In an interview with CNN, the president of Petrobras, Jean Paul Prates, denied that Petrobras is still the only agent in the fuel market in Brazil, and, for this reason, said he does not understand the pressure on the state-owned company to practice prices linked to import (PPI).
“Petrobras has competition, all the refineries in the world are competitors. In Brazil we have them in Amazonas (Ream) and Bahia (Mataripe)”, he said in an interview about the company’s new pricing policy, announced this Tuesday, 16. “Because if I import 1% I cannot sell at the import price 99 %”, he added.
Petrobras accounts for around 80% of the derivatives market. Around 14% are owned by Acelen and another 5% by other small refineries and imports, mainly diesel.
Prates has said that the new policy is necessary because Petrobras has been losing customers to its competitors, including importers.
He went back to saying that the PPI was an “abstraction”, a classification used by him since he took over the company. According to him, the PPI did not bring the predictability that they demand from the state-owned company, and that from now on it will be easier to manage the price according to normal market fluctuations.
“It’s a limited cushion, but by managing the refineries we managed to manage it”, he explained.
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