Petrobras: company burns US$ 1 billion per month of cash

According to Petrobras Chief Financial Officer Andrea Marques, the company is burning about $1 billion a month with the current low oil price scenario. "Lower prices and lower demand significantly affect our revenue. We have to adjust our costs to revenues," said the executive at an event with company employees.

The director of refining and natural gas of the state, Anelise Lara, was also present at the online event and highlighted the drop in fuel sales. During the period, the contraction of aviation kerosene consumption (FAV) would be 90%, while diesel has a shrinkage of 30% to 40% and gasoline by 50%.

In addition, Anelise also said that the crisis arising from the covid-19 pandemic reinforces the company's need to sell half of its refining park and spoke of the lack of partners in defending the interests of the sector. "This position is very bad, because it makes our relationship and market share very difficult as a whole. When we talk about some measure today to benefit the refining, it is thought that it will be benefiting a single company. This is very bad for our perpetuity and sustainability… We can't be alone in a segment as relevant as refining. We need partners in the fight for demands that this segment will need to face in the coming years," he said.

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