Start Now it's official: Petrobras decides to privatize 4 refineries

Now it's official: Petrobras decides to privatize 4 refineries

April 20, 2018 4:30 pm to 4:30 pm
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Petrobras employees promise relentless protests in response to this measure by Pedro Parente, know which refineries are

Petrobras presented to the market a proposal to sell the controlling interest and the operation of four oil refineries, two in the Northeast and two in the South. The proposal was presented by the president of the state-owned company, Pedro Parente, but it still needs to be approved by the Board of Directors and the Executive Board of the oil company. The proposal foresees that the private sector would keep 60% of the shares and Petrobras would keep 40% of the units.

The partnerships would also include 12 land and waterway terminals. In the Northeast, the units that can be privatized are the Abreu e Lima Refinery and Landulpho Alves. In the South, Petrobras wants to transfer the controlling interest in the Presidente Getúlio Vargas Refinery and Alberto Pasqualini. Together, the four refineries have the capacity to process 846,000 barrels per day. In all, the state-owned company has 13 refineries and holds 99% of the country's refining capacity. The president of the state-owned company, Pedro Parente, commented that the sale should start this year and can be completed next year. EBC source.

Oil workers promise protests

Labor unions and Petrobras oil workers are already organizing in an attempt to stop the privatization process. Representatives of the category claim that this maneuver to sell their shareholding power in the form of a partnership is just a way to hand over the company to the private sector and the entire Brazilian treasury through “legal” paths. According to Data Folha, 70% of Brazilians is against privatization, are you included in this percentage?

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