Brazil’s Oil Industry Shakeup Could Be Devastating For Its Economy ...Middle East

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Brazil’s Oil Industry Shakeup Could Be Devastating For Its Economy
source : OILPRICE ( Middle East ) () 22
Following the ousting of the CEO of Brazil’s state-controlled oil group Petrobras by President Bolsonaro earlier this week, experts fear what greater intervention might do to the country’s oil industry.  The removal of CEO, Roberto Castello Blanco, from his position at the head of Petrobras came following a conflict with the President over energy price hikes. Fears that price increases in diesel would cause protests led Bolsonaro to oppose a Petrobras price hike under Castello Blanco.  President Bolsonaro quickly replaced…

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