After Petrobras Announces Its Definitive Exit From BR Distribuidora, Company Claims to Be Eyeing Renewable Energies

Written by Valdemar Medeiros

Published on 07/07/2021 at 12:26

Updated on 07/07/2021 at 22:57

Usina de energia solar – créditos: Absolar

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BR Distribuidora, Shortly After Petrobras’ Exit, Claims It Is Preparing to Enter the Renewable Energy Market and, According to Analysts, the Oil Company’s Departure Will Bring BR a New Journey

Currently, a company with its capital completely scattered on the Stock Exchange, after Petrobras has just sold its entire stake, BR Distribuidora is preparing to enter the renewable energy market, according to the words of the company’s president, Wilson Ferreira Júnior, who has led the company since March, after leaving the state-owned Eletrobras.

BR Distribuidora Will Be a Renewable Energy and Fuels Company

According to Ferreira, BR Distribuidora will not only be a fuel company. The company has just completed the stock offering in which Petrobras sold a 37.5% stake for R$ 11.4 billion.

Furthermore, according to the executive, throughout Petrobras’ exit process, investors sought information about the company’s short-term plans, which include expanding fuel logistics and the lubricant factory.

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BR in the Distribution Market

According to the latest supply bulletin from the National Agency of Petroleum, Natural Gas and Biofuels (ANP), BR Distribuidora has approximately 23% market share in distribution, one of the most competitive in Brazil.

For Ferreira, although the data indicates that companies are competing for first place, the company currently has the lowest cost in the sector and low debt, being prepared to access the market if necessary.

In the energy transition scenario, the executive states that the company must be well-positioned in electricity first and in LNG second. The relationship with Petrobras, which currently is limited to the commercial sphere, remains positive, with BR being the largest buyer from the state-owned company.

The New Strategy of BR Distribuidora

BR has hired the consulting firm BCG to conduct a study on the company that Ferreira took over a few months ago. The study will assist in the strategic review and is expected to be completed within a month and a half.

According to the executive, there are some points in this process that need to be worked on immediately, aiming for efficiency gains. One of the noticeable points is the 1,200 convenience stores of the company, which currently do not add any gains for the company that is transitioning to renewable energy.

According to Ferreira, the shift is already underway with the recent partnership established with Lojas Americanas and the opening of an additional thousand stores. According to analysts at UBS, BR is starting a new chapter after Petrobras’ divestment.

After Petrobras Announces Its Definitive Exit From BR Distribuidora, Company Claims to Be Eyeing Renewable Energies

BR Distribuidora, Shortly After Petrobras’ Exit, Claims It Is Preparing to Enter the Renewable Energy Market and, According to Analysts, the Oil Company’s Departure Will Bring BR a New Journey

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After Petrobras Announces Its Definitive Exit From BR Distribuidora, Company Claims to Be Eyeing Renewable Energies

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