Brazilian President Jair Bolsonaro may privatise state-owned oil company, Petrobras
Image Credit: The Hindu
Brazilian President Jair Bolsonaro is considering to privatise Petroleo Brasileiro SA (Petrobras), the largest state-owned Brazilian oil company. "I want to privatize Petrobras, yes, I do. I shall see together with the economic team what we can do," the Brazilian President said. The share prices of the company surged by over 1% after the statement by the President. The company has been in the news for several scandals.