Indicated for Petrobras is a new attempt at a technical choice, say experts

José Mauro Ferreira Coelho, the name nominated this Wednesday (6th) by the Ministry of Mines and Energy (MME) for the presidency of Petrobras, is in line with attempts at more technical and less political choices for the state-owned company, experts point out.

For Gesner Oliveira, economist and professor at FGV (Fundação Getulio Vargas), the new indications are, once again, technical, and with experience in the public area. “This is someone from the public sector, with a public examination and with experience as a state-owned executive”, he says.

Coelho was secretary of Petroleum, Natural Gas and Biofuels at the Ministry of Mines and Energy. He resigned from the portfolio in October 2021.

In addition to Ferreira Coelho, the ministry also nominated Marcio Andrade Weber for the presidency of Petrobras’ Board of Directors.

Oliveira believes that the new names should not represent a major change in Petrobras’ pricing policy. “However, suspicion persists that possible conflicts between the state-owned company and the presidency of the republic may occur in the future, if there are strong variations in fuel prices”, evaluates the economist.

The chief economist of MB Associados, Sérgio Vale, says that “the outcome” of choosing a name to lead the oil company as being “a very good solution”. “Given the recent impasses and with being able to calm, in the short term, the storm that was brewing over the company’s management”, says Vale.

According to Vale, “military and political issues go out and two people with knowledge of the house come in to deal with Petrobras,” he said.

reactions

In the market, Valor Investimentos specialist Davi Lelis points out that it is difficult to predict how the reaction should be this Thursday (7). “The nomination was announced after the closing of even the futures contracts.”

However, according to Lelis, “if the market, in this Thursday’s trading session, identifies that this exchange shows a scenario of disorganization and lack of pulse in the company’s destiny, it will price this uncertainty with a drop. But if the market likes the name of the new nominee, it may react slightly positively.”

For Gesner Oliveira, with the end of the uncertainty of the nominee, the market should “accept it naturally, reducing noise, uncertainty and speculation”.

The new nominations come after economist Adriano Pires and the current president of Flamengo, Rodolfo Landim, gave up. Both had been announced for the presidency of Petrobras and for the presidency of the Board of Directors, respectively, on March 28.