Bolsonaro says that Petrobras profit is ‘a rape’ and that new readjustments could break the country

President Jair Bolsonaro (PL) said this Thursday (5th) that Petrobras’ profit of R$44.5 billion in the first quarter is “rape” and “absurd”.

“Petrobras, we are at war. Petrobras, do not increase the price of fuel anymore. Your profit is rape, it is absurd. You cannot increase the price of fuel any more”, declared the president, during his weekly live.

“We appeal to Petrobras: ‘do not readjust the price of fuel’. You are making an absurd profit. If you continue to make a profit this way and increase the price of fuel, Brazil will break”, said the president, at another time. of the transmission.

Upon disclosing the result this Thursday, Petrobras announced the distribution of R$ 48.5 billion in dividends to its shareholders. It was the third largest profit ever recorded by a publicly held company in Brazil, according to a survey carried out by Einar Rivero with data from TC/Economática (the first two are from the state company itself, recorded in the fourth quarter of 2020 and the second of 2021).

According to Petrobras, the performance in the first quarter of 2022 was benefited by the appreciation of oil, higher exports and better margins in the sale of diesel, negatively offset by the lower volume of sales of derivatives.

Bolsonaro said in the live that he “does not rule Petrobras” and that it would be “irresponsible” to interfere in the company. However, he took a harsh tone against the company, calling the result also a “crime” and “inadmissible”.

“I can’t understand, I may be wrong: Petrobras, during the pandemic crisis and now the war abroad, is making a lot of money. Petrobras’ profit is greater with the crisis, this is a crime, it is unacceptable,” he said. .

He also argued that international oil companies would be working with lower profit margins because of the international crisis triggered by the Ukrainian War. “If there is another increase in fuel, it could break Brazil and the people at Petrobras don’t understand; or they don’t want to understand, or they’re just looking to make a profit,” Bolsonaro said.

Despite Bolsonaro’s complaints, data indicate that Petrobras has operated with values ​​that are out of step with the international quotation.

According to data from Abicom (Brazilian Association of Fuel Importers), this Thursday the average price of diesel in Brazilian refineries was R$ 1.59 below the import parity, a concept that simulates how much it would cost to bring the product from the United States.