Petrobras studies to reduce stake to 50% of refining market, says president

02/15/2019

Petrobras president Roberto Castello Branco said he intends to reduce Petrobras’ stake in the Brazilian refining market to 50%. Currently, the company has almost the entire market.

He added that the company could sell 100% of its stake in some refineries. The remarks were made last night to journalist Miriam Leitão, in an interview broadcast on the “Globo News” channel.

Petrobras’ previous strategy in the management of Ivan Monteiro was to sell 60% of its stake in four refineries, two in the Northeast and two in the South.

The company would remain with 40% of these assets. In this model, Petrobras would continue with 60% of the country’s refining capacity.

Source: Valor

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