Petrobras CEO resisting pressure from Bolsonaro to resign: Sources

(Reuters) – The chief executive of Brazil’s state-led oil company Petrobras is resisting pressure from President Jair Bolsonaro to resign following tensions over rising fuel prices, two sources with direct knowledge of the matter told Reuters.

Roberto Castello Branco was appointed CEO of Petroleo Brasileiro SA, as the state-controlled firm is known, when Bolsonaro took office at the start of 2019.

While the president has expressed sympathy for truckers threatening to strike over higher diesel prices, Castello Branco has said their complaints are not the company’s problem and insisted that Petrobras will set prices independently of political pressure.

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