Brazilian President Zaich Bolsonaro on Monday fired the CEO of the public oil group Petrobras, Joaquim Silva e Luna, who was targeted for announcing large increases in fuel prices before the fuel prices.
His dismissal, announced in advance by Brazilian media, was confirmed last night by the Ministry of Mines, Mines and Energy, which suggested that he be succeeded by economist Adriano Pires at the helm of Petrobras.
His appointment is expected to be confirmed on April 13 by the board of the public company, the ministry clarified. He added that he proposed naming Hondolfo Ladim, a businessman, the new chairman of the company’s Board of Directors. Mr Ladim, who has worked for Petrobras for over twenty years, is currently the president of Flamengo, Brazil’s most popular football team.
Retired General Silva e Luna, a former defense minister, was named chief executive officer in February 2021. Hubert’s predecessor, Castelo Branco, a respected economist, was also relieved of his duties by a decree of the current president. from increases in fuel prices.
In early March, Petrobras announced an increase of 18.8% in the price of gasoline and 24.9% in diesel from its refineries, due to the turmoil in international markets caused by the war in Ukraine and sanctions against Russia.
The increase has been sharply criticized by Mr Bolsonaro, who is trying to stem the rise in inflation seven months before his run-off presidential election, although opinion polls suggest he will lose by a margin over his predecessor, Luis Inacio Lula de Silva.
The far-right head of state said on March 10 that Petrobras’s policy of aligning its prices with international ones “can not continue”.
The share of the Brazilian public oil company closed yesterday with a big drop (-2.63%) in the stock market in Sao Paulo.
SOURCE: AMPE
Source: Capital
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