September 25, 2018 / 2:39 PM / a month ago

Raizen CEO hopes for end of "crazy" Brazil diesel subsidy scheme

SAO PAULO, Sept 25 (Reuters) - Raízen, Brazil’s second-largest fuel distributor, is hoping that a government-sponsored diesel subsidy scheme will expire at the end of the year, Chief Executive Luis Henrique Guimarães said on Tuesday.

“I hope that by the end of the year we will see an end for this crazy program, so we can start making money again,” Guimarães said during a presentation at the Rio Oil & Gas seminar. Raízen is a 50-50 joint venture between Royal Dutch Shell Plc and Cosan SA Indústria e Comércio .

Reporting by Marcelo Teixeira; Editing by Christian Plumb

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