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International Business Times

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AFP News

Brazil Government Announces Petrobras Chief Dismissed

Petrobras Luiz Inacio Lula da Silva Jean Paul Prates Brazil Oil

Petrobas CEO Jean Paul Prates (L) speaks during the CERAWeek oil summit in Houston, Texas in March 2024 (Credit: AFP)

The government of Brazilian President Luiz Inacio Lula da Silva announced Tuesday that the CEO of state oil company Petrobras has been sacked.

The move follows a recent spat between Petrobras and shareholders over dividend payments, which heightened concerns about the government's influence in the publicly traded company's decision-making.

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