Brazil’s transition team asks Petrobras CEO to suspend company’s divestment plan

(Reuters) – Brazil’s government-elected transition team asked state-run oil company Petrobras’ (PETR4.SA) Chief Executive, Caio Mario Paes de Andrade, to suspend the company’s divestment plan so they have time to decide which asset sales would go ahead in the coming years, transition team member Mauricio Tolmasquim told Reuters on Monday.

“It would be ideal to suspend everything until the new board of directors takes over,” said Tolmasquim, a member of the group dealing with mines and energy issues.

He said the suspension would give some time to decide which asset sales would go ahead in the coming years.

Company representatives have not said whether they will accept the request, Tolmasquim added.

Petrobras said on its website it was making itself “available” to share the necessary information “for the transition team to conclude a first diagnosis that should support the next management.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: