At Brazil’s Petrobras, a ‘Chicago Boy’ takes the reins

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Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil’s Petroleo Brasileiro SA (PETR4.SA), will either save the indebted oil major – or strip it to the bone.

Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras – as the company is known – should be privatized, a hardcore proposal even in an administration packed with free market advocates.

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