Magda Chambriard sworn in as new Petrobras chief amidst concerns of increased government intervention

Magda Chambriard was sworn in as the head of Brazil's state-run oil giant Petrobras amid concerns of increased government intervention. The market is skeptical of Chambriard's approach, fearing government interventionism dating back to the "Car Wash" investigation. The investigation aimed to dismantle and privatize Petrobras, but recent revelations of collusion have tainted its credibility. Petrobras, with a controlling stake by the government, faces a clash of interests between national development and maximizing profits for minority shareholders. Chambriard, like her predecessor, supports oil and gas exploration in the environmentally sensitive Equatorial Margin region. The company's profitability is crucial for investments and public spending in Brazil.