Brazilian state-run oil firm Petrobras said there have been no changes in plans regarding its stake in Braskem, after being questioned by the petrochemical company about statements given by its CEO to the press last week.
“In relation to the news reported in the media, Petrobras confirms there has been no decision by the executive board or the board of directors regarding the Braskem divestment process,” the company said, according to a statement from Braskem.
All actions regarding Petrobras’ stake in the petrochemical producer “require careful analysis from a portfolio management perspective and must be conducted in compliance with governance practices and the applicable internal procedures,” the state-owned company said.
Last week, Petrobras CEO Jean Paul Prates in an interview to Bloomberg said that the state-owned company was abandoning an “irrational” policy of selling assets to raise capital and that it might expand its stake in Braskem.
