Bolsonaro dismisses Petrobras president after 40 days in office

To replace Ferreira Coelho, the government proposed social communicator Caio Mario Paes de Andrade, advisor to Economy Minister Paulo Guedes, with a postgraduate degree in administration and management from Harvard and a master's degree in business administration from Duke University in the United States.

RIO DE JANEIRO, BRAZIL - The Brazilian government announced Monday the replacement of José Mauro Ferreira Coelho, who held the presidency of state oil company Petrobras for 40 days and was the third in office during the current administration of President Jair Bolsonaro.

"Brazil is currently going through a difficult period due to the impact of extreme volatility of hydrocarbons in international markets," the Ministry of Mines and Energy justified the change in a statement.

"Various geopolitical factors are known to affect the price of gasoline and diesel and all energy components," the statement added.

To "maintain the necessary conditions for . . .

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