Petrobras CEO signs bold new program for refinery sales – 29/01/2019



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SÃO PAULO (Reuters) – Petrobras is determined to divest badets in the Brazilian refining sector, where it has a virtual monopoly, and it is not a matter of restricting the process, whether in terms of buyers or in geographical terms. "

" We do not want to get dragged into a timid program, [como] to sell 60% of the "clusters" [ativos]"said the president of the state corporation, Roberto Castello Branco. "

" The sale of refineries is not only a good thing for Petrobras, we will stop being the address where people knock on the door to complain about the price of gasoline,

According to him, the completion of the transactions will further reduce the questions about the state policy on the price of gasoline, which was the subject of lively Critics after many years strike Orica truckers, last May.

"I do not want to hear this expression:" ah, price policy. "And the price policy of Iphone, beans? … There is no pricing policy we want to have a dynamic market, competition, "he said.

Territorial Insurance

Regarding other divestments, the executive pointed out that there are

"Let's be fast, do a lot of business [acordos] and report that Petrobras is on track, it is on the way to deleveraging [redução do endividamento] optimization of The direction of Petrobras has been facing in recent years to a number of lawsuits that have delayed his attempts to sell badets. "Castello Branco stated that the company had obtained favorable decisions in this regard in 2019 and that the judiciary had understood the challenges ahead. "

" We believe that there is a safe territory to carry out these activities, he said.

Upon a possible specific divestment, Petrobras and the conclusion of the negotiations Lyondellbasell, who could buy the stake of Odebrecht in Braskem, to determine whether it would also sell his stake.

However, the executive said Tuesday that it could yield its stake in the badet. ] According to him, petrochemistry is not in the future projects of society. Since coming to power in January, Castello Branco has emphasized that he would focus on the core badets, namely the exploration and production of oil, located in very deep waters.

An onerous mission

The president of Petrobras reiterated that the company and the government have interest in concluding a renegotiation of the contract, called painful badignment, which yielded to Petrobras in 2010 the right to produce until To 5 billion barrels of oil equivalent in some areas of pre-salt.

At the time, Petrobras was paying 74.8 billion rand to the government. But a renegotiation of the value was expected once the areas declared commercial, until the end of 2014.

"Petrobras and the government have interest in carrying out this negotiation as soon as possible., If that is possible in 30 or 60 days, "he said, without giving a specific deadline.

"Some more controversial points have already been appeased and I think that there is a huge opportunity to go very quickly … and surpluses once auctioned Petrobras is ready to badyze and participate to areas in which he thinks he can take the greatest value. "

(Edition of Marta Nogueira and Roberto Samora)

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