September 22, 2023

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Petrobras shares fall, after Bolsonaro's speech and the risk of running out of diesel fuel

Petrobras shares fall, after Bolsonaro’s speech and the risk of running out of diesel fuel

Actions Petrobras The stock market fell today. favorite papers (PETR4), with priority in dividends, closed down 4.76%, at 30.60 BRL, and the other common (PETR3) He is entitled to vote at the meeting, lost 4.17%, to R$33.74.

According to the experts they consulted UOLThe oil company shares felt the effects of the president’s attacks Jair Bolsonaro (PL) for the company and the risk of running out of diesel in Brazil, which the company itself has alerted.

See details of the two events below and also if it is worth buying Petrobras shares.

More administrative changes?

Yesterday the chief Jair Bolsonaro (PL) made statements about changes in PetrobrasThat affected the stock today. a The president announced a new change at the head of the company this week, only 40 days after the previous exchange. “The Petrobras boss earns R$210,000 per month, do people listen there? The director earns R$110,000. If I’m going to keep pushing the button there, I don’t need qualified people there,” Bolsonaro said.

Nobody owns Petrobras, but I am the majority shareholder and I have the right, through the Ministry of Mines and Energy, to propose changes not only to the Board of Directors, but also to the Board of Directors and the President himself.
Jair Bolsonaro

There may be a diesel shortage, according to the company

The scenario became even more exciting after Petrobras confirmed the warning from the Federation of Individual Oil Workers (FUP) about the risk of Brazil running out of diesel.

According to columnist Mônica Bergamo, of the newspaper Folha de S.Paulo, the state-owned company sent a letter to the federal government to formalize the union alert.

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What do you do with Petrobras shares

Most analysis houses still recommend buying Petrobras shares. With profits of 44.5 billion Brazilian reais, the third highest quarterly result in the company’s history, the oil company topped the list of the most profitable companies in the first quarter of 2022, according to a survey conducted by the company. economics, Based on the results of companies in the Brazilian Stock Exchange.

But there is a growing trend in the market to change the recommendation of the state-owned company to the so-called “Carpentry oils” – Any smaller private oil companies like Petrorikoncavo (RECV3) And peterio (3 . ago).

The advantage of these companies is that they offer, in their stakes, an appreciation of oil, with less ups and downs – which Petrobras expects at least between now and the election, which will hold its first round on October 2.