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☆ Brazil set to join the influential OPEC+ oil producers' alliance
▼ + stars: | 2023-11-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira. The announcement was made during a postponed OPEC+ meeting to discuss oil output strategy over 2024, amid languishing prices weighed by fragile demand recovery in China, geopolitical risks and uncertainty over supplies from U.S.-sanctioned OPEC members Iran and Venezuela. In footage shared from the meeting, Silveira said that President Lula da Silva had approved his country's membership, starting next year. "I would like to conclude my words by informing you that the honorable President Lula confirmed our entry into the OPEC+ cooperation charter from January 2024," he said. "Brazil received an invitation to join OPEC+.

Persons: Luiz Inacio Lula da Silva, Alexandre Silveira, Silveira, Lula da Silva, Lula Organizations: Brazilian Energy, OPEC, Mines and Energy, United Arab Locations: Brazil, OPEC, China, U.S, Iran, Venezuela, Saudi Arabia, Russia, United Arab Emirates, Brasilia, Correction

☆ Carrefour Brasil bets on know-how to expand small stores operation
▼ + stars: | 2023-06-29 | by ( Carolina Pulice | ) www.reuters.com time to read: +2 min

MEXICO CITY (Reuters) - Grupo Carrefour Brasil launched a franchise model of convenience stores in the Brazilian market on Wednesday, aiming to tap into its know-how from years of experience in Europe, a top executive said. FILE PHOTO: A general view of a Carrefour supermarket in Sao Paulo, Brazil July 18, 2017. REUTERS/Paulo WhitakerCarrefour Brasil’s convenience executive director Joao Edson Gravata said that the franchise format would put Carrefour in a stronger position to take on competitors. Those stores would supplement its 152 existing Brazilian company-owned Carrefour Express format stores. About a year ago Grupo Nos, a venture between Brazilian energy firm Raizen and Mexican retailer Femsa, launched its first Oxxo-branded convenience stores.

Persons: Paulo Whitaker, Joao Edson Gravata, Gravata, “, ”, Pedro Melo, Alberto Serrentino, Melo, Pao Organizations: MEXICO CITY, Grupo Carrefour Brasil, Carrefour, REUTERS, Paulo Whitaker Carrefour, Carrefour Express, Pontifical Catholic University, Sao Paulo, PUC, Grupo Ultra’s, Grupo, Dia, Hirota Locations: MEXICO, Europe, Sao Paulo, Brazil, Brazil’s

☆ Buy this Brazilian oil stock on the strength of its dividend potential, Morgan Stanley says
▼ + stars: | 2023-06-07 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to buy Petrobras on the strength of its dividend potential, Morgan Stanley said Wednesday. "PBR has been a strong performer YTD, but we see further room for capital appreciation," Montanari wrote. "And the potential total return — 51% after a ~16% dividend yield — looks compelling enough to us to justify a more positive stance on the stock in 2023." "Our new estimates, using lower oil prices form the current forward curve, have PBR still generating [free cash flow] of $23B in 2023, a 30% yield," Montanari wrote. During Wednesday premarket trading, Petrobras shares gained 1.9%.

Persons: Morgan Stanley, Bruno Montanari, YTD, Montanari, outpacing Brent, — CNBC's Michael Bloom Organizations: Petrobras, Montanari Locations: U.S

☆ Brazil's Energisa wins Espirito Santo gas firm at privatization auction
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, March 31 (Reuters) - Brazilian energy company Energisa Transmissao de Energia SA (ENGI11.SA) won ownership of natural gas firm ESGas at a privatization auction on Friday, buying stakes from the state government and Vibra Energia (VBBR3.SA). Energisa offered 1.42 billion reais ($280 million) for Companhia de Distribuiçao de Gas do Espirito Santo, as it is formally known, marking a 7.28% premium from its minimum fixed grant value. ESGas is responsible for the distribution of piped natural gas to more than 60,000 consumer units in the southeastern state of Espirito Santo, with residential, commercial, industrial, automotive, air conditioning and thermoelectric businesses. ($1 = 5.0744 reais)Reporting by Letícia Fucuchima; Writing by Carolina Pulice; Editing by Giles Elgood Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.

☆ Brazilian judge orders arrest of Bolsonaro’s ex-minister after Brasília rampage
▼ + stars: | 2023-01-11 | by ( ) www.nbcnews.com time to read: +6 min

BRASILIA, Brazil — A Brazilian Supreme Court judge ordered the arrest on Tuesday of the capital’s most recent public security chief after supporters of right-wing former President Jair Bolsonaro led a rampage through government buildings. Supporters of former Brazilian President Jair Bolsonaro storm the National Congress building in Brasília on Sunday. In the arrest warrant, Moraes cited their failure to ensure proper security forces were in place. A Reuters witness spotted police at the Torres family residence in an upscale Brasília neighborhood, where a resident said they left carrying bags. His son, Senator Flavio Bolsonaro, denied on Tuesday that the former president was responsible for the riots on Sunday.

Quarterly revenue rose 20.5% year-on-year to 171.66 billion pesos ($8.66 billion), driven by increased sales across markets and beating the Refinitiv consensus of 163.17 billion pesos. Operating costs rose in almost all of Femsa's divisions, including a 69.4% jump in its logistics and distribution business on increased transportation and labor costs. Earnings from companies in which Femsa has controlling stakes, including Dutch beer maker Heineken (HEIN.AS), also took a hit in the quarter, Femsa said. Femsa's core earnings, or EBITDA, for the quarter rose 14.4% to 23.20 billion pesos. Revenue at Grupo Nos, Femsa's convenience store joint venture with Brazilian energy firm Raizen (RAIZ4.SA), surged 156% from the year-ago quarter.

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