Sale of Petrobras refineries does not violate STF decision, says government

July 6, 2020

Reuters) – Petrobras’ decision to sell part of its refining assets is in line with national energy policy and does not go against the Supreme Federal Court (STF) decision on privatization, defended the Ministries of Economy and Mines and Energy in joint note this Monday.

The manifestation of the portfolios follows the movement of the Tables of the Chamber of Deputies, the Senate and the Congress, which last week asked the preliminary injunction to prevent the sale by Petrobras of two refineries, claiming that the operations would need legislative approval.

According to the ministries, there is a decision by the STF that the requirement for legislative authorization does not apply to the sale of control of subsidiaries or controlled companies, which can even be done without bidding, subject to the requirement of competitiveness in the divestment process.

“In this way, the Ministries of Mines and Energy and the Economy reinforce the need to enforce the previous decision of the STF and support the process of transition from the refining segment to a framework of greater plurality of agents, more open and dynamic”, stated in the statement.

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