Regarding the assets sold by Petrobras, in the last 15 days, at least three nebulous situations have surfaced.
The first was the revelation that the Canadian investment fund Forbes & Manhattan, buyer of Six (shale processing unit, located in Paraná), defaulted on 140 million reais to Petrobras, which led to the cessation of activities. According to journalist Leandro Demori, the main objective of the takeover of Six by the Canadians was to take over an exclusive technology developed by Petrobras – Petrosix – unique in the world, more efficient and ecological for obtaining oil from oil shale. Additionally, the buyer lacked the technician needed to operate the unit and, due to a “generosity” in the contract, subcontracted Petrobras to keep the plant running. It is this service provided by Petrobras and its employees that has been the victim of the defect.
Acelen, a company created by the Arab fund Mubadala, which bought the Landulpho Alves refinery in Mataripe, Bahia, accuses Petrobras of unfair competition, going so far as to sue the Administrative Council of Economic Law (Cade). Since taking over the refinery at the end of 2021, Acelen has charged the most expensive fuel prices in Brazil, penalizing consumers in the northeast who are not served by Petrobras refineries.
In response to Acelen’s accusation, Petrobras Chairman Jean Paul Prates said it was a result of the refinery being isolated and the company was free to buy oil from Petrobras, from other oil producers in Brazil.
The affair of the sale of Polo Potiguar to 3R Petroleum is also the subject of negotiations which are, to say the least, uncertain. The beginning of the sale process took place when Castello Branco was president of Petrobras. Although only completed this year, already under Prates’ leadership, 3R Petroleum now has the same former Petrobras chairman as chairman of its board.
But perhaps BR Distribuidora’s sales contract was the most draconian of them all. There it was signed that the new controllers will have the right to use the name Petrobrás Post (BR) for 25 years! In other words, leaving the precious name of Petrobras at the mercy of exposure over which it has no power to interfere.
Finally, the case of the sale of the majority stake in Eletrobras. Although the Union still holds the largest stake, minority shareholders now hold the majority of seats on the board of directors, leaving the government as a mere spectator.
The question remains: privatization is good for whom?
ENERGY
**Petrobras: “The intention is to reduce the distribution of dividends”
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