The prosecutor's office at Brazil's federal audit court (TCU) has asked the court to open an investigation into President Jair Bolsonaro's appointment of Adriano Pires as chief executive of state-run oil company Petroleo Brasileiro , for a possible conflict of interest.
People walk in front of the headquarters of Petroleo Brasileiro S.A. in Rio de Janeiro, Brazil March 9, 2020.
Pires, the founder of consulting firm Centro Brasileiro de Infraestrutura , was tapped this week to replace Joaquim Silva e Luna as head of Petrobras after President Jair Bolsonaro criticized the company's fuel price policy.Energy industry analysts hailed the appointment, and Petrobras shares rose the following day. Pires is known as an advocate of privatizing Petrobras and has supported the company's policy of making domestic fuel prices reflect international price movements.
The appointment must still be approved by a shareholders meeting. The next one is scheduled for April 13.Register now for FREE unlimited access to Reuters.comOur Standards:
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