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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

PETROLEO BRASILEIRO SA PETROBRAS

(PETR4)
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Petroleo Brasileiro Petrobras : S.A. - Formalization of the dismissals in the Exploration and Production Office and Technology and Production Development Office

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01/11/2019 | 06:57am EDT

Rio de Janeiro - Petroleo Brasileiro S.A.Petrobras, following up on the press release of 01/04/2019 and 01/07/2019, informs that its Board of Directors approved the dismissals of Mrs.

Solange da Silva Guedes, on 01/20/2019, from the position of Chief Exploration and Production Executive Officer and Mr. Hugo Repsold Junior, on 01/12/2019, from the position of Chief Technology and Production Development Executive Officer.

Mr. Rafael Salvador Grisolia, Chief Financial and Investor Relations Executive Officer, will hold temporarily the positions of Chief Exploration and Production Executive Officer and of Chief Strategy, Organization and Management System Executive Officer; and Mr. Eberaldo de Almeida Neto, Chief Corporate Affairs Executive Officer, will hold temporarily the position of Chief Technology and Production Development Executive Officer, in addition to the position of Chief Refining and Natural Gas Executive Officer that he has also been holding temporarily. Both cases without prejudice to their other functions, for a period of 90 days or until the Board deliberates on the new Officers for these positions.

The nominees already announced as the new Officers - Anelise Quintao Lara as Chief Refining and Natural Gas Executive Officer, Carlos Alberto Pereira de Oliveira as Chief Exploration and Production Executive Officer, Lauro Cotta as Chief Strategy, Organization and Management System Executive Officer, and Rudimar Andreis Lorenzatto as Chief Technology and Production Development Executive Officer - are following the company's internal corporate governance procedures for analysis by the Nominating, Compensation and Succession Committee and deliberation of the Board of Directors.

The company reiterates its appreciation for the dedication of Ms. Solange da Silva Guedes and Mr. Hugo Repsold Junior in their work at Petrobras.

Contact:

Tel: 55 (21) 3224-1510

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. The forward-looking statements, which address the Company's expected business and financial performance, among other matters, contain words such as 'believe,' 'expect,' 'estimate,' 'anticipate,' 'optimistic,' 'intend,' 'plan,' 'aim,' 'will,' 'may,' 'should,' 'could,' 'would,' 'likely,' and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. There is no assurance that the expected events, trends or results will actually occur. We undertake no obligation to publicly update or revise any forwardlooking statements, whether as a result of new information or future events or for any other reason. The Company's actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of assumptions and factors. These factors include, but are not limited to, the following: (i) failure to comply with laws or regulations, including fraudulent activity, corruption, and bribery; (ii) the outcome of ongoing corruption investigations and any new facts or information that may arise in relation to the 'Lava Jato Operation'; (iii) the effectiveness of the Company's risk management policies and procedures, including operational risk; and (iv) litigation, such as class actions or proceedings brought by governmental and regulatory agencies. A description of other factors can be found in the Company's Annual Report on Form 20-F for the year ended December 31, 2017, and the Company's other filings with the U.S. Securities and Exchange Commission.

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (BRL)
Sales 2019 355 B
EBIT 2019 70 077 M
Net income 2019 29 814 M
Debt 2019 282 B
Yield 2019 2,83%
P/E ratio 2019 11,34
P/E ratio 2020 7,88
EV / Sales 2019 1,84x
EV / Sales 2020 1,53x
Capitalization 372 B
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 31,6  BRL
Spread / Average Target 18%
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Managers
NameTitle
Eduardo Bacellar Leal Ferreira Chairman
Rafael Salvador Grisolia Chief Financial Officer
Roberto Moro Chief Engineering & Technology Officer
Hugo Repsold Chief Technology & Production Development Officer
Segen Farid Estefen Independent Director
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