petrobrasBrazil’s largest company is without director, In fact, he has until April 13, and the problem is that the executive is leaving because he has given the company the biggest profit. The executive, as well as the chairman of the board of directors who will be replaced, must have an impeccable resume—something that did not prove to be true and kindly declined when presented for positions.
The company involved in these incidents is Petrobras – the PT government was attacked and had to make deals in the United States and former executives returned R$6 billion since 2016., But the company appears to have learned and reorganized itself in terms of management and governance to the extent that its Governance and Compliance Board can infer information about applicants.
This is perhaps the most important fact. This does not mean that it is free from corruption. It means you are attentive. In a normal situation this should be a cause for applause. But it seems clear that the chairman and a good portion of the candidates did not understand that the time for the appointment of a “well-drilling board” had passed., It is clear that the company does not want to be a Brazilian PDVSA.
In March, the company debunked another myth. Which does not refine all the oil it extracts. Refining reached 91% of the park’s total utilization factor (FUT). The average level in 2021 was 83%. Brazil is a strange country. The government is unaware of the global oil crisis and accuses its company of taking action against it. Even if it pockets most of the profits and distributes it with political patrons.
In order to strengthen the implementation of actions to improve the compliance environment, the Governance and Compliance Department was created within Petrobras in 2014.
The Board of Executives is responsible for guiding and promoting the application of governance and compliance norms, guidelines and procedures; Managing compliance and coordinating necessary internal controls, including aspects of fraud and corruption; Monitor developments relating to the Company’s Whistleblower Channel and ensure reporting of identified violations and their consequences to the Executive Board and Petrobras Board of Directors.
Through this, Petrobras launched its Petrobras Corruption Prevention Program (PPPC) – a compliance program that represents a set of measures developed and implemented in an integrated manner aimed at preventing, detecting and correcting the occurrence of moral deviations. , including fraud, corruption and money laundering.
This program is intended for a variety of stakeholders, including senior management, the workforce, customers, suppliers, investors, partners, sponsoring entities, public authorities and all those who are related to and/or represent Petrobras’ interests in its business .
