Petrobras Is Selling Its Companies and Oil Fields, But Why?

Written by Valdemar Medeiros

Published on 11/10/2020 at 10:06

Updated on 11/10/2020 at 10:25

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Petrobras Initiated The Process Of Selling Some Brazilian Assets In Line With Its Plan To Improve The Company’s Capital Allocation, Concentrating Its Resources More And More In Deep And Ultra-Deep Waters. But What Is The Reason For The Sales?

Petrobras Has Agreed To Sell Its 40% Stake In The LNG Gemini Gas Marketing And Logistics Ltd. To White Martins Gases Industriais Ltda. For An Undisclosed Price. The Sales Contract Includes An Agreement To Settle Corporate Disputes And Arbitration Between The Companies And Adjustments To The Terms Of Gas Sales By Petrobras. The Sale Of The Oil Fields Awaits Approval From Competition Authorities.

Why Is Petrobras Selling Its Oil Fields?

The Sales Of The Companies And Oil Fields Are Part Of The Company’s Efforts To Sell Non-Essential Assets And Focus On The Production Of Its Rich Deep Water Oil Fields Off The Coasts Of São Paulo And Rio De Janeiro.

The Company Is Also Selling Eight Refineries And Last Year Sold Part Of Its Stake In The BR Distribuidora SA Gas Station Operator. Petrobras Still Holds Over 35% Of The Global Company And Gas Stations Spread Across Brazil, Plans To Sell The Remainder Have Been Suspended.

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The Oil Company Seeks To Remain Competitive In The Market

Petrobras Must Follow Specific Legislation Aimed At Keeping Asset Commercialization Competitive, Including With Differentiated Bids. The Sales Are Also Under Scrutiny From Government Entities.

Finally, Petrobras Considered The Low Bids In The Sale Of Its Oil Fields And Is Asking Bidders To Increase The Prices Of The Paraná Refinery. Even If The Federal Supreme Court Approves The Sales, Petrobras Does Not Rule Out Retaining The Assets If The Prices Do Not Meet The Minimum Range Set By Its Internal Technical Team.

Petrobras Is Selling Its Companies and Oil Fields, But Why?

Petrobras Initiated The Process Of Selling Some Brazilian Assets In Line With Its Plan To Improve The Company’s Capital Allocation, Concentrating Its Resources More And More In Deep And Ultra-Deep Waters. But What Is The Reason For The Sales?

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Petrobras Is Selling Its Companies and Oil Fields, But Why?

Petrobras Initiated The Process Of Selling Some Brazilian Assets In Line With Its Plan To Improve The Company’s Capital Allocation, Concentrating Its Resources More And More In Deep And Ultra-Deep Waters. But What Is The Reason For The Sales?

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He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

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