Petrobras

Petrobras Suffers Growing Pains in Brazil’s Freed Up Fuel Market

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Zema, a 94 year-old retailer of toys and appliances in Brazil’s interior, has become an unlikely thorn in the side of state-controlled oil behemoth Petroleo Brasileiro SA.

This year Zema, which also runs gas stations, got its first fuel import license and joined a fast-growing group of new players that managed to, at least temporarily, squeeze Petrobras out of a market it has traditionally dominated. The margins that lured Zema and other players were attractive enough to undercut Petrobras and nearly erase its imports this year.

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Categories: Petrobras

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