Petrobras: Why did the president of the company resign? 3:30 (CNN Spanish) — The government of Jair Bolsonaro removed José Mauro Ferreira from the presidency of the oil company Petrobras, as confirmed in a statement by the Ministry of Mines and Energy, on which the company depends, whose capital is divided between the State and local and foreign investors. According to the Ministry, to replace Ferreira -who had been in office for 40 days-, the government proposed Caio Mário Paes de Andrade, who worked as special secretary for De-bureaucratization, Management and Digital Government of the Ministry of Economy and whose appointment will be submitted to the Petrobras board of directors for approval. In recent weeks, Bolsonaro has criticized Petrobras, stating that its profit margin “is a crime” and that high fuel prices would bankrupt the country. The millionaire sum to be paid by Petrobras 0:31 Petrobras, in which the Brazilian State controls about 37% of the shares, is one of the largest oil and gas producers in the world and has 40,000 employees. The prices of fuel and gas have been rising in recent months due to criticism from the Brazilian president, who, according to a recent survey by the Brazilian Institute of Social, Political and Economic Research (Ipespe), is in second place in the voting intentions for the presidential elections in October against the favorite Luiz Inácio Lula da Silva.
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