Petrobras (PBR) issues statement on letter from the Ministry of Mines and Energy
- S&P 500, Nasdaq fall as tech shares give up gains
- AI boom could continue to drive S&P 500 higher - Goldman
- Deutsche Bank, Wells Fargo expect US recession to start in Q4 2023
- Cathie Wood buys the dip in Coinbase shares amid SEC crackdown
- United Natural Foods (UNFI) cuts its forecast after FQ3 earnings miss; Shares crash 25%
Get Alerts PBR Hot Sheet
Overall Analyst Rating:
NEUTRAL ( Up)
EPS Growth %: -37.1%
Join SI Premium – FREE
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Petrobras (NYSE: PBR) informs that its Board of Directors has considered, on today's date, the content of Official Letter 166/2023/GM-MME, of 02/28/2023, and of Official Letter 257/2023/GM-MME, of 03/29/2023, and considering its attributions, concluded that the review of the investment and divestment processes must be carried out based on the Company's "Strategic Plan", prepared by the Executive Board and approved by this Board, pursuant to Petrobras' Bylaws.
Therefore, in view of the Ministry of Mines and Energy's request and the election of the new Executive Board on 03/29/2023, the Board of Directors will study the matter, in case the new management, which has just taken office, decides to propose the revision of the "Strategic Plan".
It is worth noting that this revision should not include divestments already in the phase of signing and closing contracts in order to fully comply with the rights and obligations already assumed by the Company, with schedules and dates already set to occur throughout the four quarters of 2023, and thus not cause any damage to the parties involved in the negotiations, especially Petrobras.
Material facts will be timely disclosed to the market.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Upgrades Petrobras (PBR) to Overweight; sees 51% potential total return w/dividend
- ViaSat (VSAT) Selected by Air Force Research Laboratory to Deliver Space Relay Communications for Multi-Orbit Mission
- Stellantis (STLA) launches second round of share buybacks
Create E-mail Alert Related CategoriesCorporate News, Trading Halts
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!