Petrobras says board member proposals on fuel pricing were not discussed (updated)

Petros Petropoulos SA

20/06/2022 12:51

(Adds details, context)
    SAO PAULO, June 20 (Reuters) - Brazilian state-run oil
company Petrobras  PETR4.SA  acknowledged on Monday that board
member Francisco Petros has proposed new measures for the
company's fuel pricing, but that those were not discussed
internally.
    Reuters had reported on Friday, citing three sources with
knowledge of the matter, that Petros proposed freezing fuel
prices for 45 days.
    One of the conditions of the temporary price freeze would be
for the government to withdraw its nomination of a senior
economic official as the company's new chief executive, as well
reversing its newly appointed board members, according to the
sources.  urn:newsml:reuters.com:*:nL1N2Y431N
    Petrobras said in a securities filing it had became aware of
a letter written by Petros on June 17, but that the move was a
"personal initiative with proposals from said board member that
were not discussed internally".
    Petros' proposal came just hours after Petrobras announced
it was raising fuel prices, sparking outrage among Brazil's top
politicians.  urn:newsml:reuters.com:*:nL1N2Y414J

 (Reporting by Gabriel Araujo, Editing by Louise Heavens)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5644 7745;))