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Reuters
Reuters
Business

Brazil's Bolsonaro says could split up Petrobras as prelude to privatization

Brazil's President Jair Bolsonaro speaks during a ceremony to announce new measures for Brasil Empreendedor (Entrepreneurial Brazil) credit program at the Planalto Palace in Brasilia, Brazil May 25, 2022. REUTERS/Adriano Machado

Brazilian President Jair Bolsonaro on Tuesday floated the idea of splitting state-owned Petrobras into various pieces as a prelude to privatizing it.

Speaking in a taped interview, Bolsonaro also reiterated his opposition to its policy of raising fuel prices in line with international market swings, arguing that the company was not fulfulling its "social function" as outlined in the country's constitution.

(Reporting by Lisandra Paraguassu; Editing by Christian Plumb)

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