Bolsonaro says Petrobras is “unfortunately” independent and suggests privatization

Commenting on rising fuel prices, President Jair Bolsonaro regretted this Saturday (6) that Petrobras is independent in defining quotations and spoke again about the possibility of privatizing the company.

“We know about inflation, fuel increases, we know about Petrobras, (it) is independent, unfortunately, independent. And we are looking for a way on our part to get rid of Petrobras”, he said, after participating in a motorcycle in Paraná.

The president also expressed his intention to slice up “enough” Petrobras and “maybe go for privatization”. But he reasoned that this privatization process would take time.

Petrobras has been carrying out an extensive divestment program, which includes sales of eight refineries, to reduce its debt and focus investments in oil exploration and production assets in the pre-salt.

Recently, Petrobras executives reinforced that the company follows a fuel price policy that is based on independent technical analyses, but avoids passing on external and exchange rate volatility caused by economic events to the market and clients.

With adjustments at the end of last month, diesel sold at Petrobras refineries began to accumulate an increase of around 65% this year, while gasoline rose more than 70% in 2021.

Bolsonaro’s comments come after the Ministry of Economy sent a communication to Petrobras stating that there are no studies for the privatization of the company, after President Jair Bolsonaro made statements on the subject.

“The Ministry of Economy sent a formal communication informing that there is no relevant fact to be communicated to the market by the Union at this time or recommendation to include the privatization of Petrobras in the Investment Partnership Program, and that there are no studies or evaluations in progress that address the issue ”, Petrobras informed in a public note released on Friday (5).

Wanted by CNN this Saturday, the company informed that it will not take a position on the speech of President Jair Bolsonaro and highlighted that the only position taken by the state-owned company will be the one already sent this Friday (5th).

PEC of Precatório

The president once again affirmed the importance of the National Congress concluding the vote on the so-called PEC dos Precatórios, for the government “to make the budget work next year, to double the Bolsa Família”.

“We are experiencing food inflation, fuel inflation, we are paying the ‘stay-at-home’ bill, we can see the economy later”, he commented in front of an audience, made up in large part of motorcyclists who participated in the event.

He also said that it is important to renew the Judiciary.

“In the Judiciary there is also renewal, whoever is elected president next year appoints two Supreme Court justices in early 2023, it changes, we are oxygenating, and we cannot remain in power forever, that is not good, my limit is eight years” , he said.

*With information from Thayana Araújo, from CNN, in Rio de Janeiro