Magda Chambriard was sworn in as the head of Brazil's state-run oil giant Petrobras on Wednesday, with President Luiz Inácio Lula da Silva attending the ceremony. Chambriard, who previously headed the oil and gas regulator ANP, takes over from Jean Paul Prates, who stepped down amid tensions with the federal government.
Market concerns have arisen regarding potential government intervention in Petrobras, with fears dating back to the 'Car Wash' investigation that uncovered corruption within the company. The investigation led to the imprisonment of Lula and the annulment of his conviction, raising questions about the motives behind the probe.
