Brazil will have exclusive investment of Petrobras

Petrobras will focus exclusively on Brazil for the next five years, said the company's Chairman, Pedro Parente, the Bradesco CEO Forum in New York. Investor Panel, Parente said the company was a victim of the car wash, and that his mission now is to regain confidence in the company.

-For the next five years, we're going to stay focused on Brazil-said relative. We're not going to invest outside the country unless you're in a context of strategic partnerships.

The President of Petrobras said the company benefited from the schemes of the Carwash, and he has emphasized in conversations outside the company should not be penalized for that.

It was a gang that was formed, with a small number of executives and a large number of outsiders-said relative. The question is how are we being penalized for being victims of this schema in the Court of the United States.

Asked about how much the company should pay damages in a suit filed by investors in New York, Justice said the Law is on the side of the company.

We had success by bringing the discussion to the Court of appeals. Accepted our case. We are in a phase of hearings. According to our lawyers, we were at that stage. It won't be something 2 or 3 months, it's going to be time consuming, but we have the law on our side. We were victims.

The Executive said that, Petrobras miss some action in court, the company already has provisions reserved for pay. A relative said that he kept the goal to sell $15 billion in assets by the end of 2016 and $19.5 billion over the next two years.

A relative said the company needed to change to have the confidence of investors. Five committees evaluate suppliers before closing a contract, and all companies go through a background check.

We have a Board of Directors in which seven of the ten members are independent.

There were committees who spent more than five years without meeting and now have more than one meeting per month.

In an interview with u.s. network CNBC, Relatives said that the election of Donald Trump for the Presidency will not have direct impact on Brazil. The Executive said that the country does not have close relations of trade with the United States and that the Central Bank has the power to avoid turbulence.

Source: The Globe


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