Logo

Brazilian oil giant CEO says president demands profitability while fostering national growth

TraderKnows
TraderKnows
06-20

Recently, the CEO of the Brazilian oil giant Petrobras publicly stated that the President had asked him to keep the company profitable while also helping to develop the national economy.

Magda Chambriard, CEO of Brazilian oil giant Petrobras, stated that the President has asked her to promote the country's economic development while maintaining the company's profitability.

Chambriard assumed the role on Wednesday after officially taking over in May from her predecessor, who was dismissed by President Luiz Inácio Lula da Silva. During her inauguration, she noted that Petrobras' vision for Brazil aligns with the President's priorities.

Lula echoed this sentiment at an event held at Petrobras' CENPES research center in Rio de Janeiro.

"No one wants shareholders to lose a penny," Lula said, "nor does anyone want Petrobras to become a loss-making company."

Last month, fears that Lula might appoint a new CEO who would prioritize Brazil's economic growth at the expense of shareholders led to a sharp decline in Petrobras' stock, resulting in the dismissal of former CEO Jean Paul Prates.

In response to Lula's request, one of Chambriard's main tasks is to accelerate the implementation of the company's $102 billion investment plan for 2024-2028, which she said has the potential to create "hundreds of thousands of jobs."

Last week, Chambriard announced her new management team, appointing three directors with technical expertise and extensive experience in the state-owned company.

After Wednesday's event, Chambriard told reporters that she does not foresee any further changes within the company's senior management.

SKYPE TU

公众号2

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

Wiki

Barrel of Oil Equivalent

Barrel of Oil Equivalent (BOE) refers to an energy unit used to convert different types of energy into the equivalent energy of one barrel of crude oil.

Organization

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Logo

Contact Us

Social Media

footer1