Brazilian Economist Adriano Pires has turned down President Jair Bolsonaro's offer to chair the state-run oil company Petrobras after dismissing General Joaquim Silva e Luna, who repeatedly adjusted the price of fuel against the head of state's recommendations.
Brazil's state-managed energy giant Petrobras confirmed the presence of significant quantities of light oil in deep waters off the country's south-eastern coast. Petrobras said in a statement released late Monday that the high-grade oil was in the Carcara well, located 230 kilometres off the coast of the Sao Paulo state, in the BM-S-8 block.