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A Testimonial That Addresses The Impacts Of Political Decisions On Petrobras And The Economic Consequences For The City Of Macaé.
Sérgio Sacani reported, on the RedCast podcast on 04/03/2025, how political decisions during the PT (Workers’ Party) administration at Petrobras impacted the oil industry and the economy of the city of Macaé. In the episode, which included participation from Arthur do Val, Eng. Léo, Júnior Masters (host), and Sacani himself, episodes of corruption and the process of politicization of the state-owned company were discussed.
In a straightforward, ironic tone filled with facts, Sacani recalled how the PT government — especially during the peak of the Petrolão scandal — devastated the productive chain of oil in the country, affecting thousands of jobs and turning the previously prosperous city of Macaé into a sort of ghost town. Watch in the video below:
Next, you will understand how systemic corruption destroyed the market, expelled foreign companies, bankrupted suppliers, and deeply tarnished the reputation of Brazil’s largest state-owned company: Petrobras.
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The Ascent Of Macaé: From Fishing Village To Princess Of The Atlantic
In the 2000s, Macaé became the national capital of the offshore industry. With the discovery of giant fields like Roncador and Marlim, the city became a stage for billion-dollar investments. Therefore, it began to attract multinationals, suppliers, and technical and operational professionals from all over Brazil.
“I was in Macaé when it became the Princess of the Atlantic”, said Sacani, nostalgically recalling a city that once welcomed more than 5,000 people per day at the bus station, all in search of opportunities generated by oil.
But this prosperity, like everything in Brazil, did not last long.
The Petrolão And The Siege Of Petrobras: Institutionalized Corruption
According to Sacani, everything began to crumble when the federal government, through strategic political appointments, besieged crucial areas of Petrobras, such as the International Directorate, the Exploration and Production Directorate, and the Contracts Directorate.
People “above any suspicion” occupied strategic positions. One of the names mentioned was Nestor Cerveró, who until then was considered an exemplary employee.
This serious profile covered up the scheme, as no one dared to question them. As a result, what should have been a technical management turned into, in practice, a marketplace for billion-dollar deals and bribes.
The Collapse Of The Business Ecosystem: The End Of The Tubes Valley
Sacani described in rich detail what happened to suppliers, especially at the famous Tube Park in Macaé. Companies that manufactured industrial valves, high-pressure piping, and custom components for platforms operated there.
Foreign entrepreneurs simply abandoned their operations, often leaving materials and structures behind. “Everything is still there to this day”, Sacani stated, emphasizing that no one did anything at all to prevent this collapse.
Swedish, Japanese, and American companies left Brazil because they refused to pay bribes — something they could not justify at their headquarters. “How can I justify a bribe in Sweden? I need an invoice”, reported a representative heard by Sacani.
Corruption made the environment unworkable for any serious company.
Petrobras Technicians: The True Innocents Of The Story
Despite the harsh criticism of Petrobras’s upper management at the time, Sacani made it a point to defend the engineers, geologists, chemists, geophysicists, and other technical professionals.
According to him, these people had no involvement with corruption. On the contrary, many of them felt ashamed of what was happening around them. “They wear the company’s shirt. They know the importance of what they do for the country”, he added.
PDVs, Unemployment, And Brain Drain
With the crisis in place, Petrobras began to offer Voluntary Dismissal Plans (PDV). Thousands of employees left with severance pay and used this money to start businesses such as gas stations, convenience stores, and hotels.
The exodus of skilled professionals was inevitable. As a result, the state-owned company lost part of its technical strength in this process.
The bleeding was so great that Petrobras itself had to restructure its operations. That’s why it relocated teams from Macaé to Rio de Janeiro, altering all of its internal dynamics and logistics.
A Strategic Company That Became A Laughing Stock
Sacani shared a phrase he heard from a teacher in the past:
“The best business in the world is a well-managed oil company. The second best is a poorly managed oil company. The third is Petrobras.”
The bitter joke reflects a painful reality. While other oil companies around the world were generating record profits, Petrobras was the only one posting losses, mired in debt, scandals, and questionable decisions.
The Bureaucracy And The Disincentive To Science And Innovation
At the end of the video, a deeper reflection arises: how to do science in Brazil if entrepreneurship is sabotaged by bureaucracy and corruption?
The lack of a conducive environment for innovation discourages scientists, investors, and anyone thinking of starting a business. After all, what incentive is there to invest in R&D if there is no way to turn knowledge into business without falling into the clutches of a corrupt system?
Brazil, once again, kills its own chance of becoming a global leader in innovation.
Brazil Wasted A Golden Decade
The testimonial from Sérgio Sacani is not just a critique of the PT or the corruption scandals. More than that, it is a wake-up call about the waste of a historical window of growth.
Brazil, home to one of the largest oil reserves in the world, could be among the major global players today. But, as we have seen, political greed, the politicization of Petrobras, and the destruction of trust pushed away companies, talents, and billions of dollars in investments.
Reconstruction is happening gradually, but the trauma is still fresh — especially for those who experienced it from within, like Sacani.
And you? Do you think Petrobras should remain state-owned or do you believe that privatization is the only way to shield the company from political interests?
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