Dispute for oil prices: Petrobras and private refineries at the center of competition

After accusations to Cade, Petrobras responds that the oil market has a diversity of suppliers, both national and international. Private refineries are in the race for oil prices with the state-owned refinery.

Private refineries have recently launched accusations against Petrobras, triggering the Administrative Council for Economic Defense (Cade) in search of measures to balance competition. They claim that the state-owned company favors its own refineries by selling oil to lower prices, creating a disparity of up to 10%. Specialists support the claim, emphasizing its economic impact and the regulatory instability that could affect investments in Brazil. The outcome of the dispute and Cade's role will be decisive in the search for an equitable solution.

Private refineries accuse Petrobras of oil price disparity

In the Brazilian energy scenario, Petrobras maintains its position as a central player, holding a significant 80% of the refining capacity in the country and supplying more than 93% of the national oil production.

However, a controversy is intensifying as a group of private refiners launch accusations against Petrobras, alleging imbalance in free competition and abuse of market power.

The Associação Brasileira de Refino Privado, known as Refina Brasil, a conglomerate that includes the Arab megafund Mubadala Capital and companies representing 20% ​​of national fuels, has taken bold measures.

In June, they appealed to Cade in search of measures that would oblige Petrobras to practice oil sales prices equivalent to those of its own refineries.

According to Refina Brasil, Petrobras is offering more advantageous conditions to its own refineries, selling oil at lower prices.

The numbers speak for themselves: the average difference, as claimed in the request submitted to Cade, is US$ 7 per barrel of oil.

In some cases, this discrepancy can reach 10% more than the price practiced for independent refineries.

“Petrobras is, at the same time, an oil producer and a competitor of private refineries because it has its own refineries. It transfers oil from the extraction part to the refining part at a better price and conditions than it does to private refineries, when it sells. This is an anticompetitive practice”, said the president of Refina Brasil, Evaristo Pinheiro.

Experts reinforce concerns of private refineries in accusations against Cade

Experts echo the claim of private refineries after accusations against Cade. Economist Adriano Pires, from the Brazilian Infrastructure Center (CBIE), highlights his concern with the economic impact.

He emphasizes that Petrobras' posture goes against fundamental principles of the free market, harming the attraction of investments to Brazil.

Specialized lawyers are also involved in the discussion. Ronaldo M. Assumpção Filho, from Miguel Neto Advogados, observes that Petrobras, in fact, has a dominant position in the market, but the central question is whether it is abusing this position.

José Del Chiaro, from Del Chiaro Advogados, adds political complexity to the debate, highlighting the change in Petrobras' pricing policy as an additional factor.

The discussion goes beyond the energy market. The uncertainty generated by this dispute could affect investments in the country as a whole.

After all, regulatory stability is a crucial factor in attracting investors. In addition, there are concerns about the impact on privately owned refineries, which face the risk of financial failure.

In response to the accusations against Cade, Petrobras emphasizes that the transfer of oil to its refineries does not follow a conventional purchase and sale model.

It claims that its performance is guided by an integrated model that takes into account a series of variables.

In addition, it highlights the diversity of suppliers available in the market, both international and domestic.