Petrobras may be privatized

The Investment Partnerships Program Council (CPPI) approved on Thursday (Jun. 2) a resolution that recommends the edition of a decree by President Jair Bolsonaro to allow the beginning of studies on the privatization of Petrobras – the state-owned Brazilian multinational corporation in the petroleum industry.

An inter-ministerial committee, made up of the Ministries of Economy and of Mines and Energy, will be in charge of the studies, both on the privatization of Petrobras and on the sale of contracts with PPSA, the state-owned company that manages the commercialization of oil extracted from the pre-salt layer.

Although the government did not confirm deadlines for the possible privatization of Petrobras, it is believed that the sale of the company to the private sector would stimulate private investment, at a time when the planet is going through an energy transition, and increase competitiveness.