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Negotiations Over Petrobras Position, Vale Announcements

BRAZIL
  • Estadao have reported that Senator Davi Alcolumbre is negotiating with the Lula government a space at Petrobras for the Brazilian ambassador in Portugal, Raimundo Carreiro . The former minister of the Federal Court of Auditors took the position on the recommendation of former president Jair Bolsonaro, but wants to return to Brazil. The negotiations take place at a time when the PT wants changes at Petrobras to fill the board with people closely aligned to the party.
    • The news follows a meeting between Lula and Petrobras CEO Jean Paul Prates on Thursday.
  • Markets will likely react to Vale’s announcements on Thursday night that included the sale of a 13% stake in Vale Base Metals for $3.4 billion, the payment of BRL 8.28b in interest on equity, as well as new All-in components projections for 2023 and the 2Q23 earnings report.

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