Brazil's Rousseff stands by Petrobras CEO, says pessimism overblown
BRASILIA Dec 22 (Reuters) - Brazil's President Dilma Rousseff said on Monday that she has no plans to replace the chief executive of state-run oil firm Petrobras, saying there is no evidence that senior management was involved in a high-profile graft scandal at the company.
Speaking at a year-end breakfast with reporters in Brasilia, Rousseff also said the pessimism surrounding Petroleo Brasileiro SA, as the company is formally known, was overblown and that the recent plunge in Petrobras shares was exaggerated.
She added that the company remained well-positioned to weather the drop in oil prices and has enough cash to get through 2015 without tapping international capital markets, if need be. (Reporting by Jeferson Ribeiro; Writing by Anthony Boadle; Editing by Chizu Nomiyama)
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