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Petrobras Sees No Deadline To Cut Prices Despite Pressure: Folha

BRAZIL
  • Despite the pressure publicly exerted by President Bolsonaro, the Petrobras leadership has said internally that there is no deadline for lowering fuel prices, even with a recent drop from the highs in oil prices.
  • To people close to him, the president of the state-owned company, General Silva e Luna, says that the decision to review the mega increase given by Petrobras in gasoline and diesel depends on the behaviour of the market.
  • Separately, still awaiting further details on the Globo headlines that the government plans to appoint Jardim as new Petrobras CEO.
  • For reference, Reuters reported that Brazil's government appointed former Petrobras executive Rodolfo Landim to chair the state-controlled oil producer's board, the company said in a filing roughly two weeks ago.
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