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Tuesday, June 25, 2019

Michel Temer News

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Brazil Transport Agency to Revise Govt-set Freight Prices

National transport agency ANTT will revise Brazil's minimum truck freight prices, the regulator said in a statement late on Saturday, without providing details or a time-frame for an announcement of new government-set values.ANTT said on its website it would "promote the necessary adjustments" after "variations in the price of diesel fuel."On Friday, state-run oil company Petroleo Brasileiro SA lifted diesel prices by 13 percent at the refinery gate after oil regulator ANP disclosed…

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Brazil Freight Policy Signed into Law

Brazil's President Michel Temer signed into law a bill authorizing the government to set minimum truck freight prices, drawing criticism from farm groups who said the measures would drive up costs for food.According to a decision published in the official gazette on Thursday, Temer only vetoed one provision that would have pardoned truckers from paying fines for their role in staging an 11-day strike in May. The stoppage crippled Brazil's roads, hampering deliveries of everything from fuel to grains.The new law requires truck freight prices to be equal to…

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China Ramps up Role in Brazilian Transport Infrastructure

Chinese companies signed commitments on Friday to finance and build railways and ports that will help Brazil export iron ore and soybeans, the two main commodities it sells to China, during a state visit by Brazilian President Michel Temer. China Communication Construction Co Ltd agreed to finance the expansion of the Amazon basin port of Itaqui in the state of Maranhão, Brazilian Transport Minister Maurício Quintella told reporters in Beijing. He gave no further details. Separately…

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Brazil Mulls Longer, Flexible Port Licenses to Draw Investment

Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector. Building on the success of recent airport and power line auctions , President Michel Temer's government is hoping to add capacity at ports exporting commodities from sugar and coffee to soy at some of the world's lowest prices. Samuel Cavalcanti…

Petrobras to Name Silva to New Top Strategy Post

Brazil's state-led oil company Petroleo Brasileiro SA plans to appoint Nelson Silva, the former head of BG Plc in Brazil, as chief of strategy and management, a newly created position on its senior management committee, company sources told Reuters.   Silva came to Petrobras ealier this month as an advisor to new Chief Exectutive Pedro Parente, who was apointed by Brazil's interim-Presdient Michel Temer to cut the company's massive debt and find ways to revive investment.     (Reporting by Rodrigo Viga Gaier; Writing by Jeb Blount; Editing by Richard Chang)

Temer to Invite Pedro Parente for Petrobras CEO Post

Brazil's interim President Michel Temer will formally invite Pedro Parente, currently the chairman of financial bourse BM&FBovespa SA, to become chief executive of state-controlled oil company Petróleo Brasileiro SA , chief of staff Eliseu Padilha said on Thursday.   The announcement confirms an early Reuters report saying Parente, a former chief of staff under Fernando Henrique Cardoso government, would be picked for the job. (Reporting by Lisandra Paraguassu; Writing by Marcelo Teixeira)