WorldOil Bolsonaro wants to privatize Brazil’s state-owned Petrobras Brazilian President Jair Bolsonaro said Thursday that he wants to privatize Petrobras, the state-controlled oil company that is under political pressure to lower fuel prices. OPEC membership isn’t an option for Brazil, Petrobras CEO says While Brazil’s President Jair Bolsonaro recently welcomed an informal invitation to join OPEC, the boss of the country’s state-controlled energy company isn’t a fan of the idea and said it’s not a possibility right now. Sandvik boosts presence in South America to be closer to customers Sandvik has announced the opening of its South American hub in Rio de Janeiro to better meet the needs of clients, such as Petrobras and service companies. Shell’s $70 billion BG acquisition approved by Brazil regulators Royal Dutch Shell Plc obtained regulatory approval from Brazil to buy BG Group Plc, clearing another antitrust hurdle to completing the $70 billion acquisition.