At Event Held by Fundação Getúlio Vargas (FGV), Prates Affirms That All Petrobras Contracts Will Be Executed and the Company Will Change Course in the Brazilian Natural Gas Market

The President of Petrobras Reinforced the Company’s Commitment to the Current Contracts in the Fuels Segment. Prates Also Stated That the Company Will Compete More and More for Space in the Natural Gas Market in Brazil.

Petrobras is undergoing new changes in the Brazilian natural gas market. During his participation in an event held by the Getúlio Vargas Foundation (FGV), the president of the state-owned company, Jean Paul Prates, reinforced the commitment to expand the company’s operations in the segment. He also stated that the organization will maintain all its contracts, but plans to review past mistakes in the coming years.

In Light of Government Change, Prates Reinforces Petrobras’ Commitment to Current Contracts in the Brazilian Natural Gas Market

The current president of Petrobras in the new Lula Government, Jean Paul Prates continues to ignite significant discussions about the presence and expansion of the company in the Brazilian fuels market.

Since taking office, the executive has been reinforcing his commitment to the company’s presence in state ventures. In addition, Prates disagrees with the project to privatize the organization’s assets, which was initiated during the Bolsonaro Government.

Now, he has brought up the subject again, but this time discussing the Brazilian natural gas market. As president of Petrobras, he reinforced his commitment to the current contracts, stating that all will be fulfilled during his administration.

However, Prates could not help but highlight the change in Government and in the management of the company itself. In light of this scenario, the president stated that the company will fight for every piece of the Brazilian natural gas market, in contrast to the situation seen during the Bolsonaro Government.

He participated in an FGV event for the launch of a report on the gas market and spoke more about the topic. For him, relinquishing markets such as transportation and distribution of natural gas was a mistake on the part of the company.

Now, Prates is considering changing Petrobras’ operational direction in the gas segment during his management, with the support of the new Lula Government.

“What fault does Petrobras have for being efficient in gas extraction? Did it solve anything?” commented the president of the state-owned company, who reinforced the sufficiency of the Brazilian gas market to resolve its own dilemmas.

Prates Criticizes Oil Law and Impacts of ANP’s Decision on the Presence of the State-Owned Company in Natural Gas Contracts in Brazil

In addition to reinforcing his commitment to current contracts in the natural gas market, Prates criticized the oil law, which has been in progress since 1997.

For Prates, the market should naturally resolve the dilemmas regarding natural gas, and the 1997 oil law opened the market but was a statement of incompetence for the National Agency of Petroleum, Natural Gas and Biofuels (ANP), because the agency did not have the necessary tools to promote the intended opening.

According to the executive, the assignment of refusing access to pipelines to Petrobras was one of the reasons why gas did not expand in the country due to the oil law. He added that natural monopolies are regulated by infralegal measures.

Despite the challenges faced by the company, Prates stated that Petrobras plays an important role in the country’s natural gas market and will remain firm in the current scenario.