During the inauguration ceremony, hours after being elected in an extraordinary meeting of the board of directors, José Mauro Ferreira Coelho said that Brazil aspires to produce 5.2 million barrels of oil per day and that the company he presides over will have a “very important participation in this matter”.

Brazil produced an average of 2.917 million barrels of oil per day in February, with Petrobras responsible for more than 70% of this amount.

José Mauro Ferreira Coelho also said that, after the reduction of the company's debt, which now stands at around 55 billion euros, it is now better prepared for greater investments.

The official also pledged to reduce extraction costs and thus increase competitiveness.