Brazil’s state oil major Petrobras has agreed with the country’s antitrust regulator to stop selling refineries in order to boost its processing capacity. Five years ago, Bloomberg recalls, Petrobras had announced plans, coordinated with the watchdog, to sell a total of eight refineries. Now, after three sales, the company has ended the divestment, again in coordination with the regulatory organ. The change in plans comes as the Brazilian government exerts growing pressure on Petrobras to expand its operations and create more jobs,…
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