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President Jair Bolsonaro Wants to Compare Fuel Prices Charged by Petrobras in Brazil with Other Countries, as Well as Other Percentages, in an Emergency Meeting Scheduled for Next Tuesday
Bolsonaro stated in a press conference yesterday (12) that he was surprised by Petrobras’s decision to adjust the diesel price by 5.7%, despite reaffirming that his government will not be interventionist, and thus not cause the same issues as previous administrations.
Next Tuesday – April 16, President Bolsonaro has called an emergency meeting to clarify the reasons behind this significant increase, given that the inflation forecast for the entire year of 2019 is below the 5% range.
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Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.
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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.
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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.
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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.
Bolsonaro says he wants to know absolutely everything: the basis of these percentages, pricing policies, how much a barrel of oil costs (extracted in Brazil vs. abroad), refining costs, etc., showing the population the final cost and how Petrobras arrives at these values.
He has already expressed his concern about certain federal taxes, such as ICMS (Tax on Circulation of Goods and Services), and declared that besides Petrobras and the President of the Republic, state governments should also be held accountable.
His goal is to try to reduce all taxes and interrupt the policy of resolving everything with a “stroke of a pen.” Right below, you can check Bolsonaro’s full interview regarding the accountability that the Brazilian state-owned Petrobras must provide to the government.
On the same day, April 12, Petrobras experienced a 5% drop in its shares after Bolsonaro temporarily intervened and asked the state-owned company not to raise diesel prices, which justified the above interview.
BR Distribuidora, the largest fuel station company in the country, is indeed expected to be part of Petrobras’s divestments. The oil company is in talks with banks and investors to sell 30% and thus retain 40%; the deal is expected to be closed so that revenues reach R$ 8 billion, given that the distributor is valued at R$ 27.3 billion and Petrobras’s stake is around R$ 20 billion based on Wednesday’s quote on B3 (São Paulo Stock Exchange). Read and understand more about it here.
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