Petrobras says market depends on current decisions

Petrobras should leave the segments of gas transportation and distribution in Brazil, said on Thursday (27) The President of the state, Roberto Castello Branco, after attending an event in B3 that marked the sale of oil stocks by Caixa.

The comments were made after the government announced this week a plan to end monopolies in the gas sector, largely dominated by the state. Questioned on the subject, Castello Branco said that it is not up to Petrobras to “make public policies”, but he indicated that the company is tuned with the government plan, which fits with the plan of the investment of the oil tanker.

“We will open space, selling companies, leaving the transport, we have already begun to walk with this, selling the NTS (New South East carrier) and TAG (Associated gas carrier)”, highlighted the CEO, in reference to billionaires disinvestments in the area of Pipelines.

“We will deepen the sale of pipelines, we will leave the distribution of gas and other measures that are being discussed with Cade (Administrative Council of Economic Defense),” he added when questioned by journalists.

He commented that the company is very close to an agreement like Cade, but did not want to give details on the subject for confidentiality reasons.

“Petrobras will develop every effort to have a competitive and vibrant market, we are in conversations with Cade, and later know the results,” he commented.

BR and refineries

The executive also commented on items foreseen in the plan of Disinvestments, with which the company expects to raise resources to pay debts and focus on its main activity, exploration and production of oil and gas.

He said that the sale of an additional slice of the Petrobras fuel distribution company, BR Distribuidora, should take place within the shortest possible time.

“We have nothing yet definite, but it (operation) will happen, no doubt. We hope to return to B3 in the shortest possible time, “he said, referring to the sale of the slice in BR, in which the company currently owns a 71.25% stake, after having done at the end of 2017 1 initial offer of shares of the subsidiary that raised about 5 Billion reais.

Within a company plan of selling eight refineries, or 50% of its refining capacity, Castello Branco stated that Petrobras intends to sell at least one refinery later this year.

With regard to the operation for the sale of Liquigás, a distributor of liquefied petroleum gas (LPG) from Petrobras, the executive recalled that the company has already received non-binding offers and highlighted that it has already selected the best.

“We hope to receive the binding proposals in early August,” he said, noting that the company took precautions to limit the participation of companies that already have relevant brands in the distribution of gas in a cylinder.

This is Petrobras ‘ second attempt to sell Liquigás. In 2016, the company reached an agreement to sell the unit to Ultrapar Participações for 2.8 billion reais, but the deal was blocked by Cade.

“We want to give up the monopoly power, but not to transfer the state monopoly to the private monopoly.”

On the operation of the sale of shares by Caixa, he highlighted that it was the largest secondary offer since 2010, moving more than 7 billion reais.

“Good results from the point of view of pricing and contribution to the development of the Brazilian capital market… It increases the liquidity of Petrobras ‘ common Shares, which is good for the behavior of the actions. ” Source: Exam

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