Petroleiros propose increased state control of Petrobras

The Federação Única dos Petroleiros (FUP) has released 50 proposals aimed at reshaping Brazil’s oil and gas sector and guiding the country’s energy transition. Developed in partnership with the Instituto de Estudos Estratégicos de Petróleo, Gás Natural e Biocombustíveis (Ineep), the platform focuses on energy sovereignty and a just energy transition.

Key demands include strengthening Petrobras’s role as a state-controlled entity and increasing public control over the company. The FUP advocates for the re-nationalization of refineries and a reduction in dividends paid to shareholders. The federation also seeks to restore the requirement for Petrobras to act as the sole operator in the pre-salt sharing regime, a rule originally established by Law 12.351 of 2010 but modified in 2016.

Additionally, the proposals call for a deep reform of the company’s governance system to prioritize long-term public interest and national development over short-term profit maximization for shareholders. The federation suggests revising the company's social statutes and aligning shareholder remuneration with the limits set by the Law of Corporations to ensure the primacy of public interest.