Brazil's President Lula da Silva dismisses Petrobras CEO Jean Paul Prates over dividend dispute, replacing him with Magda Chambriard.

Brazilian President Lula da Silva has dismissed Petrobras CEO Jean Paul Prates amid a dispute over dividend payments, raising concerns about government influence. Prates was replaced by Magda Chambriard, the former head of Brazil's oil and gas regulator ANP, as the new CEO. The change in leadership is expected to lead to lower fuel prices, smaller dividends, and increased capital spending to stimulate Brazil's economy.

May 15, 2024
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