{"id":88792,"date":"2024-05-10T15:37:41","date_gmt":"2024-05-10T18:37:41","guid":{"rendered":"https:\/\/murray.adv.br\/?p=88792"},"modified":"2024-05-10T15:37:42","modified_gmt":"2024-05-10T18:37:42","slug":"petrobras-discusses-new-stage-of-share-buybacks","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/","title":{"rendered":"Petrobras discusses new stage of share buybacks"},"content":{"rendered":"\n
S\u00e9rgio Caetano Leite, the oil company\u2019s chief financial and investor relations officer, says that the pilot project involving 157 million shares is 86% complete<\/em><\/strong><\/h6>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

05\/10\/2024 <\/p>\n\n\n\n

\n\n\n
\n
\"S\u00e9rgio<\/figure>\n<\/div>\n\n\n

S\u00e9rgio Caetano Leite \u2014 Foto: Leo Pinheiro\/Valor<\/em><\/p>\n\n\n\n

Petrobras is studying a new stage in its share buyback program, which began last year, S\u00e9rgio Caetano Leite, the company\u2019s chief financial and investor relations officer, told Valor. \u201cAll the big oil companies, the counterparts, do it and treat the buyback as shareholder remuneration,\u201d said Mr. Leite.<\/p>\n\n\n\n

The first step was taken in 2023 and involved a pilot project of around 157 million preferred shares, which is 86% complete, Mr. Leite said. \u201cWe set August as the deadline to finish [the program], and the results are exceptional because, on average, these buyback programs stop at 70%, 75%,\u201d he compared.<\/p>\n\n\n\n

The executive spoke to Valor between appointments at the Offshore Technology Conference (OTC), the oil industry\u2019s main event, in Houston, Texas. Mr. Leite said that the company has enough cash to finance the planned investments, without the need to resort to the financial market. The company recently issued $250 million in bonds abroad to exchange expensive debt for cheaper debt. According to the executive, the company is monitoring the market for similar operations.<\/p>\n\n\n\n

Mr. Leite also said that volatility explains the long period without any change in fuel prices: diesel oil has not been adjusted for more than 100 days, while gasoline has had no change in refineries in the last six months. The volatility, he said, prevents the company from seeing a clearer scenario to define the direction of the prices of oil products. Read below the main excerpts from the interview:<\/p>\n\n\n\n

Valor:<\/strong> Petrobras carried out a share buyback program last year. Does the company have any plans for a new round?<\/em><\/p>\n\n\n\n

S\u00e9rgio Caetano Leite:<\/strong> The body that authorizes the buyback is the board of directors and there is prior governance: we do internal studies, which go through committees. The management team approves [the proposal] and it goes to the board, which approves [the operation]. Share buybacks were included as another form of shareholder remuneration. All the big oil companies, the counterparts, do it and treat the buyback in this way, as shareholder remuneration. We approved this pilot project, around 157 million preferred shares, and we have already surpassed 86% of the total number of shares put up for repurchase. We set August as the deadline to finish [the program], and the results are exceptional because, on average, these buyback programs stop at 70%, 75%. We respond to Brazilian legislation and U.S. legislation, CVM (Securities and Exchange Commission of Brazil) and SEC (U.S. Securities and Exchange Commission). So we had to be careful before starting this program, hence the decision to do the pilot first. One of the characteristics of the buyback program is that if you are going to release any notice of material fact, any press release, anything that could impact the share price, you have to stop the buyback. It takes two or three days to be able to repurchase. Petrobras issues more than two announcements a week. Another characteristic is that if the company\u2019s board of directors learns of something that could affect the share price, even if they haven\u2019t communicated it, they have to stop [the buyback operation].<\/p>\n\n\n\n

Valor:<\/strong> Companies usually buy back shares when they believe they are cheap. Do you agree with this view?<\/em><\/p>\n\n\n\n

Mr. Leite:<\/strong> It\u2019s a sign, but note that in the case of Petrobras, we bought and canceled the shares, we didn\u2019t hold them in treasury to sell again later. That would be legal, but it wasn\u2019t our strategy. Some companies buy back shares and hold them when they see that prices are low. This is not the case, as Petrobras has reduced the number of shares on the market. That\u2019s why it\u2019s considered a form of remuneration. A Petrobras shareholder has two forms of remuneration. One is dividends and the other is appreciation. If I bought a set of shares for R$100, the end of the year comes and they are worth R$150, then we distribute value in the form of earnings in addition to dividends. They are also divided by the number of shares. When you reduce the share base, you can earn on the appreciation and the next dividends will be divided among a smaller number of shares. That\u2019s why it\u2019s considered shareholder remuneration. We are discussing the new phase of the program. The idea is to propose it to the board of directors and, if approved, we will continue to expand the program.<\/p>\n\n\n\n

Valor:<\/strong> Can the discussion about dividends return in the face of higher oil prices?<\/em><\/p>\n\n\n\n

Mr. Leite:<\/strong> We\u2019ve chosen to distribute extraordinary dividends at the end of the year, and there\u2019s a reason for that: it\u2019s because you visualize the full year. You can have good quarters and bad quarters. To be clear, for years we\u2019ve only released extraordinary dividends at the end of the year because we\u2019ve been able to see the full picture. The dividend formula is in place and until someone decides to change the policy\u2014and this decision was not made\u2014it [the current policy] will be applied and the extraordinary dividend will be paid. Of course, if oil prices surge, we generate more cash because we sell abroad at a higher price.<\/p>\n\n\n\n

Valor:<\/strong> Oil prices are volatile. Does this make setting fuel prices opaquer?<\/em><\/p>\n\n\n\n

Mr. Leite:<\/strong> Since we revised our commercial strategy last year, we have maintained and reinforced the objective of not passing on volatility directly to the end customer, for various reasons, including the fact that it\u2019s not good. Brazil runs on diesel. Imagine a truck that leaves home with one price, calculates the freight, the price of fuel changes halfway through, and when it gets there [at the destination] to return it\u2019s another freight price. It makes no sense. And it\u2019s bad for Petrobras\u2019s cash flow predictability. If we sell assuming volatility, you can sell with the price down and lose money, or sell a contract [with the price] up and leave the market, because the competitor starts putting in more product.<\/p>\n\n\n\n

Valor:<\/strong> So what is the strategy?<\/em><\/p>\n\n\n\n

Mr. Leite:<\/strong> The strategy has a variation range and we follow it. As long as it\u2019s in the range, we don\u2019t make any sudden moves. When there is a structural change, that\u2019s the time to make the move. Petrobras always ends up being the target of comments, but what happens is that companies, associations, and operators have no way of calculating Petrobras\u2019s price [exactly]. Petrobras is the most efficient fuel importer on the market because of its infrastructure. We have logistical and competitive advantages. Our policy dictates that we shouldn\u2019t sell below the marginal value and, when Petrobras is at the marginal value, it has a very good margin. We keep observing the market every day, every week. When we have to change, we will.<\/p>\n\n\n\n

Valor:<\/strong> The company used to be the world\u2019s most indebted oil company and today it\u2019s holding its own. Is there room for Petrobras to take on more debt?<\/em><\/p>\n\n\n\n

Mr. Leite:<\/strong>\u00a0At Petrobras, debt is made up of two parts, financial and accounting, which comes from IFRS [International Financial Reporting Standards] rules. Our debt is made up of contracts, such as Floating Production, Storage, and Offloading (FPSO) units, helicopters, all kinds of ships. The financial debt comes from issuing bonds. And 100% of the investments in Petrobras\u2019s strategic plan, those R$500 billion, just over $100 billion, are paid for with cash generation. Petrobras doesn\u2019t raise money for investment. The strategic plan is funded with the company\u2019s own money. Up until now, capital discipline has meant that the company has financed the entire plan with its own cash. Last year, Petrobras won two or three awards with a global bond we issued, for $250 million. A pool of 13 or 14 banks handled the operation. We got low rates, and we were equivalent to AAA [investment grade] companies. The market recognized the quality of the securities and we had overdemand. If we issued twice as much, people would buy it. We haven\u2019t issued since 2020 or 2021. And we did it for several reasons. One was to see how the market was viewing the company. And because the rates were in our favor. It\u2019s important to be in the debt market. We had a financial debt of $28 billion, we issued R$1.25 billion [$250 million] and today we owe $27 billion. In the past, rates were higher, we borrowed R$1.25 billion and used the money to buy bonds. We call this debt curve management. Whenever the market shows a rate mismatch in our favor, when there is an opportunity to lower the debt, we tap the market and buy the old debt. We don\u2019t need to issue to do projects. That\u2019s with our cash reserves, it [the cash flow] gives [space] and there\u2019s leftovers, which you see in the form of dividends.<\/p>\n\n\n\n

*Por F\u00e1bio Couto\u00a0\u2014 Houston<\/p>\n\n\n\n

Source: Valor International<\/p>\n\n\n\n

\nhttps:\/\/valorinternational.globo.com\/\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"

S\u00e9rgio Caetano Leite, the oil company\u2019s chief financial and investor relations officer, says that the pilot project involving 157 million shares is 86% complete 05\/10\/2024 S\u00e9rgio Caetano Leite \u2014 Foto: Leo Pinheiro\/Valor Petrobras is studying a new stage in its share buyback program, which began last year, S\u00e9rgio Caetano Leite, the company\u2019s chief financial and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[25004,12515,25003],"class_list":["post-88792","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-new-stage","tag-petrobras-2","tag-share-buybacks"],"yoast_head":"\nPetrobras discusses new stage of share buybacks - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petrobras discusses new stage of share buybacks - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"S\u00e9rgio Caetano Leite, the oil company\u2019s chief financial and investor relations officer, says that the pilot project involving 157 million shares is 86% complete 05\/10\/2024 S\u00e9rgio Caetano Leite \u2014 Foto: Leo Pinheiro\/Valor Petrobras is studying a new stage in its share buyback program, which began last year, S\u00e9rgio Caetano Leite, the company\u2019s chief financial and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\" \/>\n<meta property=\"og:site_name\" content=\"Murray Advogados\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-10T18:37:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T18:37:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png\" \/>\n<meta name=\"author\" content=\"Gelcy Bueno\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gelcy Bueno\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\"},\"author\":{\"name\":\"Gelcy Bueno\",\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e\"},\"headline\":\"Petrobras discusses new stage of share buybacks\",\"datePublished\":\"2024-05-10T18:37:41+00:00\",\"dateModified\":\"2024-05-10T18:37:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\"},\"wordCount\":1537,\"image\":{\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png\",\"keywords\":[\"new stage\",\"Petrobras\",\"share buybacks\"],\"articleSection\":[\"Murray News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\",\"url\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\",\"name\":\"Petrobras discusses new stage of share buybacks - Murray Advogados\",\"isPartOf\":{\"@id\":\"https:\/\/murray.adv.br\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png\",\"datePublished\":\"2024-05-10T18:37:41+00:00\",\"dateModified\":\"2024-05-10T18:37:42+00:00\",\"author\":{\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e\"},\"breadcrumb\":{\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage\",\"url\":\"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png\",\"contentUrl\":\"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"In\u00edcio\",\"item\":\"https:\/\/murray.adv.br\/en\/home\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Petrobras discusses new stage of share buybacks\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/murray.adv.br\/en\/#website\",\"url\":\"https:\/\/murray.adv.br\/en\/\",\"name\":\"Murray Advogados\",\"description\":\"PLG International Lawyers\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/murray.adv.br\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e\",\"name\":\"Gelcy Bueno\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g\",\"caption\":\"Gelcy Bueno\"},\"url\":\"https:\/\/murray.adv.br\/en\/author\/news\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Petrobras discusses new stage of share buybacks - Murray Advogados","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/","og_locale":"en_US","og_type":"article","og_title":"Petrobras discusses new stage of share buybacks - Murray Advogados","og_description":"S\u00e9rgio Caetano Leite, the oil company\u2019s chief financial and investor relations officer, says that the pilot project involving 157 million shares is 86% complete 05\/10\/2024 S\u00e9rgio Caetano Leite \u2014 Foto: Leo Pinheiro\/Valor Petrobras is studying a new stage in its share buyback program, which began last year, S\u00e9rgio Caetano Leite, the company\u2019s chief financial and […]","og_url":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/","og_site_name":"Murray Advogados","article_published_time":"2024-05-10T18:37:41+00:00","article_modified_time":"2024-05-10T18:37:42+00:00","og_image":[{"url":"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png","type":"","width":"","height":""}],"author":"Gelcy Bueno","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Gelcy Bueno","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#article","isPartOf":{"@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/"},"author":{"name":"Gelcy Bueno","@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e"},"headline":"Petrobras discusses new stage of share buybacks","datePublished":"2024-05-10T18:37:41+00:00","dateModified":"2024-05-10T18:37:42+00:00","mainEntityOfPage":{"@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/"},"wordCount":1537,"image":{"@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage"},"thumbnailUrl":"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png","keywords":["new stage","Petrobras","share buybacks"],"articleSection":["Murray News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/","url":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/","name":"Petrobras discusses new stage of share buybacks - Murray Advogados","isPartOf":{"@id":"https:\/\/murray.adv.br\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage"},"image":{"@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage"},"thumbnailUrl":"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png","datePublished":"2024-05-10T18:37:41+00:00","dateModified":"2024-05-10T18:37:42+00:00","author":{"@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e"},"breadcrumb":{"@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#primaryimage","url":"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png","contentUrl":"https:\/\/s2-valorinternational.glbimg.com\/NTMdwdmXgecvoEy1Mhw6hKMtQG0=\/0x0:1000x892\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2024\/H\/A\/xt3cY5Sfe1Xe3mKpaBSQ\/sergio-caetano-leite-leo-pinheiro-valor.png"},{"@type":"BreadcrumbList","@id":"https:\/\/murray.adv.br\/en\/petrobras-discusses-new-stage-of-share-buybacks\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"In\u00edcio","item":"https:\/\/murray.adv.br\/en\/home\/"},{"@type":"ListItem","position":2,"name":"Petrobras discusses new stage of share buybacks"}]},{"@type":"WebSite","@id":"https:\/\/murray.adv.br\/en\/#website","url":"https:\/\/murray.adv.br\/en\/","name":"Murray Advogados","description":"PLG International Lawyers","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/murray.adv.br\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e","name":"Gelcy Bueno","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g","caption":"Gelcy Bueno"},"url":"https:\/\/murray.adv.br\/en\/author\/news\/"}]}},"_links":{"self":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts\/88792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/comments?post=88792"}],"version-history":[{"count":1,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts\/88792\/revisions"}],"predecessor-version":[{"id":88793,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts\/88792\/revisions\/88793"}],"wp:attachment":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/media?parent=88792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/categories?post=88792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/tags?post=88792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}