The International Resource Journal: Petrobras chief Gabrielli to leave for politics

Petrobras chief Gabrielli to leave for politics
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Nuala  Gallagher on 23 January, 2012 07:23:00
 
IRJ – January 23 – The chief executive of Brazilian state-run oil
and gas giant Petrobras, Jose Sergio Gabrielli, is to step down from the company
and assume a government role in his home state of Bahia prior to running for
governor of the state in 2013, according to financial broadsheet Valor
Economico, Monday.
Gabrielli, who has headed up Brazil’s largest oil and gas group by revenue
since 2005, is due to depart on February 12 and will be replaced by
Petrobras’ gas and energy director, Marias das Graca Foster, the paper
states.
As a business friend of President Rousseff, Foster is tipped to be a prime
choice as Petrobras continues to pursue its aim of aligning its operations with
government plans to develop Brazil’s bountiful offshore oil reserves.
Reports note that Gabrielli has continually dodged suggestions that he might
consider entering political realms. As early as yesterday, Sunday 22, he chose
not to confirm his departure from Petrobras during a telephone interview with
Reuters news agency. His achievements include piloting the company during its
landmark sub-salt discovery, and overseeing the largest-ever share offering
Petrobras has run, totalling approximately $70 billion.
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