Petrobras approves new diesel subsidy participation and reports gasoline payment

The board of Petrobras ($PBR) approved participation in a new diesel subsidy paying R$1 per liter for 30 days, with the possibility of a further 30-day extension. The support can be combined with an existing R$1.12-per-liter program. However, signing the participation agreement remains conditional on publication and analysis of the implementing regulation, so board approval does not establish that the new arrangement is already operating.

Separately, Petrobras reported receiving R$448 million under the gasoline subsidy program, bringing cumulative subsidy receipts to R$9.9 billion. That payment relates to an earlier sales period, rather than the newly approved diesel measure. The announcement therefore combines a conditional participation decision with an actual cash receipt under a different existing program; the cumulative total is not a fresh payment.

Sources:

• Reuters — board approval and subsidy structure
• Estadão / UOL — signing condition and gasoline subsidy receipt