New Petrobras boss seeks free-market 'efficiency' for oil giant

"Monopolies restrict liberty," Roberto Castello Branco told a crowd of officials and Petrobras executives on the day he took up his functions. Petrobras a couple of years ago "was looted by a criminal organization made up of corrupt politicians, enemies of capitalism, and a small group of employees," he said. The harsh words referred to a sprawling, multi-billion-dollar corruption scandal implicating Petrobras and political parties, including those from the Workers Party that ruled Brazil from 2003-2016.

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