Brazil’s Petrobras Management Under Political Attack, CEO Says

Brazil’s oil giant Petrobras was hit by a “rampant” though “ineffective” campaign to destabilize its current management over the last week, Chief Executive Officer Jean Paul Prates said Sunday.

Prates mentioned accusations that the state-owned company hasn’t been emphatic enough in defending the exploratory campaign at Foz do Amazonas basin, in the so-called Equatorial Margin, an offshore region that’s a key part of its business plan. In May, Brazil’s environmental authority rejected the company’s request to drill its first well in the area.