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Petrobras reports profit increase despite Bolsonaro criticism

AFP

Brazilian state oil giant Petrobras on Thursday reported a first-quarter net profit of 44.6 billion reais ($8.6 billion), amid sharp criticism from President Jair Bolsonaro over rising fuel prices. 

The result was 38 times more than the 2021 first quarter, when the company reported 1.2 billion reais ($180 million). 

It was also a 41 percent increase over the 31.5 billion reais ($5.6 billion) profit from the previous quarter.

The company reported a nearly $10 billion payout to shareholders.

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Just before the results were released, Bolsonaro was back to berating the company.

“Your profits are a violation. Fuel prices cannot go up anymore,” the president said during his regular live Thursday address. 

The oil giant has long been a target for Bolsonaro, who in March sacked its president, Joaquim Silva e Luna — an army reserve general whom Bolsonaro had himself appointed a year ago — over differences in fuel pricing policies. 

The new president of the company, Jose Mauro Coelho, who is backed by Bolsonaro, said in a statement the strong results were thanks to a “healthy Petrobras, which reduced its debt payment charges, invests in a responsible manner and operates with efficiency.”

The company issued an 18.8 percent increase in the price of gasoline and a nearly 25 percent increase in diesel prices in early March due to rising costs caused by the war between Russia and Ukraine. 

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The average price of a barrel of Brent oil in the first quarter of 2022 was $101, Petrobras said. 

The company’s price increases have helped contribute to inflation, which threatens far-right Bolsonaro’s chances in his October reelection bid. 

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International

Two fans killed in gate collapse outside Chile’s Estadio Monumental

Two people lost their lives near the Estadio Monumental in Santiago, Chile, following a chaotic incident that occurred before the Copa Libertadores match between Colo Colo and Brazil’s Fortaleza on April 10. According to the Public Prosecutor’s Office, the victims were crushed after a fence on the stadium perimeter collapsed, though authorities are investigating whether a police armored vehicle may have played a role.

It was a black Thursday at Chile’s Estadio Monumental. Two local fans died outside the stadium after a yet-unclarified incident caused a metal gate to fall on them, leading to fatal asphyxiation.

Local media reports indicate that a group of fans attempted to force their way into the stadium before kickoff. In response, local police allegedly deployed armored vehicles to block the breach.

Preliminary reports cited by local newspapers and news agencies like EFE identify the victims as two young individuals—one 18 years old and the other just 13.

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International

Dominican Republic mourns over 200 dead in Jet Set nightclub collapse

On Thursday, April 10, 2025, the Dominican Republic began mourning the more than 200 victims of the collapse of Jet Set nightclub in Santo Domingo, although many families are still desperately waiting for the remains of their loved ones.

The roof of the Jet Set club collapsed in the early hours of Tuesday, April 8, during a live performance by iconic merengue singer Rubby Pérez.

Rescue workers were completing the recovery of human remains from beneath the rubble of corrugated metal and steel beams, as search efforts ended with no further hope of finding survivors.

Around the morgue, the atmosphere was one of grief, anguish, and despair. A list of the deceased was posted on a canvas covering a nearby tent, where crowds gathered in distress. Health Minister Víctor Atallah stated that forensic teams are working at full capacity and urged patience. “No one will go unidentified, and no one will be left without answers,” he promised. “We will turn over every last stone if we have to.”

The tragic collapse also claimed the lives of several foreigners, including a significant number of Venezuelan nationals who were present at the club, according to local newspaper Listín Diario. The outlet reported the official death toll at 221, which included one Haitian, two French nationals, one Italian, and one Kenyan.

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Meanwhile, relatives, friends, and fans of Rubby Pérez released white balloons outside the National Theater shortly before the hearse departed with the remains of the beloved singer, known for hits like “Enamorado de ella” and “Buscando tus besos.” Draped over his coffin were both the Dominican and Venezuelan flags, the latter symbolizing the country where his fame took off.

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International

Venezuelan oil shipments resume after tariff-induced delays

Many buyers of Venezuelan oil have resumed loading tankers after a week of pauses and delays at the country’s ports, caused by tariffs imposed by President Donald Trump on importers of crude from the OPEC member nation, according to shipping data and documents.

In March, the United States gave Chevron and other foreign partners and clients of Venezuela’s state oil company, PDVSA, until May 27 to gradually wind down operations and cease crude exports from the country. Days later, Washington imposed tariffs on buyers of Venezuelan oil and gas.

The measures triggered the suspension of some shipments at the country’s main oil port, Jose, and caused delays at smaller terminals. Many vessels that had left the Jose port and moved away from the coast amid the announcement of the measures have since returned to complete their loadings. In recent days, tankers have begun departing Venezuelan waters en route to destinations such as India and China, according to data and internal documents from PDVSA.

“There was a moment of panic when ships pulled away, but they later received instructions to finish loading,” said a source at PDVSA.

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