MercoPress. South Atlantic News Agency

Petrobras CEO Coelho bows to pressure and resigns

After barely 40 days on the job, José Mauro Coelho resigned as CEO of Brazil's state-run oil company Petrobras due to pressure from President Jair Bolsonaro and other politicians over a recent increase in the price of fuel, which drives inflation upwards ahead of the Oct. 2 elections. Bolsonaro had dubbed the price hike a “betrayal” of the Brazilian people. Read full article