Portuguese 
English 
Spanish 
2 min of reading 
Petrobras is under a bit more pressure after state finance secretaries, with the acquiescence of their governors, approved last week the unfreezing of fuel prices, those on which ICMS is levied, for the purpose of increasing revenue.
Since the beginning of the pandemic, these prices have already increased by more than 30% and are now set to rise even further. It’s worth noting that some states, such as São Paulo, have also raised rates under the current governments, and RJ maintains record rates for gasoline and ethanol.
The increase, contrary to the promise to keep them fixed until the end of January, seems to have been a retaliation due to Petrobras’ recent price hike.
-
The IMF shows Brazil’s reality in the coming years and projects the country back into the top 10 largest economies in the world by 2030, with a GDP of US$ 3.20 trillion and a jump of US$ 560 billion in five years.
-
With R$2 billion on the table, LG announces a giant factory in Brazil to produce refrigerators, washing machines, and dryers in a unit that will start operating in July 2026 in Paraná.
-
Delayed FGTS will offer online consultation starting in June, and workers will be able to track pending amounts through the Regularize Portal without leaving home, in a change that promises to speed up forgotten deposits.
-
BRICS powerhouse, partner of China, Brazil, and Russia, could become the 4th largest air market on the planet by 2030, driven by 280 million inhabitants, 17,000 islands, and an explosion in demand for flights and modern airports.
Since the FHC government, Petrobras is no longer a state-owned company, as more than 70% of its shares are in the hands of private investors, whether Brazilian or foreign. Many were even purchased by Brazilian workers using FGTS.
The Brazilian government, along with some state banks, holds just over 50% of its common shares, those that allow voting, thus having control.
Nevertheless, Petrobras and its executives are not free from being sued in court for a reckless action, which is failing to fulfill the mission of providing the best possible return on capital for its investors, paying hefty fines, as the company almost had to do. It is worth remembering that during Dilma’s government, the company was sued in American courts, and in the end reached an agreement that cost it billions of Reais and even prevented its executives from being imprisoned.
Of course, the governors are aware of this, but used the increase as a pretext; after all, a fatter treasury in an election year always helps to elect the “friendly group”.
And thus, we approach a record revenue collection, and whether federal or state, public services remain precarious, but electoral funds, salaries of the upper echelons of the public pyramid, including the judiciary and legislative, continue to be paid on time.
Be the first to react!