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Brazil's state oil company Petrobras approved a new fuel pricing policy for gasoline and diesel that will sharply lower costs for motorists, it announced on Tuesday, ditching a more market-based policy in favor of greater flexibility to smooth price swings.
Brasilia, Jun 20 (Prensa Latina) The president of the Brazilian mixed-economy oil company Petrobras, José Mauro Coelho, resigned today in the face of new criticism from the far-right leader, Jair Bolsonaro, for the rise in fuel prices.
Commodity futures news: Brazilian president disposes of Petrobras CEO aEUR
Brazilian president Jair Bolsonaro has disposed of the company’s third CEO in two years, maintaining uncertainty in the company's leadership.
By Peter Millard (Bloomberg) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into...