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The Goal Of The Lula Government Is To Ensure The Suspension Of The Sale Of State Assets During The Review Of The National Energy Policy. Petrobras Announced The Request From The Ministry Of Mines And Energy (MME), But Emphasizes That The Decision Will Not Risk The Company’s Interests, Even With Falling Shares.
The Month Of March Begins With Significant Turmoil In The Administration Of The State Oil Company Petrobras. The Company Announced That The Ministry Of Mines And Energy (MME) Of The Lula Government Requested The Suspension Of The Sale Of Its Assets For The Next 90 Days. This Is Another Decision That Will Directly Impact The Company’s Shares And Operations In The Brazilian Market In 2023.
See: Government Asks Petrobras To Suspend Asset Sales
Amid Administrative Issues At The State Company, Petrobras Announces MME Request For The Suspension Of Asset Sales For The Next 90 Days
Petrobras Started 2023 With Major Challenges Faced By The New President Jean Paul Prates. Among These, The Resumption Of Federal Taxes On Fuels And The Rise In Prices Of Products Across The Country Are Highlighted.
Now, The Company Announced Another Decision From The Lula Government That Will Directly Impact Its Operations, The Suspension Of The Sale Of Its Assets.
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The MME Requested The State Company To Halt All Processes For Granting Its Assets For A Period Of 90 Days.
The Objective Is To Keep The Ventures Under The Control Of The State Company During The Ongoing Review Of The National Energy Policy And The Establishment Of A New Composition Of The National Energy Policy Council (CNPE).
Petrobras Stated That The Recommendations Follow The Legal Principles Of The Lula Government, Without Risking The Company’s Internal Interests.
Despite This, The Shares Of The State Oil Company Are Reacting To The News With A Sharp Decline This Wednesday. The Sale Of Assets To Expand The Company’s Production In The Brazilian Pre-Salt Was The Main Strategy In Recent Years.
However, The MME’s New Decision Regarding The Sale Of Assets Has Created A Climate Of Uncertainty About The Investments Made In The Company.
“The Board Of Directors Will Analyze The Ongoing Processes, From The Perspective Of Civil Law And Within The Governance Rules, As Well As Any Commitments Already Made, Their Punitive Clauses And Their Consequences, So That The Governance Instances Can Assess Potential Legal And Economic Risks Arising Therefrom, Observing The Rules Of Confidentiality And Other Applicable Regulatory Standards,” Emphasized The Oil Company.
New MME Request For The Suspension Of Assets Joins The Resumption Of Federal Tax Collection By The Lula Government Impacting The State Company’s Operations
The MME’s Recommendation Regarding The Suspension Of Petrobras’ Assets For The Next Three Months Occurs At A Turbulent Time For The Company.
The Lula Government Decided To Resume The Collection Of Federal Taxes On Fuels Starting This Month Of March, Thus Directly Impacting The Sale Of The Company’s Products.
This Is A Scenario That Threatens The Company’s Major Investors, Given That Its Assets Will Remain Under Its Control During The New Government.
The Decision Of The Current President Regarding The Resumption Of Tax Collection Directly Impacted Fuel Prices Across The National Market. From This Wednesday, Consumers Already Feel The High Prices Of The Products.
Thus, The Suspension Of The Sale Of The Company’s Assets May Be Another Turbulent Decision By The Lula Government And The MME For The Administration Of Petrobras.
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