May 16 (Reuters) - Brazilian President Jair Bolsonaro
suggested on Monday he may tinker with state-run company
Petrobras' profit policy, cutting the percentage
distributed to shareholders, as he looks to curb fuel price
hikes ahead of the country's October elections.
In a speech during an event in Sao Paulo, Bolsonaro said
that all the oil companies in the world have reduced their
profit margins during this economic crisis, except for
Earlier, the president said "there is more to come on the
oil issue" and the government is "looking for alternatives."
"We will certainly get involved with Petrobras on these
issues as well. It is not possible for an oil company to have a
30% profit while the others have at most 15%," he said.
Last week, Bolsonaro fired the then Minister of Mines and
Energy, Bento Albuquerque, and replaced him with high-ranking
Economy Ministry official Adolfo Sachsida in another sign of
political turmoil over fuel-price hikes by Petrobras.
A few days earlier, during his weekly live broadcast,
Bolsonaro had urged the company not to raise fuel prices again
and compared its profits to a "rape" of the country.
(Reporting by Lisandra Paraguassu
Editing by Chris Reese and Lisa Shumaker)