Supreme Court Judge Toffoli overturns injunction that makes it difficult to sell Petrobras assets

 

President of the Federal Supreme Court annulled the decision of the Minister Marco Aurélio de Mello that suspended decree edited by Michel Temer

 

January 12, 2019

 

The president of the Federal Supreme Court (STF), minister Dias Toffoli, overturned on Saturday  the decision of Minister Marco Aurélio de Mello that suspended the effects of decree 9,355 / 2018 and made difficult the sale of Petrobras assets. Toffoli adhered to request made by the Federal Attorney General’s Office (AGU), according to information from Agência Brasil.

“I understand that the case constitutes a hypothesis of exceptional concession of the order of suspension, before the imminent threat of breach of public order, in this case, the risk of extremely serious impairment of the activities of the oil sector of the country,” Dias Toffoli said in the decision.

On December 19, Marco Aurélio Mello, suspended the effects of Decree 9.355 / 18, which regulated the sale of Petrobras assets and was the basis, together with the system agreed with the TCU, for the current divestment program. The decision in ADI 5942 complied with a request from the PT.

Participation in rounds

In its allegations to the STF, Petrobras claims that overturning decree 9,355 / 2018 may leave the company out of the 6th pre-salt sharing auction. In the decision, Marco Aurélio determined that the state company follow the provisions of the Bidding Law (13,303 / 16) which, in Petrobras’ view, places the company at a disadvantage in forming consortiums for bidding.

“Consequently, the suspension of Decree 9.355 / 18 implies the immediate loss of Petrobras’ attractiveness to other private agents, since any partners will not have an interest in submitting themselves to the rules of Law 13303/16,” the petition states.

Petrobras.

The company also states that there are concerns regarding the acquisition of goods and services for the current projects, contracted in a consortium. It points out that it has participated in 101 contracts, in which as operator in 66, that represent about 40% of the national production.

“In these operations, it is possible that there is questioning by the partners regarding the possible change of the contracting procedures, in possible disagreement with the already signed partnership agreements, which demonstrates the legal uncertainty already implemented in the business environment by a monocratic decision “, says the oil company.

Source: epbr

 

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