Brazil, Petrobras work to prevent regional monopolies after refinery sales

The Brazilian government and its state-controlled Petroleo Brasileiro SA have begun talks surrounding steps to prevent regional monopolies after the oil company divests some of its refineries, Brazil’s minister of mines and energy said.

Petrobras said last year it would sell some of its refineries in the Northeastern and Southern regions. The move is part of an effort to pay off its high debt load after becoming entangled in a corruption scandal.

“This is a process that we have been discussing among Petrobras, the government, and we are talking with many actors to deal with this subject,” said Bento Albuquerque, Brazil’s minister of mines and energy, in an interview on the sidelines of IHS Markit’s CERAWeek conference in Houston.

From the Archive

Comments

Comments

{{ error }}

Add Comment

{{ comment.name }} Editor • {{ comment.dateCreated | date:'short' }}

{{ comment.text }}