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Petrobras’ Commercial Activity Will Be Concentrated in Three Cities After Closing Office in London to Cut Costs
Petrobras reported in a relevant fact, on the morning of this day (12/23), that next year it will streamline its international presence, considering the three main oil markets in the world – Europe, North America, and Asia. Petrobras Wants More Women Leading and Launches Gender Equity Strategic Plan
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To reduce expenses, Petrobras announced that it will concentrate its international commercial operations in the offices in Rotterdam, Netherlands, in Houston, United States, and in Singapore.
Thus, Petrobras’ commercial activities in London, England, will be transferred to Rotterdam. The change will begin in the next quarter and is expected to be completed in the second half of 2021.
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“The initiative aligns with the actions to reduce corporate expenses under the resilience plan”, says the state-owned company. With this measure, the savings from the deactivation of external offices since 2019 will reach US$ 13.5 million per year in 2021.
Of the 18 external offices that Petrobras had at the end of 2018, ten have already been closed, in addition to London. This group includes representations in China, Mexico, Iran, Turkey, and the United States (New York). Due to the divestments in operations already carried out, Petrobras also deactivated offices in Japan, Paraguay, Nigeria, Tanzania, and Libya.
The company still maintains offices in Bolivia, Argentina, Colombia, and Uruguay. In these last three countries, divestment processes are underway, and the trend is that, once concluded, the respective offices will also be deactivated.
Petrobras Offices in Brazil
The concentration of activities and the reduction of office expenses have also been a reality here in Brazil. The 23 administrative buildings that Petrobras occupied in the country two years ago are expected to be reduced to eight in the first quarter of 2021, which implies a cost reduction of up to US$ 30 million next year.
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