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Petrobras Seeks to Merge 13 Thermoelectric Plants and Raise Up to 30 Billion Dollars

Written by Flavia Marinho
Published on 10/03/2020 at 14:25
Updated on 10/03/2020 at 14:30
Petrobras quer fundir 13 usinas termoelétricas a gás e arrecadar até 30 bilhões de dólares
Petrobras quer fundir 13 usinas termoelétricas a gás e arrecadar até 30 bilhões de dólares
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With the Sale of 13 Power Plants, Petrobras’ Assets Will Gain Market Value. The Company Aims to Raise Between US$ 20 Billion and US$ 30 Billion in the Long Term

Petrobras intends to unify 13 natural gas thermal power plants, to be sold after the energy supply auction scheduled for April 30. Petrobras Sells Onshore Oil Fields in Bahia to Eagle Oil and Gas Exploration

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The goal of the merger is to increase the value of the companies’ assets through these sales. Petrobras aims to raise around 30 billion dollars over a 15-year period. These figures are expected to come from the capital markets.

“This plan aims at a return of resources that the oil company currently lacks to invest in other sectors, such as the pre-salt, for example. With these sales, it continues as a distributor and thus maintains a share of profitability in the market,” analyzed lawyer Thiago Guimarães, a master’s in public policies, with experience in the biofuels market.

The government’s objective with the April auction is to replace a group of oil-fired thermal plants with gas and coal plants. Petrobras has not commented on the intention to merge the auctioned companies into one.

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This Monday (09) started off hectic due to the clash between two giants in the global oil sector, Russia and Saudi Arabia, which triggered a historic drop in oil prices, the largest daily reduction ever recorded since 1991 during the Gulf War.

The Ministry of Mines and Energy (MME) is closely monitoring and evaluating the possible effects that the unfolding of this dispute brings to Brazil.

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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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