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Petrobras allocates $ 4.115 billion to cover pension fund deficit

Brazil's state oil company Petrobras announced today that it will spend 12.8 billion reais (about $ 4.115 billion) over the next 18 years to cover the billion dollar deficit. Petros, the pension fund of its workers.

Rio de Janeiro, Sept. 12 (EFE) .- Brazilian state oil company Petrobras announced today that it will spend 12.8 billion reais (about $ 4.115 billion) over the next 18 years to In a statement, Petrobras said that in the first year it plans to disburse 1.4 billion euros. (about US $ 450 million) and will also pay 900 million reais (about US $ 290 million) for BR Distribuidora, a shares in the stock market.

Petrobras affirmed that the deficit is already contemplated in the balance sheets of the company and therefore will have no impact on the result of 2017.

In addition to Petrobras, retirees and employees of the company will also have to pay an extra fee to cover the deficit of the pension fund.

Petros is one of the funds pension fund that has investments investigated in Operation Greenfield, launched a year ago by the Federal Police to find a diversion of pension funds, public banks and state-owned enterprises estimated at a minimum of 8 billion reais ($ 2.57 billion).

In his award-winning testimony to Justice, entrepreneur Joesley Batista, owner of the J & F group, which denounced the payment of bribes to more than a thousand Brazilian politicians and is currently in prison, said that it paid bribes to pension fund managers in return of investments in the companies of its group.

The announcement of the millionaire disbursement of the state-owned company comes at a time when the oil company has, since 2015, carried out an ambitious program of divestment with the aim of ending the serious economic crisis in which it was immersed by the colossal corruption scandal uncovered more than three years ago in its

Through this asset sales plan, Petrobras plans a restructuring to reduce its size and adapt to a negative situation caused by the fall in prices

For the period 2017-2018, the state company expects to sell assets valued at $ 21 billion, which will add up to $ 13.6 billion obtained in the immediately preceding biennium.

Petrobras posted a net profit of 4,765 million reais (about $ 1.5 billion) in the first half of this year, reversing so the losses for 876 million reais (280 million dollars) suffered in the same period of 2016.

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