Petrobras discloses strategic plan less than 1 month after Lula’s inauguration; stocks fall

Petrobras discloses strategic plan less than 1 month after Lula’s inauguration; stocks fall

Petrobras presented its strategic plan for the next five years last Thursday (1st).

The company announced that it should make an investment of US$ 70 billion from 2023 to 2027, and also commented that the focus, from now on, will be on oil extraction.

The plan brought no news and was within what was expected in terms of investment and focus, but, on Thursday, Petrobras’ preferred shares fell by just over 4%, while common shares closed down by 3.75%.

That’s because, right after the strategic plan was presented, there was already a perception that it was old and that it should change in less than a month, when the elected government takes over. Speeches by Senator Jean Paul Prates (PT), the name most quoted to assume the presidency of Petrobras, helped to corroborate the perspective.

Soon after, banks issued recommendations to the company.

What remains is that Petrobas, in the Lula government, must have a very different management from that of the current president Jair Bolsonaro (PL). In this Friday’s episode (2), CNN Money goes into the minutiae of the strategic plan.

Presented by Thais Heredia and Priscila Yazbek, the CNN Money it presents a balance of the news subjects that influence markets, finances and the direction of society and the dynamics of power in Brazil and in the world.

*Posted by Tamara Nassif

Source: CNN Brasil