[ad_1]
The president of Petrobras (PETR3; PETR4), Roberto Castello Branco, defended on Thursday 25, again the fuel price policy of the state company, the International Parity Policy (PPI), in the focus of criticism from Jair Bolsonaro. “It is surprising that we pay so much attention to the subject of PPI in the 21st century. Oil is a commodity, it is charged in dollars, there is no escape, ”he said in a conference call about the company’s results.
“The company is still heavily in debt, in dollars; How to reconcile real income? ”Said the executive, adding that if Brazil wants to be a market economy, it must have a market economy. “Prices below the market have negative consequences,” he said.
As he has been arguing, the president of Petrobras once again refuted that fuel in the country is expensive, especially diesel. According to the executive, on the contrary, the amount charged in the domestic market is below the world average.
When highlighting cost cuts in his management, he highlighted the voluntary dismissal plan (PDV), which had the participation of 11 thousand employees, of which 6 thousand have already left the company.
The return to shareholders is still “very poor,” Castello Branco said. According to him, “cash over time should be reduced to improve efficiency in capital allocation.”
Castello Branco concluded his speech, then, by praising the company’s employees. “The company is on an excellent path to be the largest oil company delivering shareholder value,” he said.
In a free course, analyst Pamela Semezzato explains how she managed to extract from the stock market in one month what she earned in a year from her old job. Leave your email to watch for free.
[ad_2]
