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Parente says he will remain Petrobras CEO despite strike over diesel prices

Pedro Parente, the CEO of Petroleo Brasileiro S.A., or Petrobras, said May 24 that he will not step down despite a trucker strike over the company's diesel prices.

The question of his departure was raised at the company's May 24 analyst meeting after it was announced that Petrobras would temporarily cut its diesel prices by 10% for 15 days to allow the government and truckers' representatives time to hammer out a deal.

The company remains on track to ramp up divestments as part of a wider strategic plan to cut debt. Petrobras announced May 23 that it plans to sell partial, non-operating interests in four concessions in the deepwater Sergipe-Alagoas Basin.

The interests in the fields range from 20% to 50%. To date, there have been six discoveries of light oil and gas at the concessions: Barra, Farfan, Muriú, Moita Bonita, Poço Verde and Cumbe.