Brazil’s Petrobras CEO resigns amid pressure over gas prices

Jun 20, 2022, 9:53 AM | Updated: 10:02 am

SAO PAULO (AP) — The chief executive of Brazil’s state-run oil giant Petrobras resigned on Monday amid political pressure from top lawmakers and President Jair Bolsonaro. José Mauro Coelho held the job for less than two months.

A filing of the oil giant to Brazil’s security authority said that Coelho chose to resign, as lawmakers in capital Brasilia openly discuss setting a congressional inquiry on Petrobras and Bolsonaro blames the state-run company for rising gas prices.

Bolsonaro had already announced on May 25 he would fire Coelho, but until Monday the Petrobras executive refused to leave before stockholders voted on his successor.

The move comes as Bolsonaro faces an uphill battle for reelection, and rising gas prices dent his chances of overcoming former President Luiz Inacio Lula da Silva, who leads all polls.

Petrobras said in another filing that director Fernando Borges will remain as interim chief-executive until a Bolsonaro appointee is approved by one of the company’s councils.

Coelho replaced retired Army Gen. Joaquim Luna e Silva, who was fired in March amid political pressure also due to rising gas prices.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


(Facebook Photo/Superior Court of Arizona in Yavapai County)...
Associated Press

Arizona judge has cases reassigned following DUI arrest

The Arizona Supreme Court has ruled that all cases currently assigned to a Yavapai County Superior Court judge recently arrested on suspicion of extreme DUI will be reassigned to other judges.
2 days ago
Haitian migrant Gerson Solay, 28, carries his daughter, Bianca, as he and his family cross into Can...
Associated Press

US, Canada to end loophole that allows asylum-seekers to move between countries

President Joe Biden and Canadian Prime Minister Justin Trudeau on Friday announced a plan to close a loophole to an immigration agreement.
5 days ago
Expert skateboarder Di'Orr Greenwood, an artist born and raised in the Navajo Nation in Arizona and...
Associated Press

Indigenous skateboard art featured on new stamps unveiled at Phoenix skate park

The Postal Service unveiled the “Art of the Skateboard" stamps at a Phoenix skate park, featuring designs from Indigenous artists.
5 days ago
(Facebook Photo/City of San Luis, Arizona)...
Associated Press

San Luis authorities receive complaints about 911 calls going across border

Authorities in San Luis say they are receiving more complaints about 911 calls mistakenly going across the border.
11 days ago
(Pexels Photo)...
Associated Press

Daylight saving time begins in most of US this weekend

No time change is observed in Hawaii, most of Arizona, Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam and the Northern Marianas.
19 days ago
(Photo: OCD & Anxiety Treatment Center)...
Sponsored Content by OCD & Anxiety Treatment Center

Here's what you need to know about OCD and where to find help

It's fair to say that most people know what obsessive-compulsive spectrum disorders generally are, but there's a lot more information than meets the eye about a mental health diagnosis that affects about one in every 100 adults in the United States.

Sponsored Articles

(Photo by Michael Matthey/picture alliance via Getty Images)...
Cox Communications

Valley Boys & Girls Club uses esports to help kids make healthy choices

KTAR’s Community Spotlight focuses on the Boys & Girls Club of the Valley and the work to incorporate esports into children's lives.
Day & Night Air Conditioning, Heating and Plumbing

Company looking for oldest air conditioner and wants to reward homeowner with new one

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.
(Pexels Photo)...

Sports gambling can be fun for adults, but it’s a dangerous game for children

While adults may find that sports gambling is a way to enhance the experience with more than just fandom on the line, it can be a dangerous proposition if children get involved in the activity.
Brazil’s Petrobras CEO resigns amid pressure over gas prices