Brazil’s Petrobras and unions failed to reach an agreement on Monday over worker demands that the state-run oil company reverse budget cuts and cancel assets sales aimed at trimming its massive debt, union and company officials said.
The week-old strike, already the biggest in 20 years, now risks an impasse that could hurt domestic fuel supplies and further hobble a company already under financial pressure and the fallout from a corruption scandal.
“Our demands are not for salaries, but in defense of national sovereignty and that the company goes back to being the impulse for development of the country,” FUP, the country’s main oil-union federation said late Monday.
Combined with a growing truckers strike, the Petrobras walkout could further harm a Brazilian economy already struggling with its worst recession in decades.
The two sides plan to meet again on Tuesday. A Petrobras official with direct knowledge of the talks told Reuters on Monday the company expects an agreement by the end of the week.
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Brazil Energy Insight 
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