Senate approves MP that releases $ 1.5 billion to fight Coronavirus

The Senate approved the Provisional Measure that extinguishes the monetary reserve fund and allocates the resources, about R$ 9 billion ($ 1.5 billion), to fight the Covid-19. The proposal goes to the sanction of President Jair Bolsonaro. The text expects that the money will be distributed in the proportion of 50% for states and 50% for municipalities according to rules to be stipulated by the federal government.

Source: Exame

Petrobras will pay $ 472 mm to consortium members

Petrobras informs that it has signed the Spending and Volume Equalisation Agreements (AEGV) with the respective consortium companies of the shared deposits of Lula, Atapu and Sépia, in Rio de Janeiro. As a result of the process, the company will pay the consortium members and their affiliates the approximate net amount of $ 472 million, which will occur in the second quarter of 2020.

Source: Agencia Estado

Ultrapar has a 31% drop in profit in the 1st quarter, to $ 28 mm

Ultrapar recorded net attributable to the company’s shareholders of R$ 160.9 million ($ 28 million) in the first quarter, down 31% compared to the R$ 233.7 million ($ 40 million) recorded a year earlier. Despite the improvement in operating performance, the company ended the quarter with a net financial expense of R$ 168 million ($ 29 million), compared to revenue of R$ 1 million ($ 173 k ) in the same period of 2019.

Source: Valor Investe

Government revises estimate for GDP in 2020 to fall 4.7%

The federal government revised the official estimate for the Gross Domestic Product (GDP) of 2020 and started to forecast a fall of 4.7%. The number was released by the Ministry of Economy on Wednesday (13) through the 2020 budget revenue and expenditure report. The previous forecast, released in March, at the beginning of the crisis generated by the new coronavirus pandemic, was that the economy would grow by 0.02% this year.

Source: G1