Petrobras respects minority shareholders again: board member

Minority shareholders of Brazilian state oil giant Petroleo Brasileiro are respected again under the leadership of Chief Executive Pedro Parente, and management is on the same page, a company board member said.

Marcelo Mesquita, who has represented holders of common shares on Petrobras’ board for almost a year, said that investors are now certain that the company is not “an instrument of public policy,” despite lingering concerns about debt reduction and internal bureaucracy.

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