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The Independent UK

National

Elonore Hughes

Petrobras new chief sworn in as market worries Brazil's government will have heavier hand

Petrobras Luiz Inácio Lula da Silva Magda Chambriard Jean Paul Prates Brazil Oil Government Intervention

Copyright 2024. The Associated Press. All rights reserved

The head of Brazil’s state-run oil giant Petrobras, Magda Chambriard, was sworn in Wednesday amid market concerns of increased government intervention in the company.

President Luiz Inácio Lula da Silva — who nominated Chambriard — attended the ceremony at a Petrobras research center in Rio de Janeiro, along with Finance Minister Fernando Haddad and Mines and Energy Minister Alexandre Silveira.

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