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Petrobrás and compliance

Rafael Herzberg's picture
Consultant energy affairs, Self employed

Rafael Herzberg- is an independent energy consultant, self-employed (since 2018) based in São Paulo, Brazil* Focus on C level, VPs and upper managers associated to energy related info, analysis...

  • Member since 2003
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  • Apr 4, 2021

Petrobrás and compliance

The huge state-owned oil company's CEO was fired by Brazil's president. But... he stated emphatically that he would not interfere in the company.

The company's official reports published in recent years show that there has been a solid recovery in its economic and financial balance sheets, production is rising steadily and its market price (shares) rising.

In a healthy environment, a company's important decisions are analyzed and passed through the board. And so good compliance is reached, protecting all stakeholders.

Unfortunately, the dismissal was not explained, It did not include a plausible justification that would give tranquility to the company's controllers (all Brazilians).

So why does the "compliance" sector exist in the company?


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Rafael Herzberg's picture
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