The next president of Petrobras, Caio Paes de Andrade, will not have a pen in hand to hold new adjustments. To succeed in postponing increases until after the elections as the government expects, it will either have to convince the current board members or wait for a complete renewal of the government’s nominees to the board of directors.
Only in this way will it be able to select a new high level of the state-owned company and guarantee a majority to approve the agendas desired by the government and, with that, delay possible increases in fuel pumps.
Sources close to the state-owned company consulted by Estadão/Broadcast, Grupo Estado’s real-time news system, believe that the company’s next president, who should be confirmed in office in the coming days, should try to hold a new adjustment at least until the elections.
A source familiar with the company’s rules says that, if Andrade follows this path, he will have to prepare documentation proving that there were no damages to the market or to shareholders with the delay in achieving parity in international prices. If he does not succeed, he may even be questioned in court “in the individual”.