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Montevideo, July 2nd 2022 - 08:37 UTC

Tag: José Mauro Coelho

  • Tuesday, June 21st 2022 - 09:21 UTC

    Petrobras CEO Coelho bows to pressure and resigns

    Exploration and Production Chief Fernando Borges has been appointed interim president

    After barely 40 days on the job, José Mauro Coelho resigned as CEO of Brazil's state-run oil company Petrobras due to pressure from President Jair Bolsonaro and other politicians over a recent increase in the price of fuel, which drives inflation upwards ahead of the Oct. 2 elections. Bolsonaro had dubbed the price hike a “betrayal” of the Brazilian people.