Regulatory News

With the seal of the National Petroleum Agency (ANP), Petrobras signed an agreement with the Administrative Council for Economic Defense (Cade), an agency of the Ministry of Finance, to undertake selling eight oil refineries. The objective of the measure is to stimulate competition in the refining market in Brazil, now exploited almost entirely by the state, with new investors in the sector.

The ANP president, Décio Oddone, praised the initiative. "This commitment will bring investments, increase refining capacity and reduce our dependence on imports, bringing more competition, transparency and consumer benefits. It is a historic moment," he said.

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