Brought to you by Quest Offshore & Southern Cone Consultants
(Bloomberg) -- A messy leadership battle at Petrobras, Latin America’s biggest oil producer, is setting the stage for Brazil’s contentious presidential campaign and highlighting the complex tensions between the company’s pursuit of profits and its role as a tool of populist policy. Since the weekend, President Jair Bolsonaro’s choices for chief executive officer and chairman... Continue Reading →
(Reuters) - Brazilian Economy Ministry official Caio Mario Paes de Andrade has emerged as a strong candidate to lead state-run oil company Petrobras (PETR4.SA), after energy consultant Adriano Pires declined the government's nomination, a government official told Reuters on Tuesday. The source, who requested anonymity to comment on private discussions, said Economy Minister Paulo Guedes has... Continue Reading →
(Reuters) - Energy consultant Adriano Pires has backed out of the Brazilian government's nomination for him to take the helm at Petrobras, Brazil's O Globo newspaper reported on Monday, as the latest succession plan at the state-run oil company appears to have fallen apart. Pires' decision came a day after soccer magnate Rodolfo Landim declined... Continue Reading →
(Reuters) - The prosecutor's office at Brazil's federal audit court (TCU) has asked the court to open an investigation into President Jair Bolsonaro's appointment of Adriano Pires as chief executive of state-run oil company Petroleo Brasileiro (PETR4.SA), for a possible conflict of interest. According to a document seen by Reuters and dated March 31, deputy prosecutor... Continue Reading →
(PN) Always very discreet in the traditional press conferences of Petrobras, giving only shorter and more punctual statements, General Joaquim Silva e Luna decided to speak out, now that his departure from the presidency of the state-owned company is more than confirmed. The military man gave several interviews to some of the country's press vehicles,... Continue Reading →
(Reuters) - Petrobras (PETR4.SA) has a strong governance and there is no room for "adventurers" within the firm, said outgoing Chief Executive Joaquim Silva e Luna on Tuesday. During a lecture at the Superior Military Court, in Brasilia, he came out in defense of the state-owned company's price parity policy, which guarantees its profitability in the refining... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes said on Tuesday that a privatisation of oil giant Petrobras was not on the agenda after the government said it would appoint a market-friendly consultant as new chief executive. Speaking to journalists during a visit in Paris, Guedes outlined several planned privatisations, but when asked about the energy... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has tapped a well-known academic and energy consultant as the next head of state-run oil company Petrobras, effectively ending the tenure of current CEO Joaquim Silva e Luna less than a year after he was appointed. In a statement on Monday, Brazil's Mines and Energy Ministry announced the slate... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has moved to replace the chief executive of state-run oil company Petrobras (PETR4.SA), three sources with knowledge of the matter said on Monday, amid renewed tension over the company's fuel pricing policy. A list of board members that Bolsonaro's government drafted for shareholder approval at an April meeting did not... Continue Reading →
(Reuters) A Brazilian Senate committee on Tuesday approved an invitation to Petrobras Chief Executive Joaquim Silva e Luna to explain the state-run oil company's dividend policy, amid surging oil prices. The infrastructure committee also approved another request for a public hearing with oil industry experts. "We have seen successive increases in fuel prices in the... Continue Reading →
Brazil Energy Insight 