Connect with us

International

Petrobras shares fall after Bolsonaro fires its boss

AFP

The price of shares in Brazil’s state oil giant Petrobras fell Tuesday in reaction to President Jair Bolsonaro firing its boss after only 40 days on the job.

Bolsonaro dismissed Petrobras CEO Jose Mauro Coelho on Monday in a tug-of-war over rising fuel prices, which are set by Petrobras but tied to international market movement.

Petrobras shares lost more than four percent in afternoon trade on the Sao Paulo Stock Exchange, before recovering somewhat to 2.85 percent lower than Monday’s worth.

The movement reflects investor concerns of a possible intervention by the State, the main shareholder in Petrobras, in its autonomous pricing decisions.

Advertisement
20250407_mh_renta_728x90
20250301_vacunacion_vph-728x90
20231124_etesal_728x90_1
20230601_agenda_primera_infancia_728X90
domfuturo_netview-728x90
20240604_dom_728x90
CEL
previous arrow
next arrow

Coelho took over last month for what should have been a one-year term. He became the company’s third CEO in just over a year after Bolsonaro also fired his predecessors. 

Fuel prices in Brazil have risen more than 33 percent in the past year, according to official figures, driving annual inflation of more than 12 percent and hurting Brazilians’ wallets in an election year.

The far-right Bolsonaro trails leftist ex-president Luiz Inacio Lula da Silva in opinion polls ahead of elections in October.

Brazil’s Ministry of Mines and Energy announced Coelho’s dismissal, saying the country was “experiencing a challenging moment, due to the effects of the extreme volatility of hydrocarbons in international markets.”

The government has proposed for Coelho to be replaced by Caio Mario Paes de Andrade, an official in the Economy Ministry.

Advertisement
20250407_mh_renta_728x90
20250301_vacunacion_vph-728x90
20231124_etesal_728x90_1
20230601_agenda_primera_infancia_728X90
domfuturo_netview-728x90
20240604_dom_728x90
CEL
previous arrow
next arrow

He must be confirmed by the company’s board of directors.

Earlier this month, Bolsonaro also replaced his longtime energy minister, Bento Albuquerque, days after Petrobras reported record quarterly profits.

Bolsonaro said those profits amounted to “rape,” and called on Albuquerque and Coelho to stop Petrobras from raising prices.

Petrobras went on to hike diesel prices by an additional 8.9 percent.

Advertisement
20250407_mh_renta_728x90
20250301_vacunacion_vph-728x90
20231124_etesal_728x90_1
20230601_agenda_primera_infancia_728X90
domfuturo_netview-728x90
20240604_dom_728x90
CEL
previous arrow
next arrow
Continue Reading
Advertisement
20250407_mh_renta_300x250
20250301_vacunacion_vph-300x250
20231124_etesal_300x250_1
20230601_agenda_primera_infancia_300X250
MARN1

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.

Continue Reading

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.

Advertisement

20250407_mh_renta_728x90
20250301_vacunacion_vph-728x90
20231124_etesal_728x90_1
20230601_agenda_primera_infancia_728X90
domfuturo_netview-728x90
20240604_dom_728x90
CEL

previous arrow
next arrow

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.

Continue Reading

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.

Continue Reading

Trending

Central News