Business

Petrobras new plan shrugs at alternative energy sources

Petrobras new plan shrugs at alternative energy sources

Brazil’s state-owned oil and gas company Petrobras has approved a revision of its strategic plan for the near future—including a new voluntary redundancy program. Besides leaving the company, the plan will give workers the option of being relocated to Petrobras’ subsidiary companies. This new strategy is part of Petrobras’ divestment program, and is considered crucial to generate value for shareholders, something that has been stressed by CEO Roberto Castello Branco. The company’s vision has been amended, now being “to become the best energy company in shareholder value, focusing on oil and gas with safety, respect for people and the environment.”

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