UPDATE 6-Petrobras' next CEO says oil firm should focus on exploration, production [Reuters]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
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Source: Reuters
Petrobras' next CEO says oil firm should focus on exploration, production | Reuters 5 Min Read RIO DE JANEIRO (Reuters) - A University of Chicago-trained economist named on Monday as the next chief of Brazil’s Petrobras has quickly thrown his support behind the sale of the state oil company’s non-core assets and called for it to focus on exploration and production. Brazil’s incoming far-right government announced Roberto Castello Branco as the next chief executive of Petroleo Brasileiro SA ( PETR4.SA ), amid a debate over how far to pursue asset sales at the indebted company. A source of national pride for many Brazilians, Petrobras is Latin America’s largest company by market capitalization, according to Refinitiv data, and employs some 60,000 people. Castello Branco’s appointment is the latest in a string of market-friendly selections by President-elect Jair Bolsonaro, many of them influenced by his adviser and future economy minister, Paulo Guedes. The appointments have raised ho
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