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“There is no intention on the part of the president, at least he hasn’t formulated any idea in that sense”, said the spokesperson about the privatization of Petrobras
The government spokesperson, General Otávio do Rêgo Barros, stated yesterday, the 21st, that President Jair Bolsonaro (PSL) has no intention of privatizing Petrobras, the Brazilian state oil company. “There is no intention on the part of the president, at least he hasn’t formulated any idea in that sense”, said the military when asked if the president is considering privatizing the company. The state company had R$ 18.8 billion in profit in the second quarter of 2019, the largest profit in history!
The statement contradicts what the Minister of the Civil House, Onyx Lorenzoni, said earlier. Lorenzoni mentioned that the government will conduct objective studies to analyze the possibility of privatizing Petrobras, and that this work will be carried out by the technicians from the PPI (Investment Partnership Program), BNDES (National Bank for Economic and Social Development), and the Ministry of Mines and Energy.
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“The government conducts studies and works in an objective manner. Petrobras as a whole will undergo studies by the PPI team, the BNDES team, and the Ministry of Mines and Energy team. The actions of privatization are thorough. We have many years ahead”, he said.
The State Company Rises 8% on Privatization Rumor and Takes Stock Market to 101 Thousand Points
The index rose 2% after rumors that the oil company will have private control; Eletrobras and Telebras also surged.
The shares of the state oil company Petrobras surged abruptly on the afternoon of Wednesday (21), helping to boost the Ibovespa, the main indicator of the stock exchange. At the end of the session, the index closed up 2.00%, at around 101,201 points.
Petrobras’ turnaround came after a report from the newspaper “Valor Econômico” mentioning that the government intends to privatize the company by the end of President Jair Bolsonaro’s mandate, citing sources.
In addition, the oil company benefited from a victory obtained in the Administrative Council of Tax Appeals (Carf), which ruled in favor of the company in a fiscal administrative process of R$ 5.1 billion regarding the charging of Cide-Import.
The preferred shares (PN) of the state company rose by 8.03%, traded at R$ 25.95. At the close, it rose 5.95%. Meanwhile, the ordinary shares (ON) appreciated around 5.3%, priced at R$ 27.90.
Petrobras is the winner of the Transparency Trophy 2019
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