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MORE: Petrobras Doesn’t Need Price Rise With Current FX, Crude

Nov. 21 (Bloomberg) -- Co. is increasing production of refined products, CEO Maria das Gracas Foster told reporters in Brasilia. * Co. has a comfortable cash position and will meet its investment target for 2012 * Stock extended decline in Sao Paulo, down 1.93 percent * “Lets assume that Brent falls, like it did in 2009, we won’t have a fuel price increase,” Foster said when asked about fuel prices. “What I’m making absolutely clear is that today there is a perfect harmony between Petrobras’s healthy cash flow and its capacity to invest.”

To contact the reporter on this story: Mario Sergio Lima in Brasilia Newsroom at

To contact the editor responsible for this story: Peter Millard at

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