December 5, 2022
Petrobras (PETR4) is benefiting the community by taking some time to raise prices, says the manager;  A government company provides an explanation

Petrobras (PETR4) is benefiting the community by taking some time to raise prices, says the manager; A government company provides an explanation

Petrobras (PETR3;PETR4) benefits Brazilian society by taking longer to raise fuel prices, said Friday (14) Executive Director of Exploration and Production, Fernando Borges.

In a live interview on the epbr channel, the CEO emphasized, however, that the company’s pricing policy seeks to follow the values ​​of the international market, while avoiding passing on fluctuations to consumers in Brazil.

“If you look at Brazilian society, we often go through the cut and take a little longer to get past the rise, we benefit Brazilian society,” Borges said.

“How many times have I heard of ‘Where is Petrobras’ contribution?’ As far as possible, it was made within the scope that we work with.”

The executive considered that there is currently a moment of great fluctuations in the global oil market on the same day, and that the company avoids transferring these movements immediately to the local market.

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According to Borg, when looking at the range of variation the company operates in, Petrobras tracks market prices.

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“It is our responsibility to lead the company in respecting market price standards, so as not to cause any disturbance, as the country is dependent on imports, as well as not to cause unnecessary damage to the company.”

In terms of exploration, Burgess stated that the company is looking to the equatorial margin region as a solution to avoid a drop in production. “Today we are looking at projects that will transport oil from 2030 onwards, which is why we are looking at the tropical margin,” he noted.

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In a note to the market this afternoon without mentioning the episode, and only mentioning “the news published in the media regarding adjustments in fuel prices,” Petrobras stated that it maintains its commitment to practicing competitive pricing and equilibrium with the market, at the same time avoiding the immediate passage of external fluctuations and the resulting exchange rate about situational events.

He noted that “Petrobras constantly monitors the markets, which includes, among other measures, daily analysis of our price behavior in relation to international quotes.”

(with Reuters)

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