Petrobras Board Member Resigns From Brazilian Oil Giant

Petrobras board member Efrain Pereira da Cruz resigned from his position at Brazil’s state-controlled oil company last week, according to two people with knowledge of the situation who requested anonymity because the move has not been publicly announced.

Cruz had served on the board of directors of Petroleo Brasileiro SA, as the company is formally known, since April 2023, when he was among the nominees Brazil’s government backed even though they failed to pass the company’s internal audits. He had been found ineligible due to recent political ties.

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