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Petrobras' CEO's resignation could lead to long term positive changes in sector

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Report summary

Brazilian President Dilma Rousseff finally accepted the resignation of Petrobras CEO, Maria Graças Foster, following the revelation of the magnitude of a corruption scandal involving the NOC. While the fallout from the Lava Jato scheme is likely to hang over the rest of her term, signs of pragmatism from the economics team are increasingly evident. Many now hope that the same pragmatism will take root within Petrobras and governance over the oil & gas sector following the new CEO's appointment.

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