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The Change In The Presidency Of Petrobras May Bring Changes To The Divestment Plan For Assets. Under The Command Of Jean Paul Prates, The State-Owned Company Still Requests The Cade For An Extension Of The Privatization Deadline For Refineries In The Country.
Even under new leadership, now from former senator Jean Paul Prates, the request for an extension of the deadline for the sale of Petrobras’ refineries continues. The company had requested the extension from the Administrative Council for Economic Defense (Cade) back in 2022. Now, the new presidency of the state-owned company may change the course of the privatization project for the company’s refineries during the term of the former senator appointed by the Lula government.
Request For Extension Of The Deadline For The Sale Of Petrobras’ Refineries Was Made Back In 2022 And Remains Valid Even With The New Presidency Of Prates
The new term of the Lula government has brought various discussions about the future of Petrobras, now managed by the new president Jean Paul Prates.
However, the issue of the privatization plan for the company’s refineries, outlined in an agreement signed in 2019 with Cade, is still under internal debate.
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Petrobras requested the council for an extension of the deadlines for the sale of refining assets, to ensure the privatization of the ventures.
The request was made back in 2022 and already received approval from the General Superintendence of the agency. Now, the extension needs to be analyzed by the agency’s court.
The state-owned company’s divestment project in its refining assets is heavily criticized by the current Lula government and by the company’s president, Jean Paul Prates.
The goal of the new presidential term is to ensure new investments for the national market, make changes to the pricing policy, and promote the expansion of refining in Brazil.
Thus, there was an expectation among Cade members that, given the difficulty in selling some units and the change in thinking within the government and management of the state-owned company, Petrobras might reconsider the terms and set aside the privatization of the refineries.
Despite this, this discussion remains present in the company’s management, as no decision has been made since Prates’ new term began.
There have been no definitive discussions to proceed or completely halt the privatization project of the refineries.
Jean Paul Prates Aims To Review Agreement With Cade For The Privatization Project Of The State-Owned Company’s Refineries During His Term
Since assuming the presidency of the state-owned company, it is expected that Prates will take some measures to encourage Petrobras’ state projects.
Thus, rumors indicate that the president of the oil company intends to discuss the topic soon with the company’s board and council to make a decision about the agreements with Cade.
This is because the request for an extension of the deadlines to the council was made back in 2022, under the management of former Petrobras president Caio Mario.
In July 2020, Petrobras had already requested a review of the timeline so that the signing of purchase and sale contracts would occur by December 31, 2021, and the closing of operations by December 31, 2022.
The request from 2022 is the fifth made by the state-owned company regarding the privatization project of the refineries.
With the new management of Prates allied with the Lula government, it remains for Cade and Petrobras to await the next steps of the privatization project for the assets.
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