Petroleo Brasileiro SA ADR Stock News

Brazilian state-run oil firm Petrobras said on Thursday that its board of directors had approved Bruno Moretti as the firm's new chairman.

Bruno Moretti is the leading candidate to become chairman of Brazil's state-run oil company Petrobras after Pietro Mendes resigned from the role, a source familiar with the matter told Reuters on Friday.

State-run oil firm Petrobras is worried about an upcoming change in Brazil's reference oil price that determines some taxes and royalties drillers pay, as it could weaken the economic viability of projects in offshore post-salt fields and in its onshore business, CEO Magda Chambriard said on Monday.

Brazil's Petrobras cannot afford to miss out on the opportunity to sell liquefied petroleum gas (LPG), or cooking gas, as it is a high-margin business, CEO Magda Chambriard said on Monday.

Shares in Raizen jumped more than 10% on Monday following a weekend report from Brazilian newspaper O Globo, which said Petrobras is exploring investment opportunities in the sugar and ethanol producer.

Brazilian state-run oil firm Petrobras is looking to increase production at three floating offshore production platforms (FPSO) it operates in the country, the head of Exploration and Production, Sylvia dos Anjos, said on Monday.

Brazilian state-run oil company Petrobras is considering an investment in sugar and ethanol producer Raizen as a way to re-enter the ethanol market, local newspaper O Globo reported on Saturday, citing sources.

Brazilian environmental agency Ibama and state-run oil company Petrobras have scheduled a disaster simulation in the country's Foz do Amazonas region for the week of August 24, Ibama said on Wednesday.