The Oil Industry 's Major Player Petrobras

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The article of discussion is been published in The Economist on 7th Feb 2015, it’s about the Brazil’s oil industry’s major player Petrobras ( 'Pitfall at Petrobras ', 2015). Petrobras is tangled in scandals money laundering, commissions paid to politicians for favour’s, and targeted for artificially inflating the company real vale from the investor to raise debit which eventually led for the resignation of the only women CEO of oil an company .Will the change in such top ranking official fix the problems of this oil giant and how will it effects on its economy, global image and future investments, in such a volatile market were the price of oil is highly dependent on the consumer demand internationally. Real change in company’s culture & strong Global leadership skilled CEO (Expert power) is needed to bring the change.

The reducing oil prices in the past months & over production by OPEC nations, new oil field breakthrough done by other nations has kept the price of the crude oil to its lowest since the GFC. World is heavily dependent on oil and gas to meet its energy and other demands, which is met by few oil & gas producing countries who has this natural resource in abundance and brazil is one of them, it hold 15.6 billion barrels proven oil reserves as per oil regulatory authority, comes next to Venezuela in South America. Most of the reserves are offshore hidden deep beneath the ocean bed known as Presalt oil which makes 94% of the total Brazilian

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