Some big international investors have been selling shares in Brazil’s state-run oil company Petróleo Brasileiro SA, or Petrobras, as the company faces the biggest crisis of its history amid corruption allegations. Investors including Soros Fund Management LLC, which invests for billionaire investor George Soros and his family; BlackRock Fund Advisors; and Fidelity Management Research Co., cut their stakes in the Brazilian company in the fourth quarter, when the corruption scandal gained force. “Big international investors prefer to stay away from Petrobras because the uncertainty surrounding the company is huge. So they’ve opted to take a conservative path until they see a clearer scenario for the company,” said João Pedro Brugger, a portfolio manager at Leme Investimentos, based in Florianopolis. Mr. Brugger said his company owns shares in Petrobras as part of a portfolio matching Brazil’s Ibovespa stocks index. Soros slashed its stake in Petrobras by 60% to 2 […]