End of Petrobras monopoly in the refining sector

Petrobras and Cade (Administrative Council for Economic Defense) signed on Tuesday, 11, the term of commitment to transfer to the refining market, which consolishares the understandings between the parties on the plan of deinvestments in refining assets in Brazil.

The term aims to stimulate competition in the sector, encouraging the entry of new economic agents in the refining market and suspending the administrative inquiry initiated by the Cade Tribunal to investigate alleged abuse of Petrobras ‘ dominant position in National refineries.

“I hope that by realizing this initiative, we have an important contribution to the growth of productivity, to the attraction of new investments and we can give a portion of contribution to the return of the Brazilian economy to the path of Prosperity, “said Petrobras President Roberto Castello Branco.

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