This content is not available in your region

Brazil's Petrobras has lost credibility - CEO

Access to the comments Comments
Brazil's Petrobras has lost credibility - CEO
Text size Aa Aa

RIO DE JANEIRO (Reuters) – Brazil’s state oil company Petroleo Brasileiro <PETR4.SA> has lost credibility, Chief Executive Officer Pedro Parente said on Tuesday, after the government promised to stabilize diesel prices to placate truckers whose strike has paralysed the nation.

However, Parente said a government plan to tax diesel imports will give Petrobras the opportunity to choose whether to prioritize margin or market share in fuel sales.

(Reporting by Roberto Samora and Alexandra Alper; Editing by Marguerita Choy)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.