Petrobras’ Board of Directors will hold a meeting this Wednesday (26) and may discuss changes in the company’s pricing policy, which follows the fluctuation of values negotiated in the international market. Sources heard by CNN confirmed the meeting and the possibility of the agenda to include changes in the PPI – International Parity Policy.
An executive involved in the management of Petrobras told CNN that “anything [que seja discutida] on the PPI is to strengthen, not weaken” the fuel price adjustment mechanism. The source points out that there is still no closed proposal for this change, but signaled that the collegiate can take advantage of the last weeks of the current composition before the Extraordinary General Meeting of shareholders scheduled for August 19.
THE CNN , a source stated that the transfer of the decision on fuel prices to the Board of Directors would not be under discussion, since this is not their role, but that of Petrobras’ board. The same source points out that in any company, the collegiate does not act as a manager of the business, it collaborates in strategic, longer-term decisions, such as investment policy.
The government wants to exchange executives who were appointed by the former Minister of Mines and Energy, Bento Albuquerque, fired in May by President Bolsonaro. Two of the eight names nominated by the government were vetoed by the People’s Committee and by the current State-owned company’s Board, for failing to comply with the State-owned Companies Law and the company’s statute.
Even so, the MME did not give up on signing Jônathas Castro, current executive secretary of the Civil House and Ricardo Soriano, attorney general of the National Treasury, and will keep both on the list that will be evaluated by shareholders at the AGE.
At the last meeting, in April this year, the councilors representing minority shareholders suggested changes to Petrobras’ statute to strengthen governance and increase the shield against political interference in the management of the oil company. The AGE had been convened to approve the third change in the presidency of the state-owned company and appoint José Mauro Ferreira Coelho to the position of CEO, replacing General Joaquim Silva e Luna.
Forty days later, Ferreira Coelho was fired by Bolsonaro and replaced by Caio Paes de Andrade, former secretary of the Ministry of Economy. Paes de Andrade is also pending final shareholder approval at the AGM on August 19 to be confirmed as director and CEO of Petrobras.
Source: CNN Brasil
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