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 →
PETROBRAS RE-STRUCTURE WILL LEAVE THE COMPANY WITH A LESS STATE AND MORE PRIVATE CULTURE
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 →
Petrobras expects good news in the short term regarding asset sales, says CEO
May 19/2020 Petrobras expects to announce good news related to the sale of assets, in an important step in the search to reduce the company's debt, the president of the state oil company, Roberto Castello Branco, said on Tuesday in a videoconference transmitted by Safra Bank. The executive, who did not give details about the... Continue Reading →
Petrobras Message from the CEO – 1Q2020 Performance
MESSAGE FROM THE CEO We express our solidarity with the victims of the global pandemic, at the same time as we are deeply grateful to the health professionals who have been standing out as true heroes in the war against the COVID-19 disease. The global pandemic threatens our lives and our livelihood. The main public... Continue Reading →
Oil prices will not return to $ 60 a barrel, says Castello Branco CEO of Petrobras
May 6, 2020 Petrobras President Roberto Castello Branco said on Tuesday that he expects the global economic recovery to proceed slowly after the new coronavirus pandemic. Given this, he does not believe that oil prices will return to the level of $ 60 or $ 70 a barrel. "The adjustment mechanism [of the industry to... Continue Reading →
Petrobras has support from Odebrecht to leave Braskem via the capital markets, says CEO
May 06, 2020 Petrobras obtained support from Odebrecht to transform Braskem into a company with no defined control, thus facilitating a future sale of its stake in the petrochemical company via the capital markets, said the president of the oil company, Roberto Castello Branco on Tuesday. The executive considered, however, that it is necessary to... Continue Reading →
Petrobras CEO on cuts in production and investments
April 3, 2020 Regarding cuts in production and investments, Castello Branco pointed out that even without breaking the OPEC + agreements, worsening the market situation, companies would need to adapt to the new level of demand imposed by the covid-19 pandemic. “I honestly think that this dispute between Russia and Saudi Arabia, although the markets... Continue Reading →
Petrobras to continue selling assets despite coronavirus and price shock
Mar 27, 2020 Petrobras will move ahead with its billion-dollar divestment plan, despite the scenario of falling oil prices and a supply shock, the president of the state oil company, Roberto Castello Branco, said on Thursday in a conference call with analysts and investors. The company has not received indications, so far, that there is... Continue Reading →
Petrobras invites for webcast
March 26, 2020 Petróleo Brasileiro S.A. – Petrobras invites investors and analysts to a webcast to be held today regarding on the measures that are being adopted by the company due to the impacts of the COVID-19 virus outbreak and the oil price shock. The webcast will be in English, with the participation of Petrobras'... Continue Reading →
Global scenario creates uncertainty about Petrobras’ debt target, CEO tells CNN
Mar 16, 2020 The price war between Saudis and Russians in the oil market and the slowdown in the global economy due to the coronavirus generate uncertainties about Petrobras' achievement of its debt reduction targets in 2020, the state company's president told CNN Brasil. The company had as a goal to reach the leverage measured... Continue Reading →
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