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Is Petrobras Broken? Learn What Are the Myths and Truths About This and Many Other Claims According to AEPET
The so-called “myths” of Petrobras being broken are fueled by the legend of threatening indebtedness that the Petrobras Engineers Association (AEPET) has unveiled (in their view), the “horrible creature” of indebtedness would have been fostered by bad investments and corruption.
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Another extremely important issue to highlight would be the high unemployment rate, massive disinvestment in Petrobras and the sale of key assets that were once considered Brazil’s wealth, according to AEPET.
“The probability of bankruptcy is based on an algorithm created by Macroaxis and can be used by auditors, accountants, financial managers, financial consultants, as well as traders to assess the unsystematic risk of a stock, fund, or ETF,” says the company.
Strategies Adopted by Petrobras Are Questionable and Antinational, Says AEPET
According to AEPET, having privatization as a leverage objective is unnecessary, even being a crime that harms the Brazilian economy, favoring foreign interests.
“Petrobras has pre-salt that can even be used as a promising project, as the company is fully aware that the project has always been coveted by multinationals. Petrobras has blocked the expansion of pre-salt to a certain extent, as the oil company reduced its business plan between 2019 and 2023 to below 1.5 in 2020, which holds back the average investment to 16.8 billion dollars annually, three times lower than the average investment made between 2009 and 2014, which was 48.7 billion per year, in dollars adjusted for 2018.”
The Limitation of Investment Has as an Ideological Pillar the Myth of Petrobras Being Broken
According to AEPET, the myth of Petrobras being broken is sustained by a limitation from the state-owned company itself, as it has limited investments and started transferring opportunities that were previously for Brazilians to foreign companies, selling assets to cover its debts.
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