June 2, 2016 / 2:32 PM / in 2 years

New chief of Brazil's Petrobras says against a govt bailout

RIO DE JANEIRO, June 2 (Reuters) - Pedro Parente, the new chief executive of Brazil’s Petrobras, said on Thursday that he is against a government bailout of the state-run oil company.

Speaking at a swearing-in ceremony in Rio de Janeiro, Parente said his priority is to restore the company to financial health, revive its ability to invest and ensure that strong profits for shareholders, including the state, are how the company contributes to Brazilian society. (Writing by Paulo Prada; Editing by Chizu Nomiyama)

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