November 9, 2016 / 2:03 PM / 2 years ago

Petrobras says imports by competitors are cutting its market share

SAO PAULO, Nov 9 (Reuters) - Brazilian state-controlled oil company Petroleo Brasileiro SA, or Petrobras, said on Wednesday that increasing volumes of diesel and gasoline imports by competitors had reduced its market share in the local fuel market.

Petrobras Refining Director Jorge Celestino said the increase in fuel imports by other companies in Brazil in September and October forced the oil company to reduce the use of its refining structure. (Reporting by Rodrigo Viga Gaier; Writing by Marcelo Teixeira; Editing by Lisa Von Ahn)

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