Petroleo Brasileiro (PBR), or Petrobras, said Friday its board approved joining the economic subsidy program for the commercialization of road diesel in Brazil.
The company said the participation is optional and considered compatible with its interests, given the potential financial benefit.
The signing of the agreement will depend on regulatory guidance from Brazil's National Agency of Petroleum, Natural Gas and Biofuels regarding the reference price needed to implement the subsidy, it added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments