BrasilCom Aims to Veto Petrobras Refinery Privatizations

Written by Valdemar Medeiros

Published on 04/01/2021 at 10:36

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Representing About 46 Distributors, BrasilCom Seeks to Prevent the Privatization of Brazilian Refineries from Petrobras

In a statement released on Monday, the 28th, the National Federation of Fuel, Natural Gas, and Biocommodities Distributors (Brasilcom), which represents 46 fuel distributors, requested the Administrative Council for Economic Defense (Cade) to temporarily suspend the privatization program of Petrobras refineries.

BrasilCom Requests Rules from Petrobras Regarding Refineries

Brasilcom asks Petrobras that sales only proceed “when transition rules are established with measures that safeguard healthy competition and protect the distribution market from anticompetitive practices with their nefarious impacts on the pockets of fuel consumers from these refineries aimed at privatization.”

In the letter sent to Cade, Brasilcom explains that the Brazilian refining network was built by Petrobras in the 1970s following a policy to develop the base industry, a result of the II National Development Plan (II PND), in response to the global crisis resulting from the shock of oil prices.

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Petrobras Results in the Third Quarter of 2020

Petrobras’s result in the third quarter of 2020 (3Q20), released on October 28, showed a net loss of R$ 1.5 billion, compared to a profit of R$ 9.0 billion in the same period of the previous year, as reported by Brasilcom in its report.

Petrobras’s EBITDA reached R$ 33.5 billion in 3Q20, showing a growth of 14.4% compared to 3Q19. Petrobras’s EBITDA margin totaled 47.4% in 3Q20, showing a growth of 9.4 percentage points compared to 3Q19.

Petrobras’s net margin reached -2.2% in 3Q20, showing a contraction of -14.0 percentage points compared to 3Q19. Petrobras shares have accumulated a 4.29% increase on the stock exchange in the last 7 days and a decline of 7.67% over the last 12 months.

BrasilCom Aims to Veto Petrobras Refinery Privatizations

Representing About 46 Distributors, BrasilCom Seeks to Prevent the Privatization of Brazilian Refineries from Petrobras

Read Also

BrasilCom Requests Rules from Petrobras Regarding Refineries

Petrobras Results in the Third Quarter of 2020

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Bill Gates revealed that the true secret behind every great achievement is not a brilliant leap but rather small improvements repeated over the years, and the data from his own career and the fight against climate change prove that he is right.

Son of a seamstress from the rural area of Ceará who did not speak English wins a scholarship of over 2 million reais at Williams College, one of the top 10 universities in the United States, covering everything including dormitory, meals, and annual trips to Brazil.

Engineer creates reforestation method that transforms small plots into dense forests in a few years using local biomass and can reduce environmental recovery costs.

USS Gerald R. Ford: the floating city of $13 billion where 5,000 sailors serve 17,000 meals a day, sleep in stacked bunks, take 10-liter showers, and keep 75 fighter jets ready.

Pharmacy inside the supermarket: what changes now in your purchase, why medicines won’t go on the shelves, which rules remain strict, mandatory pharmacist, separate space, controlled storage, more convenience and competition in the country.

If Ormuz closes, the world freezes: the 1,200 km Saudi Petroline transports oil from the Gulf to the Red Sea, operates near 7 million barrels/day, and becomes a geopolitical weapon in the crisis with the US.

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BrasilCom Aims to Veto Petrobras Refinery Privatizations

Representing About 46 Distributors, BrasilCom Seeks to Prevent the Privatization of Brazilian Refineries from Petrobras

Read Also

BrasilCom Requests Rules from Petrobras Regarding Refineries

Petrobras Results in the Third Quarter of 2020

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

USS Gerald R. Ford: the floating city of $13 billion where 5,000 sailors serve 17,000 meals a day, sleep in stacked bunks, take 10-liter showers, and keep 75 fighter jets ready.

With 22 thousand tons of steel, a height nearly three times greater than the Eiffel Tower, and a cost of R$ 1.6 billion, China is building the highest bridge on the planet over a colossal canyon, reducing a crossing time of over 2 hours to just over 2 minutes.

NASA issues a warning for the feared Godzilla El Niño that could change the planet’s climate in 2026 with extreme warming of the Pacific capable of causing devastating droughts in some regions and historic floods in others simultaneously.

Bill Gates revealed that the true secret behind every great achievement is not a brilliant leap but rather small improvements repeated over the years, and the data from his own career and the fight against climate change prove that he is right.

Son of a seamstress from the rural area of Ceará who did not speak English wins a scholarship of over 2 million reais at Williams College, one of the top 10 universities in the United States, covering everything including dormitory, meals, and annual trips to Brazil.

Engineer creates reforestation method that transforms small plots into dense forests in a few years using local biomass and can reduce environmental recovery costs.

Petrobras evaluates suspension of sales to distributors and considers canceling the cooking gas auction following guidelines from the Federal Government.

Lula reveals a masterstroke by Petrobras to undo a deal made by Bolsonaro, which involves the return of an important refinery that currently produces less than half of what was expected and makes Brazil dependent on international diesel.

A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.

Petrobras implements a severe adjustment and confirms a 55% increase in the price of aviation kerosene with a proposal for installment payments for the companies.

The rise in oil prices could ensure an extra revenue of R$ 100 billion for the Federal Government, indicates a recent economic study.

USS Gerald R. Ford: the floating city of $13 billion where 5,000 sailors serve 17,000 meals a day, sleep in stacked bunks, take 10-liter showers, and keep 75 fighter jets ready.

Pharmacy inside the supermarket: what changes now in your purchase, why medicines won’t go on the shelves, which rules remain strict, mandatory pharmacist, separate space, controlled storage, more convenience and competition in the country.

If Ormuz closes, the world freezes: the 1,200 km Saudi Petroline transports oil from the Gulf to the Red Sea, operates near 7 million barrels/day, and becomes a geopolitical weapon in the crisis with the US.

Spain surprises the world by erecting 62 artificial dunes, mixing sand with natural remains of posidonia, and causing the structure to lose only 1.4% of its volume in 1 year.

In an isolated homestead in the mountains, a family builds a two-story tower with pallets, reclaimed wood, and scrap, transforming discarded materials into a functional off-grid home and proving that improvisation can also lead to surprising construction.