Petrobras, the state-controlled Brazilian oil company, is contemplating a return to retail fuel sales. This potential move follows complaints from Brazilian President Luiz Inacio Lula da Silva and Petrobras’ top executive regarding high pump prices. The company previously exited this sector four years ago, resulting in the entity now known as Vibra Energia SA.
According to a source familiar with the matter, Petrobras’ board of directors is scheduled to meet this week to discuss amending the company’s strategic plan. The proposed amendment would include establishing a presence in the retail sector. The source, who preferred to remain anonymous due to the sensitivity of the discussions, indicated that the board will consider options for re-entry.
It remains uncertain whether Petrobras would pursue a full renationalisation of Vibra or opt to acquire a stake in the convenience-store operator and distributor of cooking fuels and other petroleum products. The proposal under consideration for the 2026-2030 strategic plan aims to position Petrobras as a diversified and integrated energy company. Vibra was privatised during the administration of Jair Bolsonaro.
Petrobras is a Brazilian multinational corporation primarily engaged in the exploration, production, refining, transportation, and marketing of oil and gas. The company is one of the largest in Latin America. Petrobras’ media-relations office has declined to comment on the matter at this time.
