New Petrobras President Says He Will Bring Forward The Return To In-Person Work, Set Aside Remote Work, And Change The State Company’s Fuel Pricing Policy

Soon, the then-president of Petrobras Silva e Luna will anticipate the return to in-person work, leaving behind the home office mode, and possibly will change the fuel pricing policy.

General Silva e Luna, during the preliminary meetings he has held with Petrobras directors and managers, has indicated that he will soon make an administrative-sanitary change very much to the liking of then-President Jair Bolsonaro: He will anticipate the return to in-person work and leave home office aside, applying new changes to the state-owned company’s fuel policy.

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The home office at Petrobras is valid until June, according to Lauro Jardim from O Globo, but it was a consensus in the current board that it would be extended until December. At the end of February, shortly after appointing Silva e Luna to Petrobras, President Jair Bolsonaro openly criticized the home office at Petrobras. According to him, the current president of Petrobras has been at home for 11 months, not doing his due activities and working remotely. For the president, the head must be at the forefront, as well as his directors.

Petrobras and the Possible Change in Fuel Pricing Policy

Another move expected by the financial market is regarding a calibration of the fuel pricing policy, concerning Luna leading Petrobras.

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Cesar Bergo, President of the Regional Economics Council, believes that the fuel pricing policy should revert to what it was before Castello Branco, meaning that fuel fluctuations will not be felt immediately.

The market was attentive to the Petrobras Board of Directors meeting on Monday to approve the appointment of General Joaquim Silva e Luna, by President Jair Bolsonaro, to lead the state-owned enterprise.

According to analysts, this approval will not abundantly influence fuel prices. What will indicate if the company is indeed stable is the future governance aligned with international standards.

Home Office Amid the Pandemic

With the rapid advance of the pandemic, companies and stores of all sizes were forced to make a quick shift to remote work. Even before the pandemic, according to home office statistics, the work model already encompassed a large part in Brazil.

According to IBGE data, in 2018 about 3.8 million Brazilians worked remotely. The home office work model also shows good adoption among startup companies and other private initiatives, such as virtual stores that operate almost entirely online.

Another survey, now from Pulses, in 2020 indicated that even during the pandemic, 78% of Brazilians feel more productive working remotely. What is now seen as a production improvement, until recently, the home office model was not viewed favorably, as companies believed that employees would be more prone to distractions if they were at home, resulting in poor performance.

New President of Petrobras Should Assume This Friday

General Silva e Luna was appointed by Jair Bolsonaro to preside over the state-owned company in place of Roberto Castello Branco, following tensions involving fuel price increases.

The Petrobras Board of Directors will hold an extraordinary meeting next Friday to elect General Joaquim Silva e Luna as the new president of the state-owned enterprise, according to two sector sources.

The expectation is that, after being formally appointed by the Board of Directors, General Silva e Luna will hold an internal inauguration ceremony with the directors of the state-owned company. This may occur on Friday itself or on Monday, although the date is still open.