In the past, Brazil’s massive state-owned oil company Petroleo Brasileiro SA (Petrobras) has operated at the whim of Brazilian politics, a volatile model to say the least. After years of corruption scandals and rapid power shifts, Petrobras may finally find some stability with its new chief executive officer Roberto Castello Branco, an economist, a former Petrobras board member, and an avid advocate for privatization. Economic analysts are already predicting that previously prohibitive downside risks of Petrobras stocks will be majorly diminished. Current CEO Ivan Monteiro isn’t scheduled to surrender his position until January 1st, but already, just in the time since the announced appointment of Castello Branco, Petrobras stock has already increased nearly 2 percent. (Click to enlarge) Castello Branco was appointed on Monday by Brazil’s far-right president-elect Jair Bolsonaro, a fellow pro-market reformer. Before his tenure on the Petrobras board in 2015 and 2016, Castello Branco spent 15 […]