Bolsonaro’s Petrobras Pick Seeks Investment, Less Volatility
- Joaquim Silva e Luna speaks in an interview after nomination
- Brazil needs less fuel price volatility, while avoiding losses
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Petroleo Brasileiro SA’s incoming chief executive officer wants to continue opening the refining industry to outside investment and will avoid losses on fuel prices.
Joaquim Silva e Luna, a former defense minister who President Jair Bolsonaro abruptly named to lead the state-controlled oil company last week, said in an interview that he’ll work with the board to understand how it prices fuel, while adding that there should be less volatility and more “predictability” and “transparency” for consumers.