PetroRio production rises in March, new Fleury CEO, JBS rating high, BC approves Bradesco capital increase and more

PetroRio production rises in March, new Fleury CEO, JBS rating high, BC approves Bradesco capital increase and more
PetroRio production rises in March, new Fleury CEO, JBS rating high, BC approves Bradesco capital increase and more

SÃO PAULO – The corporate news this Thursday (8) is busy. Among the highlights, the credit rating agency Moody’s this Wednesday raised JBS’s rating from Ba2 to Ba1, with a stable outlook. Bradesco informed that the Central Bank approved Bradesco’s capital increase of R $ 4 billion, to R $ 83.1 billion.

Fleury reported that its board of directors elected Jeane Tsutsui as the company’s new CEO. Tsutsui, who held the position of director for nine years, will replace Carlos Marinelli, who will step down after seven years, the company said, adding that the transition will take place by the end of April.

PetroRio, in turn, produced an average of 33,700 barrels of oil equivalent per day (boe / d) in March, up 12.7% from February. In the first quarter, the average production was 31.3 million boe / d. The company did not detail the reasons for the increase in production. Check out the highlights:

Credit rating agency Moody’s upgraded JBS’s rating from Ba2 to Ba1 on Wednesday, with a stable outlook.

According to Moody’s, the decision reflects the company’s strong continuous operating performance, which led to improved liquidity and lower refinancing risk.

“JBS has implemented a series of initiatives to extend debt maturities, amortize debt and reduce financing costs, supported by clear financial policies for minimum cash requirements and leverage,” said the agency.

“The positive environment for the protein industry will allow JBS to further strengthen its business profile, credit and liquidity metrics,” added Moody’s.

The Central Bank approved Bradesco’s capital increase of R $ 4 billion, to R $ 83.1 billion; the capital increase will involve a 10% share bonus.

As the document filed with the Securities and Exchange Commission (CVM) points out, shareholders who are registered with the bank on April 16 will benefit, and as of the 19th, the shares will be traded without the right to a bonus.

Petrobras informed that it signed a judicial agreement with Eletrobras and Amazonas Energia for the recovery of a credit in the approximate amount of R $ 436 million, and also said that the settlement will have a positive impact of R $ 328 million in its balance sheet for the second quarter. According to a statement from Petrobras, the agreement involves the receipt of amounts litigated by the indirect subsidiaries of the oil company (Breitener Tambaqui and Breitener Jaraqui) vis-à-vis Amazonas Energia S / A (debtor) and Eletrobras (joint and several liability).

Still on the state company’s radar, Bolsonaro returned to criticize the prices practiced by Petrobras in the fourth quarter. The company had a strong loss of value in February, after Bolsonaro sacked the then president of the company, Roberto Castello Branco, and replaced him with reserve general Joaquim Silva e Luna. Bolsonaro had been pressured by truck drivers about the price of diesel, and had been dissatisfied with the increase.

On Wednesday, the president stated that the 39% increase in the price of gas announced by Petrobras this week is “unacceptable”. Despite saying that it will not interfere with the state-owned company, he said that the company’s pricing policy may change.

Bolsonaro also said, in a speech in Foz do Iguaçu, that he had to withdraw from Congress the bill that changed the way the states charge ICMS on fuels, but that he will resubmit the proposal in 15 days.
According to the president, there is a need for predictability for Petrobras’ pricing policy and the population cannot live with the “tax revenue” of the federal government and state governments.

Regarding Bolsonaro’s statements involving the gas readjustment and possible changes in Petrobras’ price policy, the state-owned company informed that “it asked its controlling shareholder, through the Ministry of Mines and Energy (MME), about the existence of relevant information that should be disclosed to the market, and so far, has not received a response ”.

PetroRio (PRIO3)

PetroRio, in turn, produced an average of 33,700 barrels of oil equivalent per day (boe / d) in March, up 12.7% from February. In the first quarter, the average production was 31.3 million boe / d. The company did not detail the reasons for the increase in production.

On the other hand, the company explained that the production of the Tubarão Martelo field, in the Campos Basin, was impacted by the stoppage of a production well, due to the failure of the submerged centrifugal pump, causing a reduction in production by approximately 1,400 barrels / day.

“The pump, which had been in operation since the start of production in the field, is awaiting the deployment of the Atlantic Zephyr probe now called Kingmaker to carry out a workover, scheduled to be completed in May / June,” said the company.

Fleury said its board of directors has elected Jeane Tsutsui as the company’s new CEO. Tsutsui, who held the position of director for nine years, will replace Carlos Marinelli, who will step down after seven years, the company said, adding that the transition will take place by the end of April.

“With this movement, we started a new cycle of accelerating growth, digital / technological transformation of the company, with the ambition to build a sustainable health ecosystem, in line with the best ESG practices”, said Fleury.

In a closed online event at Bradesco BBI, the rapporteur of the provisional measure (MP) for the privatization of Eletrobras in the Chamber, deputy Elmar Nascimento (DEM-BA), told investors that there is “pressure” from parliamentarians for changes in the text that allow directing more resources generated by the operation to alleviate energy tariffs. The speech about possible changes in the MP, sent by President Bolsonaro to Congress in February, comes at a time when there are projections of a sharp rise in electricity bills in 2021.

Cielo announced a partnership with Google to digitize small and medium-sized companies in Brazil. The initiative, points out the company, can impact more than 600 thousand businesses, who will have access to create a digital profile, open a virtual store and create online advertising campaigns.

The partnership is part of the Google My Business tool, a free platform created by the internet giant for entrepreneurs and that will allow the management of the company’s profile in search and on Google Maps. When Cielo is accredited, the company can authorize the card accreditor to use the register to create the profile.

The agreement illustrates Cielo’s growing effort to advance in the market for smaller retailers, as part of the goal of the CEO, Paulo Caffarelli, to make small businesses, which today represent 40% of the company’s revenue, have equivalent participation that of large customers until December.

No radar

The “Infra Week” also continues: the auction of the first stretch of the West-East Integration Railway, Fiol 1, takes place this Thursday at B3 starting at 2pm. The National Land Transport Agency (ANTT) will grant the 537 km stretch between the cities of Ilhéus and Caetité, in Bahia.

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