June 28, 2022
Petrobras

Shares of Petropras plunged in the United States after a direct conversation about Bolzano

Declaration of President Jair Bolsanaro (No party) About Change Petrobras’ pricing policy, Claiming that the company should have “social bias” and give up high profits, and it had an immediate effect: the oil company’s shares fell in the international market.

On the Nora York Stock Exchange (USA), after a close of regular trading, shares of Petropras fell 3.8% in the so-called “after-the-hour” trading – which is trading after the close of the day.

In a live broadcast on social media this Thursday (10/28), Bolzano He said he was studying the change in the pricing policy of Petroprose. Currently, the price of fuel sold by a state-owned company is linked to the exchange rate and price of a barrel of oil in the international market.

“Petrobras is forced to raise prices because it has to follow the law, and we’re trying to find ways to change the law in this regard because it’s not fair to live in a country that pays for everything real. No one really understands, ”the president said live.

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The live broadcast was brought forward by two hours as Bolsanaro travels to Italy in the evening to attend the G-20 summit of the group of 19 richest countries in the world and the European Union. .

Fuel prices in Brazil were controlled for many years, especially during the administration of former President Dilma Rousseff (PT). In 2016, under the direction of Pedro Parente, appointed by Michel Temer (MDB), the state-owned company began to accept the Import Equilibrium Price (PPI) in line with the prices charged by Petrobras to the international market.

As a result, the rise in the value of a barrel of oil and the depreciation of the dollar against the dollar created a continuous increase in fuel prices in the country, which triggered a truck drivers’ strike in May 2018.

“Social pro”

Live, the president said Petropras should have a “social bias” and not have to give too much profit to shareholders.

“No one is going to break a contract, no one is going to break anything. I told Paulo Quetz to put Petropras on the radar of privatization because if it is a monopoly, it must have its social bias in the right direction,” he stressed.

“No one wants to do anything with Petropras’ money. We want Petropras not to lose money. Obviously, Petropras needs to invest in gas, not just in other areas. No one is going to find anything, ”the president said.

“But it has to be a more profitable company as it has been doing. This is because Petrobras is paying off billions in debt through recent robberies at a company such as three refineries that are making huge profits for shareholders, ”he concluded.