No grounds for Petrobras CEO to resign, minister says

The Minister of Mines and Energy, Eduardo Braga, said Friday (Jan. 16) that there is no evidence or grounds for Graça Foster to resign from her position as the Petrobras CEO. Braga even pointed out that Foster has not asked to resign at any of her meetings with him.

“Only evidence or suspicion would give cause for resignation. As far as I know, I don't see any reason to remove Graça Foster or any other board member from office. But this could change later on in case any incriminating evidence should emerge against them,” the minister said.

Braga pointed out he has known Graça Foster for 16 years and sees her as a competent and ethical professional.

“All men and women working for Petrobras are exposing their families, their financial standing, their lives, for a cause. If evidence emerges against them, they must face termination, but we're not lynching anybody over no evidence.”

The minister pointed out that the current Petrobras management is leading the company through production expansion and “that must be taken into account”.

“Petrobras is a critical and strategic organization for Brazil. If anyone is proven guilty, they must be held accountable, but the company should still deserve respect and be regarded for its important role for Brazil and Brazilians.”

Braga added that Petrobras can turn Brazil into an oil exporter. “This is crucial for our country's development strategy,” he said.

Translated by Mayra Borges