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    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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Shareholder group asks Petrobras to skip auction of areas near coral reefs

08/26/2021 | 04:52pm EDT

RIO DE JANEIRO, Aug 26 (Reuters) - Anapetro, an association of shareholders in Brazil's Petrobras who are also employees, on Thursday publicly asked the state-run oil company to skip an upcoming auction of an oil area near coral reefs, due to environmental concerns.

In a public letter to company management, Anapetro said 14 of the 92 offshore oil exploration areas due to be auctioned off by the government are located close to ecologically sensitive maritime reserves, including the Fernando de Noronha archipelago and the Abrolhos archipelago, famed for its coral reefs.

The so-called 17th oil bidding round, scheduled for Oct. 7, includes a broad range of areas off the coast of southeastern and northeastern Brazil.

In addition to Petrobras, Chevron Corp, Royal Dutch Shell PLC, TotalEnergies SE, Ecopetrol SA , Karoon Energy Ltd and Murphy Oil Corp have signed up to participate.

"Participating in this auction is reckless, given its judicial and environmental fragility, and also the effective risk to Petrobras' image," said Mario Dal Zot, president of Anapetro and the head of judicial affairs for FUP, Brazil's largest oilworkers' union.

The letter comes the day before an extraordinary shareholders' meeting Petrobras is holding to elect eight board members.

Petrobras, formally known as Petroleo Brasileiro SA, did not immediately respond to a request for comment.

The Abrolhos archipelago has been the subject of environmental concern in the past. Exploration blocks adjacent to the islands received no bids in a separate round in 2019 after federal prosecutors revealed they were looking into the legality of the potential concessions. (Reporting by Marta Nogueira Writing by Gram Slattery Editing by Chris Reese and David Gregorio)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ECOPETROL S.A. -0.69% 2890 End-of-day quote.28.73%
KAROON ENERGY LTD -2.94% 1.65 End-of-day quote.55.66%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS -0.98% 27.18 End-of-day quote.-4.09%
TOTALENERGIES SE -0.94% 43.805 Real-time Quote.24.09%
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Analyst Recommendations on PETRÓLEO BRASILEIRO S.A. - PETROBRAS
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Financials
Sales 2021 422 B 74 725 M 74 725 M
Net income 2021 72 784 M 12 886 M 12 886 M
Net Debt 2021 261 B 46 195 M 46 195 M
P/E ratio 2021 4,34x
Yield 2021 14,4%
Capitalization 360 B 62 632 M 63 718 M
EV / Sales 2021 1,47x
EV / Sales 2022 1,35x
Nbr of Employees 49 050
Free-Float 64,3%
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Number of Analysts 12
Last Close Price 27,18 BRL
Average target price 35,95 BRL
Spread / Average Target 32,3%
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Managers and Directors
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
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