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Weekly Report - 16 May 2024 (WR-24-19)

BRAZIL: New leadership at Petrobras

Since early March, speculation has been building as to whether the CEO of Brazil’s state-controlled oil giant Petrobras, Jean Paul Prates, would remain in his post, amid tensions with officials in the government of President Luiz Inácio Lula da Silva. On 14 May, after mounting pressure on Prates, the company announced the termination of his contract. Prates is due to be replaced by Magda Chambriard, the former director of the oil and gas regulatory agency (ANP) from 2012-1016, an appointment expected to be more aligned with the Lula administration’s goals.

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