Brazil oil regulator says Petrobras shakeup will not change refinery policy

Brazil oil regulator says Petrobras shakeup will not change refinery policy

News: Brazil oil regulator says Petrobras shakeup will not change refinery policy.

RIO DE JANEIRO (Reuters) – Brazilian oil regulator ANP does not see President Jair Bolsonaro’s appointment of a new CEO for Petrobras changing the country’s policy of opening the domestic refining market to private investment, ANP director general Rodolfo Saboia said on Monday.

Shares in Petroleo Brasileiro SA, as the company is officially known, fell 21% on Monday after Bolsonaro promised to change fuel pricing policies to lower domestic prices following management restructuring. Petrobras has already announced plans to sell several refineries.

Reporting by Marta Nogueira; Writing by Jake Spring; Adaptation by Rosalba O’Brien

Original Source © Reuters

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