Castello Branco Says Petrobras Will Sell Offices Abroad

Currently, Petrobras has 11 units in other countries. This measure is part of the state oil company’s divestment plan.

In a statement made this Tuesday, October 8, Petrobras President Roberto Castello Branco said that the state company will only have six offices abroad by the end of this year. The statement was made during a public hearing at the Mines and Energy Commission of the Chamber of Deputies. “Petrobras headquarters in Salvador, Bahia, was a temple of corruption”, said Castello Branco at the Chamber of Deputies.

The sale of assets is a way to reduce the company’s debts. According to Castello Branco, the divestitures already made, as well as those planned for the future, do not mean a reduction in jobs or the dismantling of the oil company.

Currently, the oil company has 11 units in other countries. This measure is part of Petrobras’ divestment plan.

After the reduction, in addition to Brazil, the state company will still have offices in Bolivia, China, Singapore, the United States, the Netherlands, and England.

The number of offices that the state company has in Brazilian territory is also facing a reduction. Between 2015 and 2019, the oil company went from 72 properties in the country to 38.

As a result, costs allocated to this sector have decreased by 35%. “We are in a process of rationalizing space, which represents savings of R$ 700 million annually,” said Castello Branco.

Divestment

Nowadays, Petrobras is considering selling 183 fields, according to the president of the state company. In addition, Castello Branco stated that production in some northeastern states has become irrelevant. “We are selling these operations to other companies, several Brazilian,” said the president of the state company.

Castello Branco also stated that there are no privatization plans for the state company. “There is no plan to privatize Petrobras, that is a ghost,” he stated.

The company’s leader took the opportunity to remind that the oil company has been making plans for voluntary layoffs for employees in the sectors that are being sold. “We will not leave anyone behind,” said the company’s CEO.

The president of Petrobras also talked about diesel. “We could sell diesel at Venezuelan prices and it wouldn’t solve the truck drivers’ problem. The problem of the truck drivers is that there is a lack of cargo and, with the incentives given in previous governments, there is an excess of trucks on the roads,” he analyzed.

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