LatinNews Daily - 07 April 2022

In brief: Take two at Brazil’s Petrobras

* The Brazilian government led by President Jair Bolsonaro has announced new names to lead the state-controlled oil company Petrobras, after the government’s most recent picks for CEO and chairman of the board withdrew due to conflicts of interest. The government has now nominated José Maura Ferreira Coelho as CEO and current board member Marcio Andrade Weber as chairman. Coelho is a technocrat who served as secretary for oil, natural gas, and biofuels in the ministry of mines & energy (MME) from 2020-2021, and who is currently head of PPSA, a state company that manages contracts and the commercialisation of oil in Brazil’s deep water pre-salt fields. “The government renews its commitment to respecting Petrobras’s solid governance, in observance with the normative and legal precepts that govern the company,” the MME said in a note announcing the new Petrobras appointees, who must now be confirmed at the company’s shareholders’ meeting on 13 April.

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