Adjusted EBITDA for the quarter came at R$199mn (+150% YoY). After adjusting for a one-off of R$11mn (goodwill from Areia Branca), adj. Ebitda was R$209mn, a touch above our expectations.…
The government confirmed that Mr. Silva e Luna would no longer be Petrobras’s CEO or a board member, and the government nominated Adriano Pires to replace him. The board election will happen on April 13, and the board should consider Mr. Pires to take place as CEO after that.…