Studies for privatization of Petrobras and PPSA will be immediately forwarded

The newly appointed Brazilian Minister of Mines and Energy Adolfo Sachsida’s first act in office has been requesting the Minister of Economy, Paulo Guedes, chairman of the Investment Partnerships Program, to assess options for the privatization of the oil and gas company PPSA.

Minister Sachsida also requested studies aimed at proposing the legislative changes necessary for allowing the privatization of the national oil giant Petrobras, which handles exploration, production and distribution of the country’s oil and gas resources.

In a statement to the press, referring to the global realignment of investments - currently leaving China and Russia - the Minister said that “pro-market reforms in Brazil made it possible” for our country “to become a safe haven in this period of uncertainty and global turmoil.”