Petrobras has competition: President Jean Paul Prates denies that the state-owned company is the only agent in the fuel market in Brazil

In an exclusive interview with CNN, the president of Petrobras, Jean Paul Prates, stated that Petrobras has competition in the fuel market in Brazil and, for this reason, does not understand the pressure on the state-owned company to practice prices linked to imports (PPI ).

According to Jean Paul Prates, “Petrobras has competition, all the refineries in the world are competitors. In Brazil we have in Amazonas (Ream) and in Bahia (Matharipe)”. He argues that if the company imports only 1%, it cannot sell the product at the import price of the other 99% that the company produces.

Although Petrobras is still the main company in the fuel market in Brazil, accounting for about 80%, there are other companies that represent about 19% of the market, such as Acelen and other small refineries and imports, mainly diesel.

Jean Paul Prates said that Petrobras' new pricing policy is necessary because the company has been losing customers to its competitors, including importers.

He also stated that the PPI was an “abstraction”, a word he has used since he took over the company in 2021. According to him, the PPI did not bring the predictability that they demand from the state-owned company. From now on, the company intends to manage the price according to normal market fluctuations.

A new pricing policy, which was announced on Tuesday (16), aims to increase the company's competitiveness. “It's a limited cushion, but by managing the refineries we managed to manage it”, said Jean Paul Prates.

Regarding the pricing policy linked to the PPI, Prates stated that “the idea that you need a table, that you need to know what the price will be in three months, this is an abstraction. We are moving away from an abstraction and into real life.”

This change in Petrobras pricing policy it is fundamental for the competitiveness of the company, which needs to adapt to changes in the market, and guarantee its survival and growth. With this new attitude, Petrobras should offer more competitive prices, allowing the company to conquer new customers and increase its market share.

Petrobras aims to continue to expand its activities in the Brazilian fuel market, offering quality products at fair prices. The company also intends to expand its operations in other sectors, such as biofuels and renewable energy.

Petrobras announces the end of the peg of oil prices with the dollar

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