By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Trying to ease uncertainty after the resignation of Petrobras president Pedro Parente on Friday morning, Brazilian President, Michel Temer, announced Parente’s successor and stated that the government will not interfere in fuel price policies.

Parente's decision to leave the command of one of Brazil’s largest state-owned company led to severe volatility in Brazil's Stock Market (BOVESPA), which fell by more than 1.6 percent before closing up by 0.63 percent. Petrobras shares, however, registered a loss of 14.9 percent on Friday due to . . .

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