(Bloomberg) -- Brazilian President Luiz Inacio Lula da Silva has called an emergency meeting with ministers from his cabinet to discuss the future of state-controlled oil company Petroleo Brasileiro SA.

Finance Minister Fernando Haddad is among the officials invited, said a person with knowledge of the matter who did not want to be identified as discussions are not public. The meeting is scheduled for Sunday night in the country’s capital Brasilia, amid increased speculation over whether Chief Executive Officer Jean Paul Prates will remain at the helm of the company. 

A spokesperson for Lula’s office did not reply a request for comment. 

Common shares of Petrobras, as the oil giant is known, slumped on Thursday after CNN Brasil, citing anonymous sources, reported that Prates’ departure was imminent. In a statment Friday, Petrobras said it was not aware of any decision regarding the replacement of its CEO.

Prates’ potential departure after more than a year in the role underscores how Petrobras has struggled to meet conflicting expectations from the government and minority shareholders. The Lula administration would like to see Petrobras act more as a driver of economic and job growth, while shareholders have gotten accustomed to industry-leading dividend payments that have since declined.

Petrobras also denied local news reports that dividend payments were in discussion during a board meeting held Friday.

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