When was petrobras privatized

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Latin America Brazil and Argentina sour Uruguay plans with Mercosur tariff cuts Uruguay wants to negotiate its own trade deals, independently of Mercosur. Where to tie up Ulysses now? Yet even with his backing, some market participants believe a privatization process might be difficult as it would involve a broader range of stakeholders.

Bolsonaro was elected in and at the time backed Guedes' privatization agenda, but so far has sold a limited number of state companies. SA , currently known as Vibra, was privatized in SA is expected to go through a capitalization round in early After urging Petrobras executives to keep down prices in recent years, Bolsonaro has said he respects the company's independent pricing policy, instead urging state tax reforms to bring down prices.

Ilan Arbetman, an analyst at Ativa Investimentos, said a potential privatization process would need to be taken very carefully, noting that a model for Eletrobras' sale was discussed for a long time until being settled earlier this year. Technically, Petrobras is a government-controlled private company, and the interests of its minority shareholders often clash with those of the government.

Now, Mr. Bolsonaro seems to see privatization as a way to avoid losing popularity due to ballooning inflation. Brazilians are paying much more to fill up their tanks — and fuel inflation has taken center stage in political debates. For weeks, House Speaker Arthur Lira has complained about Petrobras not fulfilling its social role by keeping rates pegged to international prices. On Wednesday, he led a push to alter how state-level taxes on goods and services are levied on fuels — which he claims could drop fuel prices by up to 8 percent.

Jair Bolsonaro during a radio interview. Photo: Still from broadcast. By Gustavo Ribeiro.