The share price of Brazil’s state-owned oil giant, Petroleo Brasileiro S.A. (Petrobras), has nosedived 41% since October, when Luiz Inácio Lula da Silva, affectionately known as Lula, defeated the right-wing Jair Bolsonaro by running a pro-environmental campaign.
Lula was sworn in as President of Brazil for the third time in his life on Jan. 1. The following day, Petrobras shares fell over 9% in New York trading.
