Petrobras Announces new President, Management Changes
Petrobras reports that it has received the letter of resignation of Mr. Aldemir Bendine the functions of a member of the Board of Directors and President of the Company today. In addition, Mr. Bendine also resigned today, the office of member of the Board of Directors of Petrobras Distribuidora - BR. In view of the resignation, the Board held a special meeting that has elected Pedro Pullen Parente engineer as a member of the Board of Petrobras today. The Council at the same meeting also elected Mr. Pedro Parente for the office of President of the Company since 05.31.2016 and has appointed the Director of Human Resources, Safety, Environment and Health and Human Services, Hugo Repsold Junior, for the interim exercise of the functions of the President of the Company.
Poor Soy Crushing Margins in China to Improve
Poor soy crushing margins in China that have led the country to default on soy purchases are short term and should improve in two to three months, Bunge Ltd's chief executive officer said. CEO Soren Schroder was in Brazil for the inauguration on Friday of Bunge's terminal in Barcarena in Para state on Brazil's northern coast, which cost 700 million reais ($314 million) to build and has a capacity of 4 million tonnes. "Margins in China are bad for everyone," Schroder said at a dinner late on Thursday. But "it's a short-term problem," he added.