Oil workers try to stop the appointment of Paes de Andrade at Petrobras

Oil workers try to block the appointment of Caio Paes de Andrade to the presidency of Petrobras, claiming that the nominee of President Jair Bolsonaro (PL) does not meet the requirements established by the Law of State-owned companies to occupy the position.

This Friday (24), the internal committee that analyzes nominations for leadership positions at the state-owned company should conclude an opinion on Paes de Andrade, and the board of directors is expected to meet early next week to confirm the appointment.

In a letter to the committee and board members, Anapetro (National Association of Petroleum Workers Minority Shareholders of Petrobras) and FUP (Federação Único dos Petroleiros) speak of “inconsistencies for the appointment” and suggest that Paes de Andrade be rejected.

“If the name is approved, [a Anapetro] will seek legal means, both in the control bodies, such as the Securities and Exchange Commission, and in the Judiciary, so that the decision is reviewed”, says the association.

A representative of the company’s employees on the Petrobras board of directors, engineer Rosângela Buzanelli also released a statement criticizing the nomination.

“The only professional foray of Caio Paes de Andrade compatible with the intended role was the participation of a year and a half on the board of PPSA, a Brazilian state-owned company that manages oil exploration”, he emphasizes.

Buzanelli and the association cite articles from the law on state-owned companies that establish a minimum experience of ten years in companies in the oil sector or companies of the same size as Petrobras, in addition to an academic background compatible with the position.

Paes de Andrade has a degree in social communication and made a career at an investment company in technology startups until he took office in the Bolsonaro government. He was a secretary at the Ministry of Economy when he was appointed to head Petrobras.

“The government treats Petrobras as a backyard company with total irresponsibility and lack of respect for shareholders and for the company’s importance to Brazilian society,” Anapetro president Mario Dal Zot said in a statement.

The inconsistencies in the curriculum were also questioned by private investors shortly after the nomination, but resistance has lost strength in recent days. For minority representatives, the appointment reduces the instability generated in the company after a new change of command.

Paes de Andrade will replace José Mauro Coelho, who was fired by Bolsonaro at the end of May, but only left office this Monday (23) after strong pressure from the government and allies, who threatened with opening a CPI and with changes in the Law on Women. State.

The market questions the proposed change in the law, which could weaken mechanisms created after Operation Car Wash to increase the shielding of state-owned companies against political interference. The proposal is sponsored by the president of the Chamber of Deputies, Arthur Lira (PP).

The oil workers, in turn, see the appointment of Paes de Andrade as a move towards the privatization of Petrobras, which has support from the Ministries of Mines and Energy and the Economy. The category promises a national strike if the process goes ahead.

“The negative financial impacts of these constant exchanges and the attempt to appoint unqualified people, as seems to be the case, demonstrate that the government wants to interfere in the management of the company to further depreciate its assets put up for sale”, says Dal Zot.