International

Petrobras notches $5.9 bn profit in Q3

AFP

Brazilian state-run oil company Petrobras reported a hefty net profit of $5.9 billion for the third quarter Thursday, beating analysts’ expectations as oil prices continued to climb.

It was the fourth straight quarterly profit for the company, up from a loss of $236 million for the same period in 2020, when the coronavirus pandemic had sent crude prices crashing.

Since then, Petrobras has rebounded on the back of soaring prices — so much so that far-right President Jair Bolsonaro said earlier on Thursday it was making too much profit.

“Petrobras needs to be a company that doesn’t post excessively high profits, as it has been doing,” he said in his weekly live address on social media.

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“It has to play a social role, in the good sense of the term.”

Bolsonaro made the remarks just before the company announced its profit for the July-September period, which followed a profit of $8.1 billion for April-June.

Petrobras said the boost had come largely from the rebound of Brent crude prices to an average of $73.47 a barrel in the third quarter, up 70.9 percent in a year.

The company has largely passed that increase on to customers at the pump, drawing the ire of consumers — and Bolsonaro — as fuel prices soar.

The president had also criticized Petrobras on Wednesday, saying, “It’s a state-run company that, with all due respect, is just giving me headaches.”

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He said he was looking at putting the company “on the radar” to be privatized as part of his government’s massive sell-off of state-run firms.

Bolsonaro has not shied away from shaking things up at Petrobras in the past.

In February, he appointed army reserve general Joaquim Silva e Luna as chief executive of Petrobras, replacing respected CEO Roberto Castello Branco shortly after saying the firm should not be constantly “surprising people” with price increases.

International

Kristi Noem credits Trump for mass migrant deportations by mexican president

U.S. Secretary of Homeland Security Kristi Noem claimed that Mexican President Claudia Sheinbaum has deported “more than half a million” migrants due to pressure from former President Donald Trump.

During a cabinet meeting highlighting the “achievements” of Trump’s administration in its first 100 days, Noem asserted that under the Republican leader’s influence, “Mexico has finally come to the table” to negotiate on migration and fentanyl trafficking.

“The president of Mexico told me she has returned just over half a million people before they reached our border,” Noem stated, criticizing media reports that suggest the Biden administration deported more migrants than Trump’s.

“I wish those deportations were counted,” Noem added, “because those people never made it to our border—she sent them back because you made her.” She went on to thank Trump: “They never made it here because they got the message—because you were so aggressive.”

Noem has made controversial claims about Sheinbaum in the past, prompting the Mexican leader to refute them.

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On April 1, Sheinbaum responded to one such statement by declaring, “The president answers to only one authority, and that is the people of Mexico,” after Noem said on Fox News that she gave Sheinbaum “a list of things Trump would like to see” and that Mexico’s actions would determine whether Trump granted tariff relief.

International

Vatican releases special “Sede Vacante” stamps ahead of papal transition

he Vatican’s post offices and select collector shops began selling special edition stamps this week to mark the period between the death of Pope Francis and the election of his successor.

Known as “Sede Vacante” stamps, they feature an image used on official Vatican documents during the interregnum between popes — two crossed keys without the papal tiara. These stamps went on sale Monday and will remain valid for postal use only until the new pontiff appears at the window overlooking St. Peter’s Square.

Until then, they can be used to send letters, postcards, and parcels. “Once the new pope is elected, the stamps lose their postal validity, but their collectible value rises,” said Francesco Santarossa, who runs a collectors’ shop across from St. Peter’s Square.

The Vatican has issued the stamps in four denominations: €1.25, €1.30, €2.45, and €3.20. Each is inscribed with “Città del Vaticano” and “Sede Vacante MMXXV” — Latin for “Vacant See 2025.”

International

Conclave to choose pope Francis’ successor could begin in early may

The conclave, which in the coming weeks must choose the successor to Pope Francis, will strictly follow a precise protocol refined over centuries.

The 135 cardinal electors, all under the age of 80, will cast their votes four times a day — except on the first day — until one candidate secures a two-thirds majority. The result will be announced to the world through the burning of the ballots with a chemical that produces the eagerly awaited white smoke, accompanied by the traditional cry of “Habemus Papam.”

The start date for the conclave could be announced today, as the cardinals are set to hold their fifth meeting since the pope’s passing. Luxembourg Cardinal Jean-Claude Hollerich suggested it could begin on May 5 or 6, following the traditional nine days of mourning. According to German Cardinal Reinhard Marx, the conclave could last only “a few days.”

Although the late Argentine pontiff appointed the majority of the cardinal electors, this does not necessarily ensure the selection of a like-minded successor. Francis’ leadership style differed significantly from that of his predecessor, Benedict XVI, a German theologian who was less fond of large public gatherings. It also marked a contrast with the popular Polish pope, John Paul II.

The Argentine Jesuit’s reformist papacy drew strong criticism from more conservative sectors of the Church, who are hoping for a doctrinally focused shift. His tenure was marked by efforts to combat clerical sexual abuse, elevate the role of women and laypeople, and advocate for the poor and migrants, among other causes.