Petrobras predicts gradual recovery of oil
In a virtual interview conducted by Genial Investimentos, Petrobras President Roberto Castello Branco said the company is already planning a gradual recovery in the price of oil over the next five years, until it returns to the level of $50 per barrel. With the improvement in the framework, the company's debts would also fall, from US$ 87 billion to US$ 60 billion.
The president, who yesterday reaffirmed the focus of new investments in the pre-salt, said the board will evaluate which projects will be most viable to happen in the midst of the crisis period. Recalling that the company has already reacted with a $3.5 billion cut in its annual investment, which went from $12 billion to $8.5 billion.
With the work of reviewing the assets, the state expects to define those that generate the most gains on invested capital, which have less risks and, at the same time, are economically viable. "There's a question of capital allocation. What do you prefer: investing in a pre-salt field that can generate a real return of around 15% or invest in a retail (fuel) operation, which gives a return on capital employed from 6% to 7%? Capital is scarce," said Castello Branco
