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The decisions of Petrobras management, led by the current president Roberto Castello Branco, look like aimless ship. The biggest example of this was the cancellation of the tender, announced on Friday night , 25 days before the submission of proposals. The company decided to stop the development of the infrastructure adaptation project of the Monteiro... Continue Reading →
Petrobras and some of its partners see an opportunity to create a spin-off company, with resources from the private sector, to work on the construction of new gas pipelines in the country. The information was revealed by the president of the Brazilian state-owned company, Roberto Castello Branco, during a conference call with investors. As a... Continue Reading →
(Reuters) - Petrobras is in the advanced stages of several major divestments, executives said on Thursday, indicating that the company’s ambitious deleveraging program may quicken after a pause during the worst of the coronavirus outbreak in Brazil. Speaking to analysts following the company's third-quarter results, executives at Petroleo Brasileiro SA PETR4.SA, as the state-run oil firm... Continue Reading →
Sept 18, 2020 Approximately 11,000 employees of Brazilian state-run oil company Petrobras have accepted buyout packages and will leave the firm this year or next, Chief Executive Roberto Castello Branco said during an online event on Thursday. That number, which represents about a quarter of the company's workforce, is a slight increase from the 10,000... Continue Reading →
August 26, 2020 Petróleo Brasileiro S.A. - Petrobras informs that all external events held through digital platforms, in which the Company's CEO, officers or representatives are invited to participate, will be disclosed in the Events Calendar available on the Company's website: (https://www.investidorpetrobras.com.br/resultados-e-comunicados/calendario-de-eventos). The Company will also disclose, in a timely manner, the information that may... Continue Reading →
Jul 30, 2020 Petrobras stated in its financial report that it expects to sign until the first quarter of next year the sale of most of its refineries that are in the process of divesting. In addition, the state company also believes that it may definitively conclude these transactions in 2021. Due to the coronavirus... Continue Reading →
Dear Shareholders, I am glad to be able to tell you that we are running the ship safely through uncharted waters. We are very proud of our team whose talent and professional dedication allowed us to overcome, so far, the enormous challenges faced by our company. The outbreak of a major global health crisis caused... Continue Reading →
July 21st, 2020 In a challenging context, we presented solid operational performance in 2Q20. The preventive measures against COVID-19 demanded a reduction in the number of shifts in our operations, in which we have been working with 50% of the regular staff. In view of this new scenario for the oil and gas industry, we... Continue Reading →
Jul 1, 2020 A much leaner company. This is the goal of the president of Petrobras, Roberto Castello Branco, who this Wednesday stated that the company should reduce the number of employees from the current 46,600 to 30,000. The executive also revealed that the Voluntary Dismissal Plans (PDVs) underway at the state-owned company had the... Continue Reading →
Jun 29, 2020 The oil unions are reacting hard and even with some indignation to the decision of the Petrobras Board of Directors, which, in early June, approved a change in the internal policy of the state-owned company, authorizing the increase of the appointments of outside professionals for the company's high command. The measure raises... Continue Reading →
Brazil Energy Insight 