Feb 23, 2021
Brazils Petrobras calls meeting to elect Bolsonaro ally
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RIO DE JANEIRO (AP) — Board members of Brazilian oil giant Petrobras on Tuesday paved the way for approval of a retired general with no industry experience to take the helm of the state-controlled company, sparking fears of government meddling in pricing.
President Jair Bolsonaro announced last week that former Defense Minister Joaquim Silva e Luna would take over the firm, seeking to appeal to truck drivers who have threatened to strike over recent increases in fuel prices and whose 2018 strikes brought the country to a standstill.
Following standard procedure, Petrobras’ board voted on Tuesday to summon an extraordinary general assembly in order to elect Silva e Luna a board member, replacing Roberto Castello Branco, the company said in a statement. Once elected, Silva e Luna can be named chief executive.
Analysts said the nomination signaled to investors that political interests would take priority over the financial health of one of Brazil’s most iconic companies, and Petrobras shares were pummeled. It also stoked the market’s fear that his administration’s free-market economic agenda, which includes ambitious privatization plans, could be compromised, at least until after his 2022 reelection campaign.
“If he (Bolsonaro) had dealt with it in a different way, it would have been a more natural path. The way Bolsonaro used his power … generated some tension in the market,” said Lucas de Aragão, a partner at Brasilia-based political consultancy Arko Advice. “It’s a matter of broken expectations.”
Petrobras, a company wrapped up in the national identity, is also a major sponsor of arts and cultural events in Brazil. It is one of the major players exploiting the offshore pre-salt oil reserves, which former President Luiz Inácio Lula da Silva in 2008 called Brazil’s “passport to the future”.
Over the weekend, as Petrobras’ shares were plunging some 20%, Bolsonaro warned that there was more was to come. “We’re going to stick our finger into the electricity sector, which is another problem,” he said.
During her administration, which ended with impeachment, President Dilma Rousseff artificially suppressed fuel and energy prices. When that eventually unwound in 2015, inflation surged, which contributed to a plunge in her popularity.
On the campaign trail in 2018, Bolsonaro openly spoke of his disinterest in economic policy, referring all questions to a University of Chicago-trained, free-market economist, Paulo Guedes, whom he selected as his economy minister.
Petrobras’ current chief executive, Castello Branco, studied at the same university and Guedes chose him to lead the company. In recent years, executives have been working to restructure the company through the sale of non-strategic assets, using the proceeds to pay off debts and make investments. Castello Branco’s mandate is up at the end of March.
Bolsonaro’s decision “shows a weakening of the economy minister and his influence on the president,” said Gilberto Braga, a finance professor at the Ibmec university in Rio de Janeiro. “In some way the market is taking it as given that this is end of liberal economics.”
There is even concern that Guedes could resign, some analysts said, and that another general or someone aligned with Bolsonaro’s interventionist instincts could take his place. “That, in the market’s point of view, would be disastrous,” Braga added.
Aragão said Bolsonaro chose in Luna someone he could trust. But Luna may not be able to prevent fuel price readjustments on his own, he said.
“We have to remember Petrobras has a board, which is responsible for many of the key decisions, including price.”
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Canal TV and where to watch the Copa del Rey 2021 live online today News Spain – Latest News, Breaking News, Top News Headlines
FC Barcelona and Seville are measured again today Wednesday, March 3 in the second leg of the semifinals of the Copa del Rey. It will be the third meeting in less than a month between these two teams, perhaps the most important because it means the ticket to the final for the domestic tournament and the most feasible path for both teams to achieve a title this season.
A duel that will be led by the referee Sánchez Martínez and that will be televised live on DAZN and free on Telecinco. In addition, the party Barça-Seville will have the comments of the online meeting minute by minute on the website of OKDIARY with lineups, chances and goals from one hour before the game.
Match FC Barcelona – Seville key in the culé calendar. All the noise generated this week with Barçagate does not help the concentration in the team of Ronald Koeman despite the fact that they arrive with morale more than reinforced in sports after the victory last weekend at the Sánchez Pizjuán. The triumph for 0-2 In the sevillista fiefdom in the Santander League it allows the Catalans to believe in the comeback.
The Barça will have to do it without Pedri. The canary is the great low of Koeman For this game, his work between the lines in the midfielder was key for his team to also flow against the Andalusians. The youngster’s injury will give way to another key player such as Riqui Puig, the most similar to Pedri acting, or Antoine Griezmann, substitute in the last two games. The new Dutch system seems to have the French as the great loser.
For his part, Seville maintain the 2-0 that he achieved in the first leg at his stadium after a round match in which they deactivated the Catalans. The league game showed them that the Blaugrana also know how to do it the other way around and this third game, the third in less than a month, will break that balance. At stake a place for the final of the King’s Cup 2021 what has on the other side Athletic of Bilbao Y I raised waiting for outcome.
The match Barcelona – Seville back from the semifinals of the Copa del Rey will be televised this Wednesday, March 3 through the DAZN payment platform and open by Telecinco from the 21:00 hours and you will also be able to consult all the information of the meeting of Copa del Rey minute by minute on the website of OKDIARY from one hour before Barça – Seville with the previous, alignments and comments of the meeting with each action, goal or controversy.
What time does Barcelona – Seville play?
Spain: 03/03/2021 9:00 p.m. (8:00 p.m. in the Canary Islands). Argentina: 03/03/2021 17:00 hours.
Mexico: 03/03/2021 14:00 hours.
Colombia: 03/03/2021 15:00 hours.
Peru: 03/03/2021 15:00 hours.
chili: 03/03/2021 17:00 hours.
Venezuela: 03/03/2021 16:00 hours.
Uruguay: 03/03/2021 17:00 hours.
The Angels: 03/03/2021 12:00 hours.
New York: 03/03/2021 15:00 hours.
Where is Barcelona – Seville played?
Camp Nou Stadium (Barcelona)
Where do they televise the FC Barcelona – Seville?
Spain: DAZN, Telecinco
Argentina: DIRECTV Sports
Bolivia: DIRECTV Sports
Brazil: ESPN Brazil
Canada: beIN Sports LaLiga, beIN Sports, beIN Sports Ñ
chili: DIRECTV Sports
China: QQ Sports Live, PPTV Sport China
Colombia: DIRECTV Sports
Costa Rica: SKY Sports
Ecuador: DIRECTV Sports
The Savior: SKY Sports
France: beIN Sports
Guatemala: SKY Sports
Honduras: SKY Sports
Mexico: SKY Sports
Nicaragua: SKY Sports
Panama: SKY Sports
Paraguay: DIRECTV Sports
Peru: DIRECTV Sports
Portugal: Eleven Sports
UK: Premier Sport 1
Uruguay: DIRECTV Sports
Venezuela: DIRECTV Sports
U.S: ESPN +
Possible alignments of Barcelona – Sevilla
Barcelona: Ter Stegen; Dest, Mingueza, Piqué, Lenglet, Alba; Busquets, De Jong, Riqui Puig; Messi and Dembélé.
Seville: Bonus; Navas, Koundé, Diego Carlos, Escudero; Rakitic, Fernando, Jordán; Suso, En-Nesyri and Munir.