At the beginning of the month, the Minister of Mines and Energy, Adolfo Sacheda, He stated that, as a first step at the helm of the portfolio, he will ask the government to conduct studies on the final privatization of Petrobras and Pre-Sal Petróleo SA (PPSA). This Friday (27), President Jair Bolsonaro (PL) I signed a decree that included the PPSA in Partnership Investment Program (PPI).
Bolsonaro replaces Pinto Albuquerque with Adolfo Sacheda at the Ministry of Mines and Energy
The Partnership Investment Program (PPI) is responsible for managing privatization and concession projects. On Monday (30), the Ministry of Municipality and Environment requested the inclusion of Petrobras in the producer price index. For a state-owned company to join the program, it is necessary for the recommendation to be endorsed by the PPI Board and to publish a presidential decree.
In a note, the Ministry of Municipality and Environment stated that “the qualification of Petrobras in the PPI aims to initiate studies to suggest the necessary procedures for the privatization of the company, which will be produced by a ministerial committee that will be created between Ministry of Mines and Energy it’s the The Ministry of Economy“.
The document also says that the proposal comes at a favorable moment due to the “current energy situation”, “the global geopolitical situation”, “discussions about the pace of the energy transition” and “the reorganization of global investments”.
“This process is key to attracting investments to the country and creating a diverse, dynamic and competitive market, which will enhance efficiency gains in the energy sector and create strong job opportunities for Brazilians,” the memo reads.
If Petrobras joins PPI, initially, the program will assess whether privatization of the company is necessary and viable.
Upon completion of the studies, and if privatization is deemed favorable, the PPI Board recommends that the President sign another decree for the company to be included in the Privatization National Program (PND).
After that, the necessary procedures for the privatization itself already begin. In the case of some corporations, by law, it is necessary to pass a bill in Congress.
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