Lease awarded by Petrobras has a term of 25 years, with the possibility of extension. STS08A event – ​​Port of Santos, holds the title of the largest port leasing auction in the last 20 years

Petrobras announced in a material fact to the market that it won yesterday (19/11), the port area called STS08A, in the Port of Santos, for R$ 558,2 million, in an auction promoted by the Ministry of Infrastructure and the National Waterway Transport Agency (Antaq). Currently, Transpetro, a Petrobras group company, already operates the area.

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According to the oil company, the lease of the acquired area of ​​the Port of Santos has a term of 25 years, with the possibility of extension.

The area of ​​the Port of Santos is destined to the movement, storage and distribution of liquid bulk (fuel). The auction criterion was the highest grant amount, with no minimum bid.

STS08A event – ​​Port of Santos, holds the title of the largest port leasing auction in the last 20 years

The STS08A terminal – Port of Santos, has an expected investment of R$ 678,3 million throughout the contract.

The initial plan for the Port of Santos auction was bigger. The government did not receive a proposal for a second liquid terminal area (STS 08) placed in the square, also under the current administration of the Petrobras subsidiary.

Even with this shortcoming, the contest of STS08A carries the title of the largest port lease auction in the last 20 years.

There are almost BRL 700 million in investments in an area of ​​297,3 thousand square meters, with a pipeline connection to the Presidente Bernardes refinery and the Cubatão terminal, through which it connects with the existing refineries in the state of São Paulo.

Petrobras' gross debt of more than 160 billion dollars plummets to 59,6 billion and the state-owned company reaches the target set more than a year in advance!

Petrobras' seemingly unpayable debt: in 2014, expenses reached around US$1,7 billion per quarter; expressive reduction is a demonstration of the financial rebalancing process achieved by the Brazilian oil giant

Petrobras informed the market, in a material fact, last Tuesday (16/11), that it is significantly reducing the amount with interest and charges of its financial debt. Expenses with these loans dropped to US$ 669 million in the 3rd quarter of 2021, a figure approximately 31,1% lower than the US$ 971 million spent in the 3rd quarter of 2020. When comparing the first nine months of 2021 with the same period compared to last year, the reduction obtained was also significant: a drop from approximately US$ 2,8 billion to approximately US$ 2,3 billion, a reduction of 17,9%.

For many, that debt seemed unpayable. Petrobras, however, set as a goal the reduction of its total gross debt (financing and leases) to US$ 60 billion, an amount considered healthy for a company like Petrobras, by the end of 2022. Recently, in the results of the 3rd quarter of 2021, Petrobras reported that it reduced its gross debt to the amount of US$ 59,6 billion, thus reaching the target set more than a year in advance. Read the full story here.