Brazil’s state-run oil company, Petrobras, has failed to present its board of directors with a promised plan to bring domestic fuel prices in line with world levels, three sources with direct knowledge of the situation told Reuters.
The lack of a policy threatens the company’s already-fragile finances and could delay efforts to sell refineries and other assets, said the sources, who asked for anonymity because they are not authorized to talk to the media.
Petroleo Brasileiro SA, as Petrobras is formally known, has promised to sell $15.1 billion of assets by the end of 2016 and reduce its $120 billion debt, the largest of any oil company
Brazil Energy Insight 
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