Top Woman in Oil to Oversee $225 Billion Plan at Petrobras
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Maria das Gracas Foster, the first woman named to run one of the world’s top five oil companies, will take over the industry’s largest investment plan with Petroleo Brasileiro SA’s $225 billion proposal to more than double its output by the end of the decade.
Petrobras, as the world’s fifth-largest oil producer by market value is known, yesterday announced the decision to promote Foster to chief executive officer after Jose Sergio Gabrielli resigned to pursue a career in politics. A 34-year veteran of the Rio de Janeiro-based company, Foster currently runs the natural-gas and power division, Petrobras’s fastest growing area last year.