Following a hike in fuel prices, which ousted its previous Chief Executive Officer (CEO) from the office after less than two months in the role, Brazil’s state-owned giant Petrobras has appointed a new director, who will also take over the CEO role at the company. The appointment comes after Petrobras was instructed last month to replace its... Continue Reading →

Petróleo Brasileiro S.A - Petrobras, informs that its Board of Directors, in a meeting held today, by majority vote, nominated Mr. Caio Mário Paes de Andrade as Petrobras' Director until the next General Shareholders' Meeting and elected him as the company's CEO, the latter to hold office until April 13, 2023. Below is an extract... Continue Reading →

(Reuters) - The incoming chief executive of Brazil's state-run oil company Petrobras (PETR4.SA) told a corporate committee he has not received any guidance from the government on changing the firm's fuel pricing policy, a document showed on Saturday. Caio Mario Paes de Andrade, a former economy ministry official appointed by President Jair Bolsonaro to run Petrobras, was... Continue Reading →

Petróleo Brasileiro S.A - Petrobras, following up on the release disclosed today, informs that its Board of Directors will meet extraordinarily, on June 27, 2022, in the morning, to deliberate on the appointment of Mr. Caio Mário Paes de Andrade as a Member of the Board of Directors of Petrobras and his election as President... Continue Reading →

(Reuters) - Brazilian oil giant Petrobras' eligibility committee on Friday gave the go-ahead for the government's pick to be nominated as the next chief executive. The approval puts former Economy Ministry official Caio Paes de Andrade on the doorstep of the CEO position a month after he was initially chosen. He still needs to be... Continue Reading →

Petróleo Brasileiro S.A. – Petrobras, following up on the Material Fact released on 06/09/2022, informs that it received a letter from the Ministry of Mines and Energy today, at 9:21 pm, to rectify the nominations of candidates of the controlling shareholder for the Company's Board of Directors, to be submitted to the Extraordinary General Meeting.... Continue Reading →

(Reuters) - Brazilian President Jair Bolsonaro on Wednesday said Caio Paes de Andrade, his pick to be oil producer Petrobras' (PETR4.SA) next chief executive, will replace the company's management when he takes over the position. "Obviously, he (Andrade) is going to change his directors and these new ones will give the company a new dynamic, they will... Continue Reading →