RIO DE JANEIRO, BRAZIL – Brazilian President Jair Bolsonaro has decided to appoint former Defense Minister Joaquim Silva e Luna as chief executive of state-controlled oil company Petrobras, he said in a Friday, February 19th, post on Facebook.
Roberto Castello Branco, the current CEO of the state-run oil firm known formally as Petroleo Brasileiro SA, has drawn ire from Bolsonaro for raising fuel prices despite complaints from truckers threatening to strike.
The move comes after investor concerns about political interference in the state firm triggered a 6.6% plunge for its Brazil-listed preferred shares on Friday.
During a late Thursday announcement about lower fuel taxes, Bolsonaro made clear his dissatisfaction with Castello Branco, saying there would be changes at Petrobras “in coming days,” even as he reiterated that he would not “interfere” in the firm.
Petrobras did not immediately respond to a request for comment.
The company’s board of directors is set to meet on Tuesday.
The board has so far proven loyal to Castello Branco, although the majority of its members are government appointed, Reuters reported earlier in the day. One person close to the company had said its board and top executives were considering mass resignations to back the CEO’s independence.
Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$154.60B
Market cap
Analyst target $23.31
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $23.31 · +30% vs 200-day
Valuation & profitability
Market cap$154.60B
Revenue (TTM)$548.49B
P / E ratio6.0
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $24.85
Beta (volatility)-0.23
200-day average$18.00
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.4%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield15.4%
Payout ratio28.3%
Fwd. annual$1.68
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
