The head of Brazil’s state-owned oil company Petrobras, Jean-Paul Pratis, said he plans to change the country’s fuel pricing policy, according to Reuters.
Pratiss told reporters he will change the company’s pricing policy, which links fuel to international oil prices, stressing that that doesn’t mean prices won’t be fully tied to the international market.
He explained that Petrobras’ pricing policy will have changed, but there is no cause for concern for investors. Because the reason for the change is in line with the country’s policy.
Pratiss is expected to shift the company from its focus on deepwater drilling towards renewable energy sources.
Pratis added: “I see Petrobras as a company that must look to the future and invest in the energy transition to meet the needs of the country”.
