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Petrobras regains upper hand on refineries
Brazilian state-controlled oil company Petrobras will no longer have to sell four refineries earmarked for divestment by the previous government, following a ruling by the country’s competition watchdog on Thursday. The decision means Petrobras can retain control of refineries such as Repar in Rio de Janeiro, Refap in Rio Grande do Sul, Regap in Minas Gerais and Rnest in Pernambuco. It managed to avert the sale of a fifth plant, Lubnor, last year. The firm will not have to sell the Bolivia-Brazil gas pipeline either. The agency’s ruling also means the company may be able to buy back some of the refineries that ... (full story)