Brazil: The head of the oil company Petrobras leaves

After months of pressure from the Brazilian government, the head of the state oil company Petrobras, Jean-Paul Prats, resigned. The Ministry of Mines and Energy said in an announcement to the stock exchange yesterday that President Luiz Inacio Lula da Silva will replace Prats, and will appoint Magda Chamberriard, the former head of the Brazilian oil and gas regulatory body ANP.

Pratz's removal represents a victory for members of Lula's government, who are demanding lower fuel prices, reduced dividends, and increased investments to create jobs and stimulate the economy.

Since taking office in January 2023, Prats has repeatedly clashed with Energy Minister Alexander Silveira. He publicly criticized the company for not making the necessary efforts to lower prices at the pumps or stimulate the Brazilian economy through investments.

Chamberillard, who began her career in the energy sector as an engineer at Petrobras in 1980, headed oil regulator ANP from 2012 to 2016 under the previous government of Lula's leftist Workers' Party. After Lula won the election in 2022, she was already considered a promising candidate for the top job at Petrobras.