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Petrobras launches Mais Valor program with new financial solutions for suppliers

The pilot started on 11/19 and, starting on the 30th of this month, the tool will be open to companies interested in anticipating invoices with more competitive rates


Petrobras is launching a new program to promote the oil and gas production chain in Brazil. , “Mais Valor”, which also aims to increase competitiveness in the company’s hiring. The initiative seeks to support the sector, hit by the coronavirus pandemic, offering the opportunity for suppliers to anticipate invoices for goods and services already delivered or carried out. 
The new solution will expand companies ’access to working capital operations at more competitive rates with partner banks, using Petrobras’ payment risk (risk drawn). About 10,000 companies that make up the supplier base will be able to join the program.
The director of Finance and Investor Relations at Petrobras, Andrea Marques de Almeida, says that “Mais Valor” opens up a market space that brings together suppliers and the financial sector in the same tool. “We believe that the program will have a positive impact on the cash flow of suppliers who, like the company, are going through the crisis. We are going to monitor adherence, but the volume of transactions has the potential to reach R $ 3 billion per month ”, he estimates.
The director also states that the new program is part of a financial solutions agenda that aims to bring robustness to the supply chain and the construction of productive relationships so that the company can implement its projects in a more agile and economical way. “We are also having talks with financial institutions to evaluate solutions in which these agents can directly provide the most capital-intensive segments, such as platform construction and subsea systems”.
How will it work?
The process will have 100% digital dynamics and will be carried out through the Monkey platform, a startup partner of the program. The supplier registered in the tool will receive an email whenever invoices are available for advance payment. The pilot started on 11/19 and, from the 30th of this month, the tool will be open to other interested companies.
The transactions will take place through a reverse auction, won by the financial institution that bids with the lowest interest rate. The mechanism results in more attractive discount rates for suppliers. The minimum amount of invoices to be advanced will be R $ 1,000.00 and there is no maximum amount. Companies of any size can join the program and there is no niche limitation, only that they are direct suppliers to Petrobras.

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