Brazil’s Petrobras CEO appointee may face conflict of interest probe

RIO DE JANEIRO (Reuters) – The prosecutor’s workplace at Brazil’s federal audit courtroom (TCU) has requested the courtroom to open an investigation into President Jair Bolsonaro’s appointment of Adriano Pires as chief government of state-run oil firm Petroleo Brasileiro, for a potential battle of curiosity.

In accordance with a doc seen by Reuters and dated March 31, deputy prosecutor Lucas Furtado on the TCU mentioned Pires’s work as guide for multinational oil corporations “strongly signifies the existence of a potential battle of curiosity” if he turns into Petrobras CEO.

Pires, the founding father of consulting agency Centro Brasileiro de Infraestrutura (CBIE), was tapped this week to switch Joaquim Silva e Luna as head of Petrobras after President Jair Bolsonaro criticized the corporate’s gas worth coverage.

Power trade analysts hailed the appointment, and Petrobras shares rose the next day. Pires is called an advocate of privatizing Petrobras and has supported the corporate’s coverage of constructing home gas costs replicate worldwide worth actions.

However Furtado challenged the appointment.

“For over 20 years, he has been offering companies to the primary oil, gasoline and vitality multinationals,” the doc mentioned.

The appointment should nonetheless be accredited by a shareholders assembly. The subsequent one is scheduled for April 13.

Pires declined to touch upon the TCU investigation.

(Reporting by Rodrigo Viga Gaier; Writing by Ana Mano; Modifying by David Gregorio)