Government decides to change Petrobras

Government decides to change Petrobras The federal government on Monday appointed Adriano Pires to the executive presidency of Petrobras (SA:), replacing retired general Joaquim Silva e Luna, after criticism from President Jair Bolsonaro about rising prices. of fuels.

Pires, PhD in Economics and founding director of the Brazilian Center for Infrastructure (CBIE), is a historical defender of Petrobras’ price parity in relation to international quotations, and has already defended the company’s privatization.

The presentation of the new slate for the council was disclosed in a note by the Ministry of Mines and Energy (MME). Earlier, sources had told Reuters that Luna’s name would not be on the list of nominees, without detailing that the one cited for the presidency would be Pires.

The list of names also presented Rodolfo Landim to preside over the council. The other nominated members are: Sônia Villalobos, Luiz Henrique Caroli, Ruy Schneider, Márcio Weber, Eduardo Karrer and Carlos Eduardo Lessa Brandão

Petrobras confirmed in a material fact on Monday night that it received an official letter from the ministry with two replacements in the nominations for the election of the board.

In the statement, the company reaffirmed the information cited by the MME, among which it highlighted that Pires acted as advisor to the director general of the National Petroleum Agency (2001), and held the positions of Superintendent of Supply (Dec/1998-Aug/1999 ) and Superintendent of Imports and Exports of Petroleum, its Derivatives and Natural Gas of the agency.

The shareholders’ meeting to renew the board is scheduled for April 13.

The exclusion of Luna’s name from the list indicates that he should leave the command of Petrobras, according to the sources, who spoke on condition of anonymity.

The general’s departure from the reserve comes after Bolsonaro criticized the rise of about 25% in the price of diesel announced by Petrobras at the beginning of the month, when he also readjusted the value of gasoline by almost 19%, in the wake of the rise in the international market. .

Questioned in the middle of this month, Bolsonaro said that there was a “possibility” of replacing Luna.

If the exit is effective, he will be the second president of Petrobras to leave the company due to disputes involving fuel prices. In 2021, the then president of state-owned Roberto Castello Branco left under similar conditions.

“Although the decision is the same as the one taken a year ago, when the government decided not to reappoint Castello Branco and appoint General Silva e Luna to the presidency of Petrobras, the consequences of the fact for the actions today took place in a much more contained way”, he said. the active broker.

Petrobras preferred shares reached a low of 30.98 reais after the news, but reduced losses and closed down 2.2%, at 31.60 reais.

“This happens at the time the news was released and the market has been working for weeks with the possibility of the change being executed”, added Ativa.

During Luna’s administration, Petrobras followed the policy of price parity, but avoided passing on increases in the oil market immediately. At the beginning of the month, after a jump in prices due to the war in Ukraine, the company carried out the adjustment, arguing that it was necessary to supply the country, which depends on fuel imports.

The information that Bolsonaro decided to remove Luna from the presidency of the state-owned company was published earlier by the online edition of Veja magazine, which cited energy sector specialist Adriano Pires as the strongest name to replace Luna.

“Pires is recognized by the market as an indication that it would not break with the operational and financial transformations that have been carried out in the company since the middle of the last decade”, opined Ativa.

(Additional reporting by Roberto Samora, André Romani and Nayara Figueiredo; edited by Nayara Figueiredo)

Read also : BRF approves Marfrig’s Marcos Molina as chairman

Was this helpful?

0 / 0

Leave a Reply 0

Your email address will not be published. Required fields are marked *