By Andrew Willis, Senior Contributing Reporter
RIO DE JANEIRO, BRAZIL – Government-imposed price caps on fuel sold in Brazil continue to cause difficulties for state-led oil firm Petrobras, despite a surge in income during the fourth quarter of 2012. Chief executive Maria das Graças Foster has reportedly warned the government that rising debt levels, linked to the cap on fuel prices, could threaten the firm’s investment grade credit rating.
Unless gasoline and diesel prices are increased, debt levels at Petrobras will rise well above the company’s internal target, Foster said in a meeting with Brazil's . . .