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The change in Petrobras' presidency may bring changes to the asset divestment plan. Under the command of Jean Paul Prates, the state-owned company also asks Cade to extend the period for privatizing refineries in the country.
Even under a new command, 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 to the Administrative Council for Economic Defense (Cade) in 2022. new presidency of the state-owned company may change the course of the privatization project of the company's refineries during the term of office of the former senator appointed by the Lula government.
Request to extend the period for the sale of Petrobras refineries was made in 2022 and remains in force even with the new presidency of Prates
The new mandate of the Lula government has brought up several 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, provided for in an agreement signed in 2019 with Cade, is still under internal debate.
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Petrobras asked the council to extend the deadlines for the sale of refining assets, to guarantee the privatization of the projects.
The request was made in 2022 and already had the endorsement of the General Superintendence of the body. Now, the extension needs to be analyzed by the Autarchy Court.
The state-owned company's divestment project in its refining assets is highly criticized by the current Lula Government and by the company's president, Jean Paul Prates.
The objective of the new presidential term is to guarantee new investments for the national market, make changes in the price policy and encourage the expansion of refining in Brazil.
Thus, there was an expectation among members of Cade that, given the difficulty in selling some units and the change in thinking in the government and in the direction of the state-owned company, Petrobras could review the terms and set aside the privatization of the refineries.
Despite this, this is still a current discussion in the company's management, since no decision has been taken since Prates' new term.
There were no definitive conversations to move forward or completely paralyze the project to privatize the refineries.
Jean Paul Prates intends to revise the agreement with Cade for the project to privatize the refineries of the state-owned company during his mandate
Since assuming the presidency of the state-owned company, Prates is expected to take some measures to encourage Petrobras' state-owned projects.
Thus, rumors indicate that the president of the oil company intends to debate the topic soon with the company's board and board to make a decision on agreements at Cade.
This is because the request for an extension of deadlines to the board was made in 2022, under the management of former Petrobras president Caio Mario.
In July 2020, Petrobras had already requested a revision of the schedule so that the deadline for signing the purchase and sale contracts occurred until December 31, 2021 and the closing of operations until December 31, 2022.
The request for the year 2022 is the fifth made by the state-owned company regarding the project to privatize the refineries.
With the new management of Prates allied with the Lula Government, it only remains for Cade and Petrobras to wait for the next steps of the asset privatization project.
