© Reuters. Petrobras headquarters in Rio de Janeiro 10/16/2019 REUTERS/Sergio Moraes
By Nayara Figueiredo
SAO PAULO (Reuters) – The president of Petrobras (BVMF:), Jean Paul Prates, submitted and approved with the new executive board, sworn in this week, guidelines that will be considered in the company’s strategic planning, as announced this Friday.
The bases of the proposals are in line with the speech defended by the CEO, in compliance with current governance practices, the commitment to value creation and long-term financial sustainability for the company.
The main points highlighted by the company are related to partnerships.
“Strengthen access to markets and seek the global vanguard in the energy transition, through international operations through technological and operational partnerships”, said Petrobras.
The company commented that it will maintain focus on profitable exploration and production assets, with increasing decarbonization of operations and its suppliers.
It will also emphasize adapting and improving the current refining park through efficiency gains and combining renewable raw materials in the development of resilient industrial processes and sustainable products.
“Search for a fair energy transition, in line with similar international companies, primarily through partnerships of technical excellence and social responsibility programs that mitigate the externalities of the company’s operations and foster local production chains”, he also stated among the proposals.
In addition, Petrobras intends to take advantage of Brazil’s different potential as a country of continental dimensions and energy capabilities that favor sustainable development, through the regionalization of the company’s activities based on production chains and local operating units.
There will also be attention to the development, retention and requalification of professionals in order to provide the company with a more inclusive and diverse technical staff qualified to meet the dynamic demands of the market, especially the energy transition.
“The investments necessary to ensure the achievement of these proposals must be financed by operating cash flow, at levels equivalent to similar companies, and preferably through partnerships that allow us to share risks and expertise, and must seek return on investment, reduction of cost of capital, strengthening Petrobras as an integrated energy company, maximizing the company’s value and seeking the development of the Brazilian market,” he added.