See the measures the government is studying to pressure Petrobras

Petrobras aroused the ire of the political class by announcing, on Friday (17), a new 5.2% increase in gasoline, after 99 days without an increase in fuel. Already diesel had a high of 14.2%, after 39 days of frozen prices.

In the days leading up to the announcement, the company was already suffering attacks and pressure to hold down fuel prices. After having their appeals ignored, President Jair Bolsonaro, the top of Congress and other political actors reacted forcefully.

Bolsonaro called the adjustment “betrayal to the Brazilian people” and defended the creation of a CPI (Parliamentary Commission of Inquiry) to investigate the president of Petrobras, José Mauro Coelho, the other executives who make up the company’s management and board of directors. .

A CPI has the power to determine the performance of diligences, taking depositions, requesting information from public bodies and even breaking the telephone, banking, tax and telematic confidentiality of investigated persons.

Bolsonaro also said that the CPI would help “put an end” to the impasse involving fuels. “The most important thing is to change the president and directors of Petrobras. We hope to be able to do that in the coming days,” he said.

The president himself also admitted that, with the exchange, the expectation is to put someone who can “not grant this readjustment”.

Arthur Lira, president of the Chamber of Deputies, publicly asked for the resignation of the president of Petrobras, who was already fired by Bolsonaro in early May, but still occupies the chair due to the operational procedures for the approval of his successor at the shareholders’ meeting.

The resignation of José Mauro Coelho, however, could shorten this process. He also accused Coelho of being “slutty” and said that at Sheet that “goes to the stick” to “review everything from prices”. He also proposed raising Petrobras’ profit tax.

Increase may bring retaliation from Cade

The president of CADE (Administrative Council for Economic Defense) Alexandre Cordeiro, signaled that Petrobras may suffer sanctions from the competition defense body because of the rise in prices. Cordeiro, who is linked to Minister Ciro Nogueira (Casa Civil), said the company “doesn’t seem too concerned about its image.”

According to him, the high concentration of the oil and gas market in the hands of Petrobras may lead Cade to curb “abuse of a dominant position”.

Appointed to the STF (Federal Supreme Court) by Bolsonaro, Minister André Mendonça gave a period of five days for Petrobras to provide “detailed information” about the criteria adopted by the company in its pricing policy in the last 60 months.

According to the minister, Petrobras, as a mixed-capital company of the Union, must follow principles such as transparency and meet “the imperatives of national security, the relevant collective interest and its social function”.

The argument of Petrobras’ social role has been used by Bolsonaro and political allies in defense of a containment of readjustments by the company.

Check out the measures on the table against Petrobras

• CPI to investigate the president, directors and members of the Petrobras board of directors
• Raise taxation on the profits of oil companies such as Petrobras
• Forecast so that funds obtained with profit surcharge can be spent outside the ceiling
• Discussion of a legislative proposal to review the company’s pricing policy (which determines alignment with international prices)
• Possible administrative sanctions to the company for abuse of dominant power in granting readjustments
• Sanction of the bill that creates a ceiling for ICMS, state tax, fuel, energy, transport and telecommunications rates, in order to neutralize part of the increase