Petrobras new chief sworn in as market worries Brazil's government will have heavier hand [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
during her inauguration ceremony, in Rio de Janeiro, Brazil, Wednesday, June 19, 2024. (AP Photo/Bruna Prado) ASSOCIATED PRESS RIO DE JANEIRO (AP) — The head of Brazil's state-run oil giant Petrobras, Magda Chambriard, was sworn in Wednesday amid market concerns of increased government intervention in the company. President Luiz Inácio Lula da Silva — who nominated Chambriard — attended the ceremony at a Petrobras research center in Rio de Janeiro, along with Finance Minister Fernando Haddad and Mines and Energy Minister Alexandre Silveira. Chambriard's predecessor, Jean Paul Prates, stepped down last month following months of tensions with the federal government. The market viewed Prates as putting the interests of shareholders above those of the nation, and is skeptical Chambriard — who headed oil and gas regulator ANP between 2012 and 2016 — will have the same approach. “Our management, as expected, is fully aligned with President Lula's and the federal government's visio
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