In 2023, Brazil’s aviation industry faced challenges integrating budget airlines into its domestic market, a trend also observed across Latin America. The Brazilian government aimed to reduce air travel costs but encountered obstacles due to the country’s high operational expenses, especially labor and legal costs. The National Civil Aviation Agency (ANAC) highlighted the necessity for […]
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Market Reacts to Petrobras’s Dividend Caution
Petrobras’s shares fell sharply on Wednesday, with a 3.8% dip in preferred shares. CEO Jean Paul Prates indicated a shift towards a cautious dividend strategy amidst renewable energy goals during a Bloomberg interview. Preferred shares fell to R$40.45 and common shares to R$41.88, ranking them among the Ibovespa’s biggest declines. The market’s anticipation of high […]
Petrobras Set to Probe Equatorial Basin
Brazil’s Petrobras has secured approval from Ibama, the national environmental agency, for offshore oil exploration in the Equatorial Margin. Specifically, they can now survey the Potiguar Basin in the country’s northeast. Alexandre Silveira, Minister of Mines and Energy, announced this after long talks with Ibama. Next month, Petrobras will start drilling. This follows the arrival […]