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Petrobras' board member resigns for personal reasons

State-run Petroleo Brasileiro S.A., or Petrobras, said Jose Alberto De Paula Torres Lima has resigned from the company's board of directors due to personal reasons.

The company has been hit with striking oil and trucking workers over the company's diesel prices, among other things.

Petrobras President and CEO Pedro Parente said May 24 that he would not step down despite the recent strife at the company.

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 a brief period 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, nonoperating interests in four concessions in the deepwater Sergipe-Alagoas Basin.