Globo attacks Petrobras and the economic development of Brazil and Bahia.
Newspaper publishes editorial against the resumption of operations at the Mataripe refinery, which, after being privatized, began charging consumers more for petroleum products.
247 - The newspaper O Globo, which has historically campaigned against Petrobras and the development of the national economy, remained true to its tradition this Wednesday with the editorial... The renationalization of the Bahia refinery is yet another setback for Petrobras."Petrobras is about to repurchase the Mataripe Refinery (formerly Landulpho Alves), in Bahia, which was sold in 2021 to a sovereign wealth fund from the United Arab Emirates, Mubadala, for US$1,65 billion. This may be one of the few cases in the world of an oil company interested in acquiring a refinery. The hundreds of millions of dollars that the state-owned company will spend on the operation will not increase the country's refining capacity in any way. It is merely a desire, expressed in the company's new strategy, to resume an activity from which it should have already withdrawn," writes the editorialist.
After privatization, the Mataripe refinery began charging consumers more for petroleum derivatives, such as diesel and gasoline, harming the development of the region's and the country's economy. Contrary to what O Globo claims, several oil companies are fully integrated, operating in oil exploration, refining, and fuel distribution. With integrated operations, an oil company is better positioned to implement a pricing policy with a positive impact on its shareholders and society. Under the current management, led by Jean Paul Prates, Petrobras has reached its record market value and is right to seek to regain control of the refinery.