http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png 0 0 RSS FEED http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png RSS FEED2018-05-31 04:19:592018-05-31 04:19:59Brazil Oil Workers Begin Strike In New Blow To Government
Brazil Oil Workers Begin Strike In New Blow To Government
Brazilian oil workers began a 72-hour strike on May 30 in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America’s largest economy for over a week.
The strike affecting several rigs, refineries, plants and ports is the latest challenge for state-led oil firm Petroleo Brasileiro SA (NYSE: PBR), whose shares have tumbled nearly 30% in two weeks over fears that political interference would unwind more investor-focused policies.
Late on May 29, Reuters reported that Temer was considering an overhaul of a market-based fuel pricing policy at Petrobras, which could provoke even more investor flight. Temer’s office said in a May 30 statement that he would preserve the policy.