& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




Eletrobras CEO says capital raise needed, format undetermined



By Luciano Costa / Reuters

Petroleumworld 01 22 2019

Brazil's new government will support state-run utility Centrais Eletricas Brasileiras SA raising capital but whether that is through privatization or another format has not yet been determined, Chief Executive Wilson Ferreira said on Tuesday.

Ferreira told Reuters he has begun to discuss how to capitalize Eletrobras, as the company is known, with Mines and Energy Minister Bento Albuquerque, but not yet with Economy Minister Paulo Guedes or President Jair Bolsonaro.

Ferreira said the capital increase could be done this year.

Among the options are selling assets, outright privatization or issuing new shares that would dilute the stake of the state. The previous government tried that but was not able to get a bill authorizing the operation through Congress last year.

After the new government took office on Jan. 1, Minister Albuquerque said that the capitalization process will go ahead, but he has not given details.

“The decision on how to do this has not been taken yet. What is clear is that the capitalization is necessary, to increase the company's capacity to invest,” Ferreira said.

But he said nothing has been decided on whether to take up the proposal sent to Congress or some other alternative or how much money can be raised from the capitalization.

The Economy Ministry will have to be brought into the discussion, he added.



We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.


Reporting by Luciano Costa; Editing by Christian Plumb and Lisa Shumaker from Reuters.

reuters.com 01 22 2019

Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.