Petrobras CEO denies firm privatization
In a statement made today (Feb. 1), Petrobras CEO Pedro Parente said privatizing the state-controlled oil firm is not part of the company's agenda.
In a statement made today (Feb. 1), Petrobras CEO Pedro Parente said privatizing the state-controlled oil firm is not part of the company's agenda. He also said he has no plans to leave his post. He spoke during a lecture directed at investors as part of the 2017 Latin America's Investments Conference, in São Paulo.
“Petrobras is a cherished firm; society is proud of it for its technological development. We're capable of overcoming challenges, reach down into deeper waters, which no one believed was possible. In the context where society doesn't want it, or isn't mature, [privatization] is not part of our agenda,” Parente stated.
No resignation in sight
Parente said there is no time forecast for the resignation of his post, a position he has occupied since May 2016. “As far as I'm concerned, I'm not leaving any time soon. It's a commitment I've made with Petrobras, along with the board of directors and the council, to doing what must be done.”
To his judgment, the financial market has recognized the efforts made through the firm's work plan. He argued that the positive results brought yield to shareholders, both in the price of Petrobras's shares and the investment in fixed income.
Deleveraging
The oil giant set as one of its priorities to reduce the leverage ratio to 2.5x from the current 5.3x by 2018. The original deadline had been 2020.
Another priority is to cut the total number of accidents—both with and without layoffs—by 36%. “We're not meeting our financial target with risks to collaborators or to the environment,” Parente said.
Translated by Fabrício Ferreira
Fonte: Petrobras CEO denies firm privatization
