After recently welcoming its new CEO, Maria das Gracas Foster, Brazilian state-controlled giant Petrobras has brought onboard two new directors.

José Miranda Formigli has taken up the role of director for Exploration and Production, whilst José Alcides Santoro has moved into the role of director for Gas & Energy.

According to Formigli, it remains important for Petrobras to remain focused on short-term result predictability. He said: “Petrobras has a bright future ahead of it, one few oil companies worldwide can hope to have, whether on account of its access to reserves or due to the Brazilian market, which I consider as one of our main advantages.”