New Petrobras CEO Says Political Meddling in Company is Over

The new CEO of Petrobras, Pedro Parente, said on Wednesday that political interference in the state-run company will come to an end and vowed to restore the indebted firm to financial health.

 

Parente, who took office at a ceremony in Brasilia on Wednesday, said Petrobras will sell assets to reduce its debt and not rely on a government bailout. He told reporters that fuel prices will be decided according to the company's interests and not government priorities.

 

"There will be no government interference. That is over," he said.


(Reporting by Alonso Soto; Editing by Chizu Nomiyama)