Petrobras (PETR3; PETR4) will no longer operate in gas distribution and transportation; Petrobras raises gasoline price by 2.5%

Petrobras' Board of Directors approved the update of the company's new strategic plan, valid for the period 2020 to 2024. Under the plan, Petrobras will no longer fully operate in gas distribution and transportation and will also exit the fertilizer, distribution and distribution business. LPG and biodiesel.

The state-owned company, with the implementation of the new strategy, will act competitively in the commercialization of its own gas and will fully exit gas distribution and transportation.

Petrobras President Roberto Castello Branco said the company will be engaged in deepwater oil exploration and production and will be less indebted.

Today (27.09.2019), Petrobras has again raised the price of gasoline in refineries. The new values practiced indicating a 2.5% readjustment compared to the value of the previous day.

Petrobras (PETR4; PETR3) studies creating two new companies for its thermoelectric plants and transportation to make IPOs on Bovespa (B3); for Goldman Sachs, Petrobras presented "positive news about pre-salt cost efficiency"

According to Jornal do Comércio, Petrobras intends to create two new companies to enable the sale of part of its transportation and energy assets. The information was given by directors of the state and the president Roberto Castello Branco in a meeting with market analysts. 

The strategy is that these companies group several assets to be offered in the stock market through an IPO similar to that made with BR Distribuidora (BRDT3), which generated almost R $ 9.6 billion.

Goldman Sachs analysts published a report following a meeting with Petrobras President and Chief Financial Officer Andrea Almeida highlighting “positive news about pre-salt cost efficiency”. For them, the Brazilian state managed to achieve, in the most recently developed platforms, an extraction cost as low as $ 4 per barrel, or 33% below the pre-salt average in the second quarter of 2019.