Brazil's Administrative Council for Economic Defense (CADE) is in the 4th revision of the term of cessation of conduct (TCC) of refining, which requires Petrobras to sell 8 of its refineries.
According to counselor Gustavo Augusto Freitas de Lima, the process should be completed in the next 2 to 3 years.
"What are we renegotiating? The timeframe. We are saying at what point Petrobras has to do the teaser [stage of launching the divestiture process]. This timeline is what has been discussed a lot," he said in an interview with Poder360.
The agreement between Petrobras and CADE was signed . . .