1st July 2022
EP

The CEO of Brazil's state-owned oil company Petrobras, who has stayed in his post despite being fired by Jair Bolsonaro in May, resigned recently after a new fuel price hike that enraged the far-right president.

 

Jose Mauro Coelho is the third Petrobras CEO to leave since February last year in a stand-off between the company and Bolsonaro over fuel prices.

 

Petrobras announced Coelho's resignation recently.

 

The company said Fernando Borges -- its head of exploration and production -- would take over temporarily until government pick Caio Paes de Andrade, an economy ministry official, assumes the top job.

 

Coelho was appointed for a one-year term in April after Bolsonaro fired his predecessor Joaquim Silva e Luna in March after slightly more than a year in the post.


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