Brazilian economic official most likely pick to lead Petrobras, says O Globo By Reuters

SAO PAULO (Reuters) – Brazilian Economy Ministry official Caio Mario Paes de Andrade has emerged as the most likely choice to lead state-run oil company Petrobras after energy consultant Adriano Pires declined the government’s nomination, newspaper O Globo reported on Tuesday.

Paes de Andrade, who holds a master’s degree from Duke University and currently advises Economy Minister Paulo Guedes on digital governance, had been considered for the job even before Pires was tapped to be chief executive, O Globo said.

Pires backed out of the nomination on Monday, saying it was clear he could not reconcile his consulting work with running the oil company, known formally as Petroleo Brasileiro SA.

According to the O Globo report, which did not cite specific sources, several ministers are now backing Paes de Andrade for the job and he has already been interviewed by Mines and Energy Minister Bento Albuquerque.

Newspapers Valor Economico and O Estado de S.Paulo also reported on Tuesday that Paes de Andrade was in the running.

The Economy Ministry declined to comment. The Mines and Energy Ministry did not immediately respond to a request for comment.

Asked on Monday about who could be chosen for the job after Pires declined, Guedes said he had “no light” to shine on the matter.

Petrobras said in a securities filing late on Monday it had not yet received any information from the Mines and Energy Ministry on who could replace Pires.

Petrobras shares were roughly flat in early trading on Tuesday, as the benchmark stock index slipped 0.2%.