RIO DE JANEIRO (Reuters) – Joaquim Silva e Luna, the chief executive of Brazilian state-run oil company Petrobras, said on Monday he will not leave the company at the moment, despite facing widespread political criticism over a fuel price hike announced last week.
Luna, who is a retired army general, compared Petroleo Brasileiro SA’s effort to raise prices to a “battle.” He also said in an interview with Reuters that the move was needed, or the country could have faced the risk of fuel shortages.
(Reporting by Rodrigo Viga Gaier; Writing by Gabriel Araujo)
