Mantega: Petrobras blackmails the Brazilians, makes huge profits and distributes everything to shareholders

“Everything that the company earned in the third quarter will be distributed in the form of dividends. Instead of increasing the company’s investment and increasing product offering, [a Petrobrás] criticized the former minister
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247 – Former BNDES President and Former Finance Minister, Guido Mantega, in an interview with TV 247, criticized Petrobras’ policy, led by the Jair Bolsonaro government, in distributing ‘Fantastic’ profits for shareholders with abusive pricing from the Brazilians.

The former minister highlighted the exorbitant profits of the state-owned company in the second and third quarters of this year, but stressed that these figures were achieved only in the face of extortion by Brazilian citizens who At some gas stations in the country, they already pay US$7 per liter of gasoline, for example. “Petrobrás had a profit in the third quarter of R$31 billion, and in the second quarter of 2021 it made a profit of R$41.8 billion. It’s a great profit. But where did you get that profit from? Charged in Brazil. So gasoline is up 74% this General, diesel oil 64% and so on.

Mantega also criticized Petrobras’ decision to distribute its dividend to shareholders, most of whom are foreign, rather than valuing the internal population and investments in the company itself. “With all these dividends, what will Petrobrás do? Will you distribute it to the shareholders. I have never seen such a large amount of dividends paid. Only now they announced a dividend of 31 billion Rls. In other words, whatever the company does it will distribute dividends in the third quarter. Instead of increasing the company’s investment, increasing product supply, Petrobrás says there will be a shortage of products now in November, and it will pass on to shareholders.”

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