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The Federal Court of Auditors gave Petrobras a deadline for the state-owned company to detail its pricing policy, highlighting audit points on transparency and control.
Petrobras is under the radar of the Federal Court of Auditors (TCU) to report on its fuel pricing policy.
The decision, announced by the Court, gives the state-owned company a period of 120 days to clarify critical points of its commercial strategy, which last year became unlinked from the Import Parity Price (PPI).
The measure, which directly affects consumers' pockets and the fuel market, puts the company in a position to explain in detail how it is structuring its prices and commercial decisions.
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Audit demands and extension of analysis for two years
According to the TCU, an initial audit raised some questions that still have no clear answers about Petrobras' pricing policy.
In response, the Court extended the investigation into the state-owned business practices for more two years to closely monitor its performance.
The measure is seen as an attempt to ensure that the company complies with laws regulating state-owned companies and ensures a transparent pricing policy that is in line with the country's interests.
What is at stake in the TCU's request?
Although the TCU did not point out any illegalities in compliance with the laws governing Petrobras, the audit revealed gaps in transparency and in the adequacy of some internal procedures.
Aroldo Cedraz, the reporting minister of the case, reported that, while some points of Petrobras' strategy appear to be aligned with legal requirements, others still require greater detail to ensure full compliance with the state-owned company's governance and standardization rules.
According to the minister, it is essential that Petrobras clarify and formalize its practices to ensure consumer and market confidence.
Audit seeks to clarify crucial points
To deepen the analysis, the AudPetroleum – a unit specialized in oil, natural gas and mining audits – prepared a list of seven questions for Petrobras, addressing different aspects of the pricing policy.
Among the demands are:
- Alignment of pricing policy with laws that regulate Petrobras as a state-owned company;
- Compliance of the strategy with the company's general orientation;
- Adaptation of pricing policy to standardization rules of internal processes;
- Completeness of the guidelines and criteria that define the strategy of prices;
- Existence of detailed rules for implementing the policy;
- Implementation of the strategy since its adoption;
- Monitoring of execution by the board of directors and administrative council.
These points aim to verify whether the policy adopted during the management of former president Jean Paul Prates, when it was disassociated from the PPI, is being implemented in a clear and structured manner for the company's managers.
Key issues: detail and clarity for managers
Among the seven items listed by the audit, the fourth and fifth points are the most critical. In particular, the lack of formal rules to detail the implementation of the pricing policy raises concerns for the TCU.
This aspect is considered crucial for directors and employees to understand the strategy and thus be able to apply it appropriately.
The lack of these internal standards raises doubts about the clarity and consistency of the adopted policy, opening space for divergent interpretations and possible operational problems.
To comply with the Court's request, Petrobras must formulate, within the stipulated period of 120 days, these internal standards and provide detailed responses to each of the issues raised.
The objective is to ensure that the state-owned company's technical and administrative staff have full understanding and tools to monitor the application of the company's commercial strategy.
Commitment to a national pricing policy
The PPI disengagement policy adopted by Petrobras is part of a campaign promise made by the president Luiz Inácio Lula da Silva, who defended the idea of “Brazilianizing” fuel prices during his run for a third term.
This promise was implemented with the arrival of Jean Paul Prates as president of Petrobras, aiming to reduce the influence of international prices on the domestic market.
With this, the strategy aims to make fuel prices more accessible to Brazilian consumers, especially in times of high global volatility in oil prices.
Next steps and consumer expectations
The TCU's positioning raises expectations about possible changes in the transparency of Petrobras and the predictability of fuel prices.
The company will have to demonstrate to the TCU and the public that its pricing policy is clear, robust and aligned with the laws that regulate state-owned companies.
By demanding more clarity and formalization of rules, the TCU can impact the way Petrobras operates and relates to the market and society.
This requirement for greater transparency represents a significant step towards stricter control over the state-owned company's practices and how these decisions directly affect the Brazilian economy.
Impact on the market and economy
Petrobras finds itself in a decisive position: by adjusting its pricing policy and making it more accessible and transparent, it will be able to positively influence the national market, benefiting consumers and increasing the competitiveness of fuel prices.
The current scenario requires the state-owned company to balance its decisions with transparency and social responsibility, avoiding economic instability and protecting the Brazilian consumer.
Will Petrobras be able to meet the TCU's demands and ensure a pricing policy that is truly aligned with the country's interests? This answer will be decisive for the future of fuels and for the national economy.
