Business

Petrobras CEO Pedro Parente resigns

pedro parente petrobras ceo
Pedro Parente will step down as Petrobras CEO. Photo: ABr

Pedro Parente has reportedly resigned from his position as Petrobras CEO. He informed President Michel Temer of his decision during a meeting in Brasília. While there are no details of his decision at this moment, it is probably related to the company’s pricing policy.

Since mid-2016, Petrobras‘s pricing policy has reflected the fluctuations of oil prices in the international market. The price updates were monthly, but in July 2017 started to happen almost on a daily basis. In May alone, fuel prices had gone up by 16 percent (until the beginning of the truckers’ strike).

Last week, Parente had declared that if...

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