Remember the changes in the presidency of Petrobras during the Bolsonaro government

Petrobras will have its fourth president appointed during the administration of the Jair Bolsonaro (PL) government. Since the beginning of the current government, three names have occupied the presidency of the state-owned company.

The last to leave the post was José Mauro Coelho, who resigned this Monday (20), after pressure from the leader of the Executive and the president of the Chamber, deputy Artur Lira (PP-AL).

Last month, Bolsonaro said he would change the command of the state-owned company and appointed the then secretary of Debureaucratization at the Ministry of Economy, Caio Mário Paes de Andrade, to replace the company’s current president.

See the changes in the company’s president during the Bolsonaro government.

Roberto Castello Branco

The first to take charge of the state-owned company during the government of President Jair Bolsonaro was economist Roberto Castello Branco. He was nominated for the post in November 2018, shortly after the presidential elections.

Castello Branco took office as president of the state-owned company on January 3, 2019. During his term, the company received harsh criticism from the Chief Executive in relation to Petrobras’ pricing policy. In two months, the company had made four price adjustments for gasoline and three for diesel.

Bolsonaro decided to fire him in February 2021. Castello Branco remained in office until April 13, 2021.

Joaquim Silva and Luna

Castello Branco was replaced by General Joaquim Silva e Luna, who took office on April 16, 2021, almost two months after his appointment by President Bolsonaro.

In his inauguration, he said that one of the main challenges of his management would be to reconcile the interests of consumers and shareholders, valuing oil tankers and seeking to reduce price volatility without disrespecting international parity.

The announcement of the replacement generated fear among investors about new interventions in the pricing policy and led the company to lose BRL 102.5 billion in market value in just two days.

Silva e Luna remained in office until April 2022. He was replaced due to a series of frictions with the government, after the 18% mega-increase in the price of gasoline promoted by Petrobras.

Jose Mauro Ferreira Coelho

In place of the military man, the president nominated José Mauro Ferreira Coelho to occupy the chair of the state-owned company. A chemist, Coelho took office on April 14, 2022. He defended the practice of fuel market prices, which was criticized by the opposition and the government itself.

The government announced that it would change the president of Petrobras again on May 23, after the company announced a 14.2% increase in the price of diesel and 5.2% in gasoline. At the time, the company claimed that the oil market is undergoing structural change and that international prices need to be monitored.

The increase in fuel prices provoked reactions from President Jair Bolsonaro and the president of the Chamber, Arthur Lira, who defended taxing the oil company’s profit. After pressure, Coelho resigned from the presidency of the state-owned company this Monday (20).

Petrobras presidents under Bolsonaro:

1. Roberto Castello Branco: from January 3, 2019 to April 13, 2021;
2. Joaquim Silva and Luna: from April 16, 2021 to April 13, 2022;
3. Jose Mauro Ferreira Coelho: from April 14, 2022 to June 20, 2022
4. Caio Mario Paes de Andrade (guest)