The State-Owned Company Act (13,303/16) provides for the legal status of government-owned companies and mixed-capital companies and their subsidiaries within the Federative Republic of Brazil, the states, the Federal District, and the municipalities.
Sanctioned on June 30th, 2016, the Act is a regulatory framework for these companies’ performance and sets procedures and responsibilities for them. As a mixed-capital company, we are part of the companies governed by the State-Owned Company Act, as are all our Brazilian subsidiaries.
One of the main themes introduced by the new legislation is the regulation of hiring, with changes and innovations related to the norms Petrobras currently follows. In this regard,
Act 13,303/16 determines that all contracting must be carried out, as a rule, through public bidding. This means that hiring will be made through bids that will be open to any interested party that can meet the requirements of the bid. This increases supplier participation and transparency of bidding process and public management.
The legislation revokes article 67 of
Law 9.478/97. served as the basis of validity for
Decree 2745/98, which, in turn, approved the Simplified Bidding Procedure Regulation, and
Petrobras Manual for Hiring (MPC)