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The newspaper O Estado de S. Paulo claims President-elect Rousseff will keep Jose Sergio Gabrielli (pictured) as chief executive of Petrobras for at least another year.
The paper says President Lula da Silva advised Rousseff to keep Gabrielli through 2011 to overhaul oil industry rules.
At a conference in Rio, Gabrielli defended planned heavy domestic refining investments in the next five years to avoid relying on foreign refiners as fuel consumption soars.
"Brasil could specialize in producing oil, exporting it to China, and then importing diesel, but that's insane. It doesn't make sense to do that if you can build a refinery here and boost flexibility, reduce risk, and reduce the possibility of predatory (actions) in the market," he said.
FOR REFINING STORY, SEE:
http://uk.reuters.com/article/idUKTRE6AL2TD20101122
