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Petrobras board nominee Forman declines post

The logo of Brazil's state-run oil company Petrobras is pictured at a gas station in Natal, Brazil November 19, 2018. REUTERS/Paulo Whitaker/File Photo

SAO PAULO (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday that oil industry veteran John Forman had declined the government's nomination to join the board of the company, as the firm is known.

Forman was fined by Brazilian securities regulator CVM in 2016 for insider trading, according to documents seen by Reuters.

(Reporting by Marcelo Rochabrun, editing by Louise Heavens)