Jean Paul Prates Goes to the Senate to Reintegrate Natural Resources to the Country

The Petrobras Chairman, Jean Paul Prates, Met with Members of the Federal Senate in Brasília (DF) for the Parliamentary Front Meeting on Reintegration of Natural Resources and Energy. 

In his speech, Jean Paul Prates praised the initiative and wished good luck for the coming year. He also provided a brief overview of the company’s strategy to the gathered representatives. “Leading Petrobras, I oversee five crucial missions, each demanding in its own way. Firstly, the pre-salt challenge is significant, and we continue to navigate it.

Secondly, we are committed to elevating our status as a prominent Brazilian oil producer to facilitate a just energy transition. Our third priority is to ensure that Petrobras represents and serves Brazil holistically, with all regions providing unique local resources that we intend to leverage,” he said.

The fourth mission cited by Prates is to take care of the company’s employees. “It’s not just about technology, it’s not just about research; the people who make Petrobras very important,” he noted. The fifth point explained by the chairman is to position Petrobras as a global company that competes on equal footing with other companies in the energy sector. In this way, we will bring investments to Brazil. Many companies lack resources in their own country and have an interest in new areas”.

The Parliamentary Front on Natural Resources and Energy currently consists of 27 Senators and 56 Representatives. In the National Congress, it has worked to achieve a secure energy transition, reduce energy poverty, increase investments in the sector, and improve the legal framework that allows for the expansion of clean and renewable energy.

Prates Says Petrobras Stays in Bahia

After a meeting with Petrobras workers and union leaders in Salvador (BA), the president of the oil company, Jean Paul Prates, stated on social media that the company will maintain and resume operations in Bahia. During the Bolsonaro administration, the company’s management sold several businesses in the state. The largest deal involved the Landulpho Alves Refinery (RLAM), now Mataripe Refinery, sold from the Mubadala Fund to Acelen.

Jean Paul Prates received a proposal from the Bahia Oil Workers’ Union (Sindipetro-BA) and the Unified Federation of Oil Workers (FUP) to “rebuild the Petrobras and its subsidiaries” in the state. The document contains recommendations for all operational sectors of the oil company, from exploration and production to biodiesel, through Petrobras Biocombustible (PBIO).

Petrobras still has assets for sale in the state. One of them is the Bahia Terra Pole, which has 28 concessions and associated infrastructure in the Recôncavo and Tucano basins. The pole is in negotiations with PetroRecôncavo and Eneva.

Under Jair Bolsonaro’s (PL) government, Petrobras’ investment amounted to only one-third of the average of the previous four administrations. However, the oil company increased its dividends by 5.8 times between 2019 and 2022 compared to previous administrations.