“No Plan to Privatize Petrobras”, Says its President Castello Branco

The president of the state-owned company also noted that the company has offered resignation incentive plans to employees in areas that are being sold.

RIO DE JANEIRO, BRAZIL - Although the company is undergoing a long divestment process in several areas, the president of Petrobras, Roberto Castello Branco, denied on Tuesday, October 8th, that the company will be privatized.

"There is no plan to privatize Petrobras, that is a fantasy," he said in a public hearing at the Mines and Energy Committee of the Chamber of Deputies.

The president of Petrobras also noted that the company has offered resignation incentive plans . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?