Bolsonaro to privatize PETROBRAS oil company in Brazil

Brazil’s President Jair Bolsonaro affirmed his intention to privatize PETROBAS state-owned oil company, amid a panorama of questioning and pressures due to the escalation of fuel prices.

‘I want to privatize PETROBRAS (…) I will see with the economic team what we can do,’ Bolsonaro stated during an interview granted to the Novas da Paz evangelical radio.

The head of State pointed out that ‘it would be good for everyone to help save fuel’ and that the price in the foreign market is high. ‘If we don’t pay, we will run out of fuel here,’ he predicted.

Such confession was uncovered at a time when the prices of flammables have skyrocketed, particularly gasoline, which has risen nearly 40 percent in the last 12 months.

‘What happens is that I cannot better guide the price of fuel, but when it increases, it is my fault. When gas rises, it’s my fault, even though I suspended the federal tax,’ the former military officer said, who previously refused to destabilize PETROBRAS because of its strategic position in the national economy.

The constant increase in the price of fuel generated an internal crisis in the company, and Bolsonaro ended up removing its president, Roberto Castello Branco, to substitute him for Army Reserve General Joaquim Silva e Luna.

In the face of noises, actions and sales negotiations, former president Luiz Inacio Lula da Silva called on the Brazilian people in October to defend PETROBRAS, the flagship of national energy autonomy and supplier of resources that guarantee basic rights of the population.