Petrobras says potential exit from Brazil bourse's good governance program would not weaken co

SAO PAULO: Brazilian state-run oil firm Petroleo Brasileiro SA said a potential end to its participation in a program certifying good governance set up by the Sao Paulo stock exchange would not weaken its corporate governance, according to a securities filing on Monday.

Reuters reported on Friday that Petrobras, as the company is known, is considering exiting from a Brazil bourse program that certifies good governance and limited political interference in state companies.

The company said that many important aspects of the program are already written into Petrobras bylaws.

Petrobras also said in the filing that it will keep investors informed in case it takes a definite decision regarding the exit from the governance program.