Petrobras Board Greenlights Participation in Brazil's New Diesel Subsidy Program
MT Newswires Live09-21 19:07
Petrobras (PBR) board approved the Brazilian state-run oil firm's participation in a new subsidy program for diesel producers and importers, the company said over the weekend.
The subsidy, worth 1.00 real ($0.19) per liter for 30 days, could be extended for another 30 days and is cumulative with an existing subsidy of R$1.12 per liter.
Additionally, the company said it received a R$448 million installment under Brazil's economic subsidy program for gasoline sales. This brings the cumulative amount Petrobras has received under the subsidy programs for diesel fuel, gasoline, and liquid petroleum gas to R$9.9 billion.
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