Petrobras employees (PETR3; PETR4) are forbidden to strike by the Brazilian Superior Labor Court (TST)

The Brazilian Superior Labor Court (TST) upheld Petrobras' injunction preventing oil tankers from going on strike on Monday, 25. The schedule was to stop for four days, arguing that the company is breaching parts of the collective bargaining agreement, of clauses concerning safety at work and the environment and rights granted to contractors, according to the Single Federation of Oilers (FUP).

Meanwhile, Petrobras' largest refinery, Replan, in Paulínia (SP), recorded a 25% increase in oil refining last month, with 1,769,770 cubic meters (m³) processed in October representing the best. performance for the period since 2015.

Petrobras (PETR3; PETR4) announces employee benefit cut

According to Suno Research, Petrobras (PETR3; PETR4) will begin to withdraw benefits and migrate to current labor legislation. This means that the Brazilian state-owned company, faced with the current deadlock in negotiations with the Single Federation of Oil Tankers (FUP), regarding the collective bargaining agreement, decided to go for individual agreements, with some specific benefits. This, of course, greatly weakens workers and will favor the company, which may adopt more aggressive stances in individual negotiations.

Currently, Petrobras and FUP are negotiating in the Superior Labor Court (TST) to try to reach a new collective agreement. According to the FUP, among the points under discussion are the compensation for overtime and co-participation in the health plans of employees.

This stalemate could lead the category to a strike, which could gain greater connotations and hinder the sale of pre-salt oil fields at the so-called mega auction scheduled for November this year. Petrobras, in turn, said in a statement that "it was tireless in seeking a deal", even presenting two new versions of its original proposal.