Petrobras on More Value Program 

Petrobras informs that it has launched the More Value Program (Programa Mais Valor), a new financial solution tool for suppliers. The pilot started last week and, in November 30th, the tool will be opened to companies interested in anticipating invoices with more competitive rates.

The program seeks to stimulate the oil and gas production chain in Brazil, hit by the coronavirus pandemic, offering suppliers the opportunity to anticipate the invoices of goods and services already delivered or performed, in addition to increasing competitiveness in company procurement.

The new solution will increase companies’ access to working capital operations at more competitive rates with partner banks, using Petrobras´ payment risk (drawee risk). Around 10 thousand companies that integrate the supplier base will be able to join the program.

Petrobras CFO, Andrea Marques de Almeida, says that the “More Value” opens a market space that brings together suppliers and the financial sector in the same tool. “We evaluate that the program will have a positive impact on the cash flow of suppliers that, like the company, are going through the crisis. We will follow the adhesion, but the volume of transactions has potential to reach R$ 3 billion per month”, estimates.

The CFO declares yet that the new program is part of a financial solutions agenda which has the purpose of bringing robustness to the supply chain and the construction of productive relationships so that the company can implement its projects in a more agile and economic way. “We are also holding conversations with financial institutions to evaluate solutions in which these agents can directly provide the most capital-intensive segments, such as the construction of platforms and subsea systems”.

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