The Traderszone Network

Published in TZ Latest News 10 February, 2015 by The TZ Newswire Staff

Petrobras CEO says has ‘full autonomy’, questions graft loss

The new chief executive officer of Brazil’s Petrobras said on Tuesday that he has full autonomy to dictate its own fuel-pricing policy and protect cash, even as he questioned the size of losses stemming from a giant corruption scandal. In his first public statements since he was named CEO on Friday, Aldemir Bendine said no decision had been taken on whether Petroleo Brasileiro SA, as the company is formally known, will book 88.6 billion reais ($31 billion) of potential asset writedowns outlined in notes to its unaudited third-quarter results in January.