NEW HRT IS UNDER NELSON TANURE´S MANAGEMENT Brazil, Rio de Janeiro - The Extraordinary General Meeting (EGM) of HRT, held today, consolidated the new power structure of the company, now under the command of businessman Nelson Tanure. The shareholders confirmed the appointment of new members of the Board of Directors appointed by JG Petrochem, of Tanure, owner of 19.25% of the oil. The chairman of HRT is Helio Costa, former Communications minister under Lula´s government.
The EGM was convened to elect members of councils and tax administration, which, since the end of last year, had only four members after the collective resignation of six members. Besides Helio Costa, the Board of Directors shall consist of HRT Haroldo Lima, former director general of the ANP (Brazilian National Petroleum Agency), Vinicius Carrasco, Ronaldo Carvalho, Peter Grossi, Elia Shikongo and William Connell Steers.
The new HRT will aim to be a company's exploration and production in mature fields. In the Solimões Basin (AM), the company will have as majority shareholder Russian Rosneft, the largest oil company in the world. HRT should also seek partners for its operation in Namibia, which has ten blocks.
After a long period of uncertainty about the future of the HRT, the changes in the company begin to reflect the market. In recent weeks, the oil has been identified by analysts as a good investment option, given the prospect of a viable plan of expansion and a more austere management, as reflections of alignment between the Board of Directors and executive management. In the market, it is speculated even about changing the headquarters - now the company is located in one of the most luxurious buildings bordering the Rio de Janeiro.
Tanure´s goal is cutting more than 30% of current costs and double HRT´s revenue in twelve months. The new company's shareholders plan to focus on mature oil fields, especially those that large companies such as Petrobras and Chevron, have no more interest because of the scale. Thus, it is possible that, in late 2015, the HRT achieve a turnover of around US $ 1 billion and a daily production of 20 thousand barrels per day.
Paulo Roberto Cunha
Black Gold Blog