Bolsonaro pick for president of Brazil oil giant takes over

RIO DE JANEIRO (AP) — José Mauro Coelho has taken the leadership as president of Brazil’s oil giant Petrobras. Coelho is the state-run company’s third president in a little more than three years. He was elected by the board of directors on Thursday and is expected to maintain the company’s policy on fuel prices in spite of pressure from the administration of President Jair Bolsonaro to reduce fuel prices in an electoral year. Coelho’s appointment followed Bolsonaro’s dismissal of his predecessor, Gen. Joaquim Silva e Luna, who lost the government’s support after the company boosted fuel prices to pass some of the global oil increases to consumers.