Moretti’s public sector career began in 2004 as an analyst in the Ministry of Planning, later leading the Secretariat of Planning and Strategic Investments between 2009 and 2012. His experience includes advisory roles within the Ministry of Planning’s Executive Secretariat and involvement in governance bodies such as the Federal Public Servant Complementary Pension Foundation (Funpresp). As Petrobras board chair, Moretti influenced capital allocation for exploration, refining, and low-carbon energy projects, which align with Petrobras’s planned $102 billion investments from 2024 to 2028, with 60% dedicated to low-carbon initiatives.
His appointment comes amid a challenging economic environment in Brazil, marked by 5.3% annual inflation and a projected 2.1% GDP growth for 2026. The Ministry of Planning faces the task of drafting the 2027 Union Budget, expected to allocate R$4.2 trillion towards health, education, and infrastructure. The new minister must reconcile fiscal austerity pressures with strategic investment demands in energy, defense, and technology sectors.
Moretti’s role will be pivotal in managing public finances and ensuring reinvestment of resources generated from Brazil’s pre-salt oil fields, which contributed R$128 billion in royalties in 2025. Analysts see Moretti’s appointment as a move to enhance technical capacity in state economic planning, reinforcing coordination between government policymaking and key sectors such as energy. The Petrobras board chair vacancy remains pending official replacement amid this ongoing reorganization.
This article was curated and published as part of our South American energy market coverage.
