The chief executive of Petrobras has been fired following tensions with the leftwing Luiz Inácio Lula da Silva administration, which has sought to exert greater influence over the state-controlled oil major.
Jean Paul Prates offered his resignation to the board of the $108bn-valued company, Petrobras said on Tuesday evening.
The decision to replace the top manager of Latin America’s largest oil producer was taken by the government, according to two people with direct knowledge of the matter.
Prates is a politician from the same party as Lula and was appointed to the job after the leftist’s election victory in 2022.
Petrobras’ American depositary receipts were down 6 per cent in after-hours trading following the news.
