Dilma changes president to have more control over Petrobras
Autor: .             . . . .  . . . . Administrador Fábio Araújo | Publicado: 2012-01-25T07:14:00-08:00



&nbsp; &nbsp; &nbsp;President Dilma Rousseff's decision to change the head of Petrobras aims at increasing the federal government's influence over the company. Director of Petrobras' Gas and Energy Department, Maria das Graças Foster will substitute José Sergio Gabrielli as president of Petrobras.&nbsp;Foster will be appointed officially by Finance Minister Guido Mantega, president of the Petrobras Board of Directors, on February 9.&nbsp; &nbsp; &nbsp;The change in Petrobras' top executives, and also in the company's most important sectors, shows that more technical criteria have been adopted to choose such managers.&nbsp;By promoting former director of Gas and Energy Maria das Graças Foster, Dilma intends to increase the national production of oil. The government has complained that Petrobras had not been investing in that sector.&nbsp; &nbsp; &nbsp;Foster has been working for Petrobras since 1978, and is close friends with Dilma -- they also share similar opinions regarding the sector. Foster will be the first woman president of the largest company in Latin America, with scheduled investments of US$ 224.7 billion by 2015-- including exploration of the pre-salt.&nbsp; &nbsp; &nbsp;The close relations&nbsp;between Foster and Rousseff are so widely-known in the political backstage that a top advisor said yesterday that Petrobras now has its own Dilma. They have similar styles. Besides being recognized as "tough", they are obsessed with management and goals.&nbsp; &nbsp; &nbsp;The market received the news well, and believes Foster will bring Petrobras and the government closer, making management easier.&nbsp;Petrobras common shares rose 3.61 and the preferred shares jumped 3.76%, averting a decline of the stock market, which closed with a 0.12% rise. Analysts say the main reason for the rise was the increase in the price of oil due to the embargo against Iran.&nbsp; &nbsp; &nbsp;Gabrielli and Dilma had had a turbulent relationship ever since Dilma was Minister of Mines and Energy and president of Petrobras' Board of Directors. Some of their meetings ended in arguments and shouting.
ESTRELLA GOES DOWN
&nbsp; &nbsp; &nbsp;Gabrielli was head of Petrobras longer than any other director. He will complete six years and nine months in February, more than Joel Rennó, who was head of Petrobras for six years and five months. Gabrielli's substitution will lead to other changes.&nbsp; &nbsp; &nbsp;Guilherme Estrella, director of Exploration and Production, will probably be replaced by the area's main manager, Solange Guedes until Magda Chambriard, appointed by Dilma, can take office in November, when she will leave the direction of ANP (National Petroleum Agency).&nbsp; &nbsp; Estrella's substitution for Chambriard is allegedly due to Dilma's dissatisfaction with Petrobras' attitude, which says there is no way to increase production quicker without accessing the international equipment market. That goes against Dilma's national content policy.&nbsp;Governor of Bahia Jaques Wagner (PT) invited Gabrielli to be state secretary. In doing so, Wagner supports a PT member to run for governor in 2014.&nbsp;Gabrielli, an economist, is cited as a possible Secretary of Finance or Planning as of March, when Wagner will likely leave office to finish an administrative reform due to the election year.TRANSLATED BY THOMAS MUELLOfolha.com