FOR 6 VOTES TO 4, THE SUPREME COURT APPROVES THE SALE OF PETROBRAS REFINERIES WITHOUT CONGRESS APPROVAL

The Supreme Federal Court (STF) has decided that Petrobras can proceed with the sale of half of its refining park. The voting score ended 6 to 4 in favor of the oil company. As is well known, the judgment on the theme in the Court originated after the Senate and Chamber of Deputies questioned the way in which the refineries are being sold.

As a reminder, the topic was taken to the STF after a request made by the Senate and Chamber of Deputies. The parliamentarians alleged that the method chosen by the company to dispose of the plants constituted “deviation of purpose, a prohibited and unconstitutional practice, given the possibility of leading to ‘white privatizations’, in fraud of the democratic control of the National Congress”. A decision by the STF provides that Congress should be consulted in the case of the privatization of state-owned companies, but that the approval of parliamentarians is not necessary in the case of the sale of subsidiaries of public companies.

Source: PetroNoticias

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