Brazil’s President Says Petrobras Should Pause Asset Sales (NYSE:PBR)
“Unfavorable” conditions for Petrobras (NYSE:PBR) to proceed with the planned asset sale, Brazilian President Luiz Inacio Lula da Silva said according to Argus Media in his first specific comments on the subject. since taking office in January.
“We told the president of Petrobras, Comrade Jean Paul [Prates] that it is necessary to suspend the sale of assets,” Lula said Wednesday.
The Brazilian Ministry of Mining and Energy recently asked the state-controlled company suspension of property sales for 90 days while reassessing its national energy policy; Petrobras (PBR) said last week that it had not “found grounds to suspend contracted projects.”
The contracts signed include the sale of fields on the shores of Potiguar in the state of Rio Grande do Norte for $1.38 billion and mature fields on the shores of Capixaba in the Arctic in the state of Espirito Santo for $544 million. la.
Separately, Petrobras (PBR) indicates it will discount wholesale diesel oil 4.5%effective from March 23, keeping petrol prices unchanged.
The company adjusted the price of diesel for the last time on February 28, causing fear it will start to subsidize domestic fuel.