Campaign to explain portfolio management, asset sales and pre-salt has website launched by Petrobras

12/19/2019

Petrobras launched the website New Paths (www.petrobras.com.br/novoscaminhos ), a channel created to explain the strategies and business decisions of the company. In addition to the site, an advertising campaign featuring two television films and Internet plays will invite people to learn more about the portfolio management at Petrobras.

The main message is to explain why the company is managing its portfolio by selling assets such as refineries and onshore and shallow water fields to focus on oil and gas production, especially in the pre-salt, which generates the highest return for the company, its shareholders and society. With this, Petrobras paves the way for a new investment cycle in Brazil. Divestments do not imply discontinuity. On the contrary, they may result in more investment by new buyers and revenue for states, with a positive impact on local economic activity.

On balance, Petrobras’ total investment over the next five years will be U$ 75.7 billion, more than double the forecast for divestments in the period (U$ 20 billion to U$ 30 billion).

“We need to show the positive side of Petrobras portfolio management. By selling these assets, besides inducing competition, the company reduces its debt that is still very high compared to companies in the sector. In addition, it capitalizes on investing in assets such as Campo de Buzios, the world’s largest offshore oil discovery. We are transferring assets where we do not have the resources to invest and giving way to other companies that are eager to invest, ”says Roberto Ardenghy, Petrobras’ Director of Institutional Relations.

Source: Petrobras Agency