Petrobras privatization not on the table, says Brazil economy minister

(Reuters) – Brazilian Economy Minister Paulo Guedes said on Tuesday that a privatisation of oil giant Petrobras was not on the agenda after the government said it would appoint a market-friendly consultant as new chief executive.

Speaking to journalists during a visit in Paris, Guedes outlined several planned privatisations, but when asked about the energy firm he told a news conference in Paris: “it is not on the table.”

Brazilian President Jair Bolsonaro has tapped a well-known academic and energy consultant as the next head of state-run oil company Petrobras, effectively ending the tenure of current CEO Joaquim Silva e Luna less than a year after he was appointed. Bolsonaro faces an election this year. read more

“I don’t think the change of CEO of this company will be a major factor at all,” Guedes also said.

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