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Why Is Brazilian Oil Company Petrobras Stock Sinking Today?

Petroleo Brasileiro S.A.– Petrobras (NYSE:PBR) shares are trading lower after it disclosed that CEO Jean Paul Prattes is resigning from the position. Paul will also step down from the position as a member of the Petrobras Board of Directors. The company will replace Paul with a former regulator who shares Brazil President Luiz Inacio Lula da Silva’s views, reported Reuters. As per the report, ...