May 29, 2018 / 6:40 PM / in 19 days

Brazil's Petrobras has lost credibility -CEO

RIO DE JANEIRO, May 29 (Reuters) - Brazil’s state oil company Petroleo Brasileiro 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 paralyzed 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)

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