Gelonghui, May 15 | Petrobras (PBR.US) U.S. stocks fell 6.4% before the market opened, closing at $15.62.
According to the news, Brazilian President Lula has fired Petrobras CEO Jean Paul Prates. Former National Petroleum Administration Director Magda Chambriat will take over.
Prates expressed his willingness to resign on Tuesday.
Investors are concerned the company could be subject to more political interference.
Petrobras fell more than 6.4% before the market opened. The company’s CEO was fired by Brazilian President Lula
Gelonghui, May 15 | Petrobras (PBR.US) U.S. stocks fell 6.4% before the market opened, at $15.62
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