Brazil New Energy Minister Call For Studies on Petrobras Privatization

Peter Frontini and Carolina Pulice
Friday, May 13, 2022

Brazil's newly appointed mines and energy minister, Adolfo Sachsida, said on Wednesday he will request studies on Petrobras' privatization as his first act in office.

"I request the beginning of the studies pending the proposal of the legislative changes necessary for the Petrobras' privatization," Sachsida said in his first address to media.

Sachsida, who used to be high-ranking Economy Ministry official, replaced former minister Bento Albuquerque on Wednesday, in the latest sign of political turmoil over fuel-price hikes by Petrobras.  

The new minister also said it is essential to continue with the privatization process for power company Eletrobras as a sign to attract capital to Brazil.

Sachsida said he will ask Economy Minister Paulo Guedes to include Pre-Sal Petroleo (PPSA), the state-run company that oversees the country's oil and gas production-sharing contracts, at the national privatization program "to evaluate its privatization alternatives."

(Reporting by Peter Frontini and Carolina Pulice; Editing by Leslie Adler)

Categories: People & Company News Energy Activity South America

Related Stories

Enauta Sells 20% Stake in Atlanta and Oliva Fields in $300M Deal

Euroports and BlueFloat Forge Strategic Offshore Wind Alliance

Norway's Inaugural Offshore Wind Auction Continues Tuesday

Current News

Baker Hughes: US Drillers Cut Oil and Gas Rigs for Second Week In A Row

Seaway7 Gets Baltica 2 Offshore Wind Job

First Gas Export to Denmark from Tyra II Expected Today

Vattenfall to Take Part in IJmuiden Ver Offshore Wind Tender in Netherlands

Subscribe for OE Digital E‑News