Petrobras (PBR) Hit by Dividend Fiasco: All You Need to Know
PBRPetrobras(PBR) zacks.com·2024-05-20 23:06

In a dramatic shakeup, the Brazilian government ousted Petroleo Brasileiro S.A., or Petrobras (PBR) CEO Jean Paul Prates last week. The dismissal, prompted by disagreements over dividend policies, underscores ongoing tensions between the state-controlled oil giant and President Luiz Inácio Lula da Silva’s administration. This development marks the fifth change in Petrobras' leadership within three years, highlighting persistent political interf What Happened? The ousting of Prates, who served less than 18 m ...