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Legal, political headwinds gather for Petrobras despite rising oil prices

Reuters  |  RIO DE JANEIRO 

By Alexandra AlperRIO DE JANEIRO(Reuters) - Rising crude prices should buoy quarterly results at Petrobrasbut Brazil's state-controlled oil company faces questions about its future given recently imposed fuel price controls as well as legal and political obstacles to asset sales. Petroleo Brasileiro SA's second-quarter results on Friday will come just two months after a nationwide trucker strike over rising diesel prices forced Brazil to begin subsidizing Petrobras diesel sales. The move sparked concerns about renewed political meddling and drove investor darling Pedro Parente to resign as ...

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First Published: Thu, August 02 2018. 22:22 IST
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