Weekly Report - 30 June 2022 (WR-22-26)

BRAZIL: Petrobras caves in to political pressure

The atmosphere in the upper floors of the Rubik’s cube-like Petrobras building on Avenida República do Chile in downtown Rio de Janeiro was that of a sinking ship this week. The talk in the hallways was that the new president of the state-owned oil company, Caio Mario Paes de Andrade, was already making phone calls in search of substitutes for the entire board of directors. Two of them are reportedly not waiting until they get the boot and are negotiating jobs elsewhere.

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