State contradicts the government’s request to suspend the process for 90 days; opinion was forwarded to the Board of Directors
A Petrobras will continue the process of asset sale, known as disinvestment, that are in the final stretch. The company’s board reported this Friday, the 17th, that it saw no reason to suspend these processes with signed contracts. The opinion was forwarded to the Administrative Council, the highest body of the company. At the beginning of the month, the Ministry of Mines and Energy asked Petrobras to suspend the sale of assets for 90 days in order to reassess the Brazilian energy policy. According to lawyers, even after signing a purchase and sale document for a particular asset, the buyer and debtor still have obligations until the deal is finalized. There is no deadline for the Board to evaluate the opinion of the executive board. The state-owned company has many deals in progress, such as asset sales totaling more than US$ 2 billion. In a note, the Single Federation of Oil Workers stated that the company continues to be led by a Bolsonarist administration that is running out of time to carry out the privatization process of the assets of the Brazilian state-owned company.
*With information from reporter Rodrigo Viga