profit, which was worse than expected and hurt by less profitable fuel sales. The company has also announced a reduction in shareholder payouts, approving dividends of 1.04 reais per share, which is lower than the previous quarter and below estimates. Additionally, Brazilian President Luiz Inacio Lula da Silva has fired the CEO of Petrobras after months of speculation and a dispute over dividends. This move has led to an 8% plunge in Petrobras shares and raised concerns about increased government interference. Trading of Petrobras shares was halted on the NYSE. The new CEO, an oil-industry veteran with close ties to Lula, has been appointed.
Head of Brazilian oil and gas giant Petrobras steps down following dustup over dividends https://t.co/kJm2hNnPz5
The new chief executive officer of Petrobras is an oil-industry veteran with tight ties to Brazilian President Lula https://t.co/BNScqKvcVk
Maybe Lula will appoint himself CEO?
Trading Halted for $PBR Petroleo Brasileiro S.A.- Petrobras Common Stock | at 11:35:18 ET on NYSE | Halt - News Pending | 2024-05-15 https://t.co/T3dAJqBvLj #tradinghalt
PETROBRAS TRADING HALTED DUE TO IMMINENT RELEASE OF RELEVANT FACT.
Brazilian assets slid after the sudden dismissal of the top executive of state-owned Petrobras sparked fresh concerns over government interference https://t.co/7SdNLw1ruI
Shares in #Brazil's Petrobras plunge 8% on ouster of CEO #oott https://t.co/ASofAEiCFO
Petrobras shares plunge as Brazil's Lula swaps CEO https://t.co/uk0eFAL4ag https://t.co/vd3iPvjFb6
⚠️ SHARES IN BRAZIL'S PETROBRAS PLUNGE 8% ON OUSTER OF CEO Full Story → https://t.co/pMHelueasT
$PBR (-7.3% pre) Petrobras CEO Prates ousted by Lula after dividend dispute - SA https://t.co/i4I4ll8gZI
$PBR $PBR.A Brazil pushes out Petrobras CEO, names ex-regulator to top job- Reuters https://t.co/xakUCIUglB
The government of Brazilian President Luiz Inacio Lula da Silva has announced that the CEO of state oil company #Petrobras has been sacked. #Brazil https://t.co/ziF06BmOLF
#Brazil pushes out Petrobras CEO, names ex-regulator to top job #oott https://t.co/ExbZAT2Chn
#Brazil’s Lula government ousts Petrobras chief after dispute over dividends #oott https://t.co/Pti39dncOB
Brazil’s Lula government fires Petrobras chief after dispute over dividends https://t.co/occJ34Bkm2
Chief of state oil company dismissed in Brazil https://t.co/PRJryCEkF4
The chief executive of Brazilian state-run oil company Petrobras offered to step down, the company said, sending shares sliding as investors braced for the possibility of more political interference at the firm. More here: https://t.co/spEhdJbMsd
The chief executive of Brazilian state-run oil company Petrobras offered to step down, the company said, sending shares sliding as investors braced for the possibility of more political interference at the firm https://t.co/pgXTHbeA9w
Petrobras CEO offers resignation, U.S.-listed shares tumble https://t.co/Swm8Ql1c0t https://t.co/hH3Jd3f5Jv
Brazilian President Lula has fired the head of state-owned energy company Petrobras after months of speculation the relationship had soured https://t.co/mUHtv6S6oQ
One of the few things that unites Lula & Bolsonaro is their fights with Petrobras — usually around fuel prices, dividends & investments While politics is inherent, having 8 CEOs in 8 years doesn't do any good to the company & to Brazil my recent column: https://t.co/ZwXEB1d8pv https://t.co/Bd8cJF2X4u
Petrobras CEO fired by Lula, according to @malugaspar @JornalOGlobo $PBR CEOs under Bolsonaro (2019-2022): 4 $PBR CEOs under Lula #3 (2023-2024): 2 https://t.co/cYsARF02uX
Breaking news mere minutes later: Lula just fired the head of Petrobras https://t.co/JVn5OnPqBO https://t.co/gUENPdKBSb
Breaking news minutes later: Lula just fired the head of Petrobras https://t.co/gy127YsM5o https://t.co/gUENPdKBSb
#Brazil: Shares of Brazil's state-run oil firm Petrobras fell around 2% on Tuesday after it posted worse-than-expected results for the first quarter, hurt by less profitable fuel sales. #oott https://t.co/mHR0vuMMtw
$PBR (-2.2% pre) Brazil's Petrobras reports worse-than-expected 38% drop in first quarter profit - Reuters https://t.co/fKEkNiLQqT
Brazil’s state-controlled oil giant Petrobras curbed politically charged shareholder payouts after reporting lower profits https://t.co/RYQQhL9MGt
#Brazil: Petrobras Curbs Politically Fraught Dividend Payments State-run company approves 1.04 reais a share in dividends Payout is less than last quarter and lower than estimates #oott https://t.co/xMzdpsTN55
#Brazil's Petrobras reports worse-than-expected 38% drop in first quarter profit #oott https://t.co/uitPmcHS5i
Brazil's Petrobras reports 38% drop in first-quarter profit https://t.co/Ku7vj9HNiW https://t.co/S1STJzyh4t
Brazil’s state-controlled oil giant Petrobras is curbing shareholder payouts after a political blowup over its dividends https://t.co/GrUE2KhjqD