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Petrobras: a meeting between Lula and Prates put fuel price policies at stake, Jean Prates received this Thursday (26) the green light from the board of directors to head the state-owned company

Written by Bruno Teles
Published 27/01/2023 às 11:55
Jean Paul Prastes
Jean Paul Prastes (Photo/disclosure)

Petrobras (PETR4) now has a new president: Jean Paul Prates, who is critical of the state-owned companies' pricing policy, focusing on pre-salt operations and billionaire dividend distributions - which made investors cheer the nose for his inauguration that took place this Thursday (26). 

A few days before being approved by the board of directors of that company, silverware he even tried to calm the market's nerves, and guaranteed in advance that there would be no intervention in fuel prices. 

Jean Paul Prates is the new president of Petrobras

Via SBT Brazil (26/01/23)

However, he has not yet rectified his statements about the earnings of this state-owned company, which is still the largest dividend payer in the world. 

“A long-term company cannot just extract pre-salt from the bottom of the sea and distribute dividends”, he reaffirmed. Jean Paul Prates earlier this month. 

With all these declarations in tow and still watching the fall of Petrobras shares on B3, Prates met with Lula, at the Planalto Palace. 

Among the topics discussed at the table, according to some sources, were the names that may still be indicated by the Union to the Board of Directors of the State-owned company. 

Moments after the encounter, Jean Paul Prates said, in a video for Petrobras employees, that he defends that the state-owned company is driving the country's growth, that it seeks new frontiers, and even surpasses itself in the production of oil and gas and also commands the energy transition. 

Still about the meeting, President Lula did not say a single word. The two should meet today (27) and Monday (03). 

Whether now or even in the future, both will still have to deal with Petrobras' price policy - not least because, throughout the electoral campaign, Lula repeated several times that he was still going to abolish the price parity model for the reduction of fuel prices in the refineries. 

This Tuesday (24th), before Prates arrived at his new home, Petrobras ended up announcing a new readjustment in its prices.

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Bruno Teles

I talk about technology, innovation, oil and gas. I update daily about opportunities in the Brazilian market. With more than 3.000 articles published in CPG. Agenda suggestion? Send it to brunotelesredator@gmail.com

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