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    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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Petróleo Brasileiro S A Petrobras : Brazil's antitrust body CADE postpones deadlines for Petrobras asset sales

04/28/2021 | 02:29pm EDT

SAO PAULO, April 28 (Reuters) - Brazil's antitrust authority CADE said Wednesday it had postponed deadlines for divestitures by state-controlled oil company Petroleo Brasileiro SA, including its refineries, natural gas pipelines and its stakes in natural gas distribution companies.

Refineries Isaac Sabba, REFAP and Lubnor may be sold by July 31st. The sale of RNEST, SIX and REGAP needs to be concluded by Oct. 30 and REPAR needs to be sold by Dec. 31.

The new deadlines were requested by the company, known as Petrobras, which argued the COVID-19 pandemic delayed the sale processes. CADE agreed on Wednesday to postpone the deadlines.

Brazil's antitrust watchdog also allowed Petrobras to sell its stakes in natural gas distribution companies by June and to finish the divestiture of the residual stake in gas pipeline company NTS by April.

Petrobras had agreed in 2019 to sell its refinery assets as a condition to close a probe on antitrust allegations that it was abusing its dominant business position in the refining market. The company agreed to sell eight refineries, including the fuel transportation infrastructure.

That same year, Petrobras also agreed to divest from natural gas assets, to end separate investigations that alleged anticompetitive behavior. Both agreements intend to bring new players into the markets, currently dominated by the state-controlled company. (Reporting by Tatiana Bautzer Editing by Chris Reese and Nick Zieminski)


© Reuters 2021
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Financials
Sales 2021 370 B 73 105 M 73 105 M
Net income 2021 58 868 M 11 644 M 11 644 M
Net Debt 2021 269 B 53 235 M 53 235 M
P/E ratio 2021 5,88x
Yield 2021 4,58%
Capitalization 383 B 76 680 M 75 814 M
EV / Sales 2021 1,77x
EV / Sales 2022 1,54x
Nbr of Employees 49 050
Free-Float 64,3%
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Technical analysis trends PETRÓLEO BRASILEIRO S.A. - PETROBRAS
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 32,17 BRL
Last Close Price 29,03 BRL
Spread / Highest target 30,9%
Spread / Average Target 10,8%
Spread / Lowest Target -16,3%
EPS Revisions
Managers and Directors
NameTitle
Joaquim Silva e Luna Chief Executive Officer & Director
Rodrigo Araujo Alves Chief Financial Officer
Eduardo Bacellar Leal Ferreira Chairman
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
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