The board of directors elected Paes de Andrade “for the position of president of the company” until April 2023, the company said in a statement. This is the fourth president of the oil company under Bolsonaro’s mandate, which began in January 2019.
Paes de Andrade will replace Joseph Mauro Coelhowho resigned last Monday, before his previous dismissal by the ultra-conservative president became effective, just a month and a half after taking office.
Like its two predecessors, Joaquim Silva e Luna Y Roberto Castello BrancoCoelho was ousted after intense criticism from Bolsonaro of fuel price hikes by Petrobras, which controls the Brazilian market.
The constant increases threaten Bolsonaro’s popularity ahead of the October elections, in which he will seek re-election.
The Eligibility Committee gave the go-ahead last Friday to Paes de Andrade’s candidacy to be appointed by the board as a member of the board of directors and president of the company, in accordance with company regulations.
Paes de Andrade has been a public official since the beginning of the Bolsonaro government, in which he presided over the public information technology company Sepro, between February 2019 and August 2020.
From then until now, He worked as Secretary of Debureaucratization of the Ministry of Economy.
In addition, he was listed as a member of the board of directors of the public companies Pre-Sal Petroleo (PPSA) and the Brazilian Agricultural Research Company (Embrapa).
Following his appointment, the company’s common shares rose 5.98% on the São Paulo Stock Exchange.
Bolsonaro has criticized the “abusive” profit of Petrobras, which bases its price policy on international oil prices, triggered in recent months by the war between Russia and Ukraine.
Days ago, Bolsonaro assured that the new Petrobras board of directors will “study the PPI issue” (import parity price) and, eventually, change it.
The company’s Eligibility Committee consulted Paes de Andrade, who assured in writing that he had “no specific guidance on an alteration of the pricing policy,” according to a committee report.
Bolsonaro accused Petrobras directors days ago of “betrayal of the Brazilian people”and even asked Congress to establish a parliamentary commission to investigate the leaders of the company, after increases this month of 5.18% in the price of gasoline in its refineries and 14.26% in that of diesel.
Fuels in Brazil rose 29.12% in the twelve months to May, fueling inflation of almost 12% in that period.
Source: Ambito
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