Petrobras CEO Says Gasoline Prices Lag Expectations, Globo Says

Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA, said Brazil’s gasoline price increases are about 6 percent lower than forecast, O Globo reported.

Petrobras expected prices to increase by 15 percent between 2012 and 2016, and so far, prices have risen 7.83 percent, O Globo cited her as saying. Increasing gasoline prices as much as possible next year would be beneficial to Petrobras, Foster told O Globo.

Petrobras wants to retain its exploration and production division in Argentina while divesting from other areas of that country, Foster told O Globo. Petrobras also expects to take on $18 billion in debt next year, Foster said.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE