Government formalizes request for Petrobras to be included in the PPI, for eventual privatization

The Ministry of Mines and Energy (MME) formalized on Monday (30), the request, to the Ministry of Economy (ME), to include the Petrobras (PETR4) in the Partnership and Investment Program (PPI) portfolio, the initial step in the process of an eventual privatization of the company.

“Petrobras’ qualification in the PPI aims to start studies to propose the necessary actions for the privatization of the company, which will be produced by an interministerial committee to be established between the Ministry of Mines and Energy and the Ministry of Economy”, informed the MME, in a note.

According to the MME, the proposal is timely at this time given the conditions of the global energy market, “in light of the global geopolitical situation, the discussions on the pace of the energy transition and the global realignment of investments.”

The folder also defends that the process of privatization of Petrobras it is fundamental “to attract investments to the country and to create a plural, dynamic and competitive market, which will promote efficiency gains in the energy sector and a vigorous generation of jobs for Brazilians”.

The MME text does not mention dates or deadlines. Also this Monday, to Record News, the president of the Chamber, Arthur Lira (Progressistas-AL), once again pressured the government to send a bill to Congress to sell part of the Petrobras sharesso that the Union is no longer the company’s majority shareholder.

“We can do this now (privatize Petrobras)? I think not. Due to polarization, due to the need for a specific quorum of more than 308 votes, we will not have conditions now”, declared the deputy. “But we will now be able, if the government commands, to sell part of Petrobras shares, subsidized by a simple majority bill, in the National Congress, and the government will no longer have a majority”, he amended.

The state-owned company confirmed that it had received a letter from the MME, notifying that it had forwarded to the Ministry of Economy a request for the company’s qualification under the Investment Partnerships Program, aiming to start the evaluation studies for the privatization of the company.

Source: Suno