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First Woman Named CEO Of Brazil's State Oil Co.

RENEE MONTAGNE, HOST:

NPR's business news starts with another powerful woman in Brazil.

The Brazilian state oil company has a new chief executive. Her name is Maria das Gracas Foster. Petrobras is the world's fifth-largest oil producer, and Foster becomes the first woman to run a top-five oil company. This comes as the firm looks to double its production by 2020.

The company's stocks surged on news of the appointment. Foster will be the second-most powerful woman in Brazil, after the president. Transcript provided by NPR, Copyright NPR.