Brazil’s Guedes Says Bolsonaro Open to Petrobras Privatization

By Reuters

RIO DE JANEIRO, BRAZIL – Brazil’s government is not currently considering privatizing state-run oil producer Petróleo Brasileiro SA, but President Jair Bolsonaro has shown openness to the idea for the first time, the nation’s economy minister said on Friday.

Addressing reporters after meeting with Argentinian Finance Minister Nicólas Dujovne, Economy Minister Paulo Guedes added that he is working on a program to make domestic natural gas cheaper, which should result in a downward price “shock” in 30 to 60 days.

Earlier in April, Bolsonaro said he had “initial sympathy” for the idea of privatizing Petrobras, as the firm is known, a shift in tone from prior statements.

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