Petrobras returns to the level of R$ 500 bi- Capitalist

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After 16 trading sessions, Petrobras (PETR3; PETR4) saw its shares register a consistent increase, taking the state-owned company back to the level of R$500 billion in market value. This good performance is driven by the appreciation of oil, which reached its highest value since October 2023, with investors closely monitoring the possibility of supply cuts by OPEC+ announced for tomorrow. Furthermore, geopolitical conflicts also exert upward pressure on commodity prices.

Yesterday, President Luiz Inácio Lula da Silva (PT) expressed criticism of the sale of Petrobras assets during the government of Jair Bolsonaro (PL). He argued that the state-owned company’s production sector was compromised due to an “attempted dismantling”, the result of the sale of gas pipelines and BR, a company that was divested between 2017 and 2021.

“Petrobras is the most prepared company on planet Earth for prospecting for oil in deep waters. And that’s why we’re trying to recover Petrobras, because they didn’t have the courage to privatize it, as this would need to go through the National Congress. They started selling Petrobras assets, such as gas pipelines, BR and gas companies. The objective was to try to dismantle Petrobras’ entire production system,” stated Lula.

Petrobras

During the announcement of the dredging works at the Port of Niterói, in the metropolitan region of Rio de Janeiro, Lula also expressed the government’s desire to recover the shipping industry and attract new investments to the state of Rio de Janeiro, aiming to mitigate the consequences of the violence.

“We have an obligation to help Rio de Janeiro, a very important state for Brazil. Rio de Janeiro cannot appear in the newspapers only on the police pages. It is important to appear with culture, employment, the naval industry, oil, fishing industry and with many people living off their work”, highlighted the former president, adding that the objective is to weaken the militias and organized crime.

The article is in Portuguese

Tags: Petrobras returns level Capitalist

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