Petrobras (PETR4) rules out lowering prices to help airlines

Petrobras (PETR4) rules out lowering prices to help airlines
Petrobras (PETR4) rules out lowering prices to help airlines

The president of Petrobras (PETR4), Jean Paul Prates, stated in an interview with Estadão/Broadcast that the company is willing to collaborate with the debate on the situation of the airline sector in Brazil, but that it will not lower the price with a “pen”. Prates was present at “Deep Dive”, an event held by the state-owned company in New York for foreign investors.

According to the president of Petrobras, The main doubt that intrigues foreign investors today is the risk of interference from the State and the government of the President Lula in the company.

“There were a lot of questions about possible political influence, the fact of living with the government, what it is like, whether we receive direct orders or not. I responded clearly, incisively, expressly, that there is no such thing and that, on the other side, there are people who argue, which are me and the directors”, he pointed out Prates.

“It is natural for people to think that these state-owned companies, not just Petrobras, are types of “longa manus” (order executor), tentacles of the State. Now, we also need to understand that, on the other side, there are managers and people who have to argue the opposite”, adds the manager.

“No more lowering prices”, says Prates about aid to airlines

Prates recalled in the interview that Petrobras was invited to participate in a government aid plan for airlines. For the president of the state-owned company, the Goal (GOLL4) “is one of the calmest companies to work for”, and Latam “has an exclusive contract with Vibrates (VBRR3), her life is also sorted out.”

“Whoever complains is the Blue (BLUE4), which is not part of the Abear (Brazilian Association of Airlines) and uses IATA (International Air Transport Association) as a spokesperson”, he says.

In relation to Petrobras’ collaboration for the AirlinesPrates told Estadão that there will be no change in the fuel price. “No lowering the price. Artificially lowering the price would represent Petrobras subsidizing a sector. To do this, I would have to have a direct order complying with all the procedures and due financial compensation according to the state law“.

“Go to the pen and say let’s now lower the price by 15% QAV because Azul asked, we can’t do it. Even because the airline companies they will make a very significant profit in 2023 compared to the previous year”, Prates added to Estadão.

Petrobras (PETR4) will not take a ‘leap in the dark in renewable energy’, says CEO

O president of Petrobras, Jean Paul Pratestold international investors that the company will not take any leaps in the dark.

The declaration of the president of Petrobras referred to the company’s moment of transition, which for the first time assumed bold goals for generating renewable energy.

According to the presentation made to investors gathered in New York this Wednesday (31), on the second day of the “Deep Dive” (deep dive) from the company in the North American city, Petrobras announced that its onshore wind and solar energy projects could reach 5 gigawatts (GW) in 2028.

“We are an oil company in transition. We are transforming Petrobras gradually, investing in new energy, without giving up oil production from one moment to the next. Regardless of the segments in which we will operate, it is important to highlight that we will invest in profitable assets and in areas that have synergies with the activities that the company already develops, taking advantage of all the technical knowledge that Petrobras already has. We will not take any leaps in the dark”, he said at the presentation on Tuesday (30).

The company will invest US$102 billion over the next five years. It is the biggest investment plan of a Brazilian company.

Petrobras Oil

In Tuesday’s presentation, the company’s Exploration and Production director, Joelson Mendesreiterated that world demand for oil should continue to rise in the coming decades, and that projections by the International Energy Agency (IEA) indicate that Brazil could be responsible for a significant part of this supply – around 5% of the world’s oil volume. oil – in the future.

“The segment of Petrobras E&P has good prospects in the coming years. The total production curve will reach 3.2 million barrels of oil and gas equivalent per day in 2028. With the energy transition, the market must prioritize oils with a lower carbon footprint. Petrobras has a competitive advantage, as its oil is among the most decarbonized in the world”, stated the director.

He informed that new technologies, such as the use of anticorrosive materials, 3D industrial plants and digital twins are bringing more efficiency and will allow even more value generation for Petrobras.

He highlighted the importance of investments in exploration, which will total US$7.5 billion by 2028. In new exploratory frontiers, such as Equatorial Marginthe forecast is to invest US$3.1 billion in exploration by 2028.

Present at the event, the company’s director of Engineering, Technology and Innovation, Carlos Travassosinformed that within the horizon of the 2024-2028+ Strategic Plan, the company will drill more than 350 offshore production development wells, lay more than 8,000 kilometers of pipelines and put 14 FPSOs into operation, 10 of which are already contracted.

The executive also presented Petrobras’ research and development initiatives to investors. By 2028, the company will invest US$3.6 billion in the segment.

The director of Logistics, Commercialization and Markets at Petrobras, Claudio Schlossertold investors that the company is attentive to new consumption patterns and sees a business opportunity in low-carbon products, already having initiatives in this direction on the market, such as Podium Gasoline carbon neutral, the CAP Pro asphalts and the Diesel R5with 5% renewable content.

“A Petrobras is seeking a strong positioning both to meet fossil energy demands and to offer products for the low-carbon market”, highlighted Schlosser.

Performance of Petrobras shares

Price PETR4

Graph generated on: 02/01/2024

1 day

*With information from Estadão Conteúdo

The article is in Portuguese

Tags: Petrobras PETR4 rules lowering prices airlines



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