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Petrobras Board approves strategic plan without “hobby horse”

Petrobras’ Board of Directors approved the strategic plan with the company’s guidelines for the next five years: 2023 to 2027. The document does not bring any very significant changes in the company’s guidelines.

On the contrary, it provides for the maintenance of the dividend distribution policy for shareholders, which has already been heavily criticized by members of the transition team of the future federal government.

THE CNN learned from sources who participated in the construction of the plan and the meeting that the company’s strategic lines and pillars defended by the current management will remain in force until at least the new government changes the directors, president and directors and promotes a change in the company’s current tune .

This includes not only the distribution of a good part of the profits to shareholders, but also the refinery sale plan and the current control and transparency mechanisms.

During the long meeting of the Board of Directors, which ended shortly after 7 pm, many questions were asked from both sides, both those who defended a greater distribution of money to those who hold shares in the company, and those who defended more caution and the risks of this policy. current policy of not promoting investments considered significant.

One of the criticisms was the value of just over US$ 3 billion for the ‘decarbonization plan’, aiming at clean, renewable and sustainable energies. There is a fear on the part of the directors that environmental issues play a secondary role with a small portion of investment close to the amount of resources that work in the company.

Despite the questions, the plan was approved by the directors and will be presented this Thursday (1st) to the shareholders. A fact relevant to the market should be released this Wednesday (30) informing of the decision.

The future government of Lula (PT) must face bureaucratic obstacles and will need to face internal obstacles in order to change the course of Petrobras. Is that the recent changes to the company’s internal rules precisely provide for a long and thorough process for the exchange of directors and directors, which is why Petrobras’ management under Bolsonaro (PL) was unable to make significant changes in the basic guidelines of the state-owned company.

Source: CNN Brasil

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