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Brazil's Petrobras says fuel theft costs exceed $39 million

RIO DE JANEIRO, June 7 (Reuters) - The cost of fuel thefts taking place in oil and gas pipelines operated by Brazil's state-controlled Petroleo Brasileiro SA exceed 150 million reais ($38.92 million) a year, a company executive said on Friday at a corporate event.

Petrobras, as the company is known, also said it was hoping to reduce fuel theft by 75% by 2021. ($1 = 3.8537 reais) (Reporting by Gram Slattery)