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Petrobras Closes Overseas Offices to Reduce Expenses

Written by Flavia Marinho
Published on 23/12/2020 at 13:35
Updated on 23/12/2020 at 13:50
petrobras
A atividade comercial da Petrobras será concentrada em três cidades após fechamento de escritório em Londres para enxugar os custos
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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.

“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.

Flavia Marinho

Flavia Marinho is a postgraduate engineer with extensive experience in the onshore and offshore shipbuilding industry. In recent years, she has dedicated herself to writing articles for news websites in the areas of military, security, industry, oil and gas, energy, shipbuilding, geopolitics, jobs, and courses. Contact flaviacamil@gmail.com or WhatsApp +55 21 973996379 for corrections, editorial suggestions, job vacancy postings, or advertising proposals on our portal.

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