Petrobras Continues Disinvestment Processes Despite Ministry’s Request for Suspension

Petrobras’ management has conducted a preliminary study on the ongoing disinvestment processes initiated by the previous government, and they have not found any reason to suspend projects with contracts already signed.

The Ministry of Mines and Energy (MME) had asked Petrobras to suspend the sale of assets for 90 days due to the ongoing reassessment of the National Energy Policy and the establishment of a new composition of the National Council for Energy Policy (CNPE).

Petrobras stated that ongoing processes without signed contracts will be analyzed, while respecting the company’s governance rules and commitments made with government entities, to avoid jeopardizing Petrobras’ interests. In a statement released on the 1st of the month, Petrobras announced that the Board of Directors would analyze the ongoing processes, considering Civil Law and governance rules, as well as any commitments, punitive clauses, and their consequences.

The governance bodies will assess potential legal and economic risks, subject to confidentiality rules and other applicable governing rules. Relevant facts will continue to be disclosed to the market.

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