Reported 8 months ago
Magda Chambriard has been sworn in as the new president of Brazil's state-run oil giant Petrobras, with concerns in the market about potential increased government intervention in the company. Chambriard's inauguration was attended by President Luiz Inácio Lula da Silva, Finance Minister Fernando Haddad, and Mines and Energy Minister Alexandre Silveira. The market is wary of Chambriard's approach after her predecessor's resigning due to tensions with the federal government, with fears stemming from past government intervention in Petrobras amid corruption scandals like the 'Car Wash' investigation.
Source: YAHOO