Petrobras (PBR -7.9%) shares slide after reporting a sharp drop in earnings and a management...

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

Petrobras (PBR -7.9%) shares slide after reporting a sharp drop in earnings and a management shakeup. Q4 net profit fell to 5.05B Brazilian reais ($2.93B) from 10.6B reais a year ago due to supply chain problems which led to a production decline. Also, several high-level executives were replaced following the appointment of a new chief executive.