RPT-UPDATE 1-Petrobras to have stable cash flow after price hikes:CEO

(Repeats story issued on Sunday with no changes to text)

* Brazil fuel price hikes to cushion impact from global volatile oil

* Brazil oil demand to grow 8-9 pct in 2011

* Oil demand growth at emerging economies to continue despite euro zone crisis

By Florence Tan

SINGAPORE, Oct 30 (Reuters) - Brazil's state-run Petrobras expects an increase in fuel sales revenue to cushion the impact of global oil price volatility once local prices are raised on Nov. 1, its CEO, Jose Sergio Gabrielli, said on Sunday.

"This gives a stable cash generation to the company regardless of international fluctuation in the price of oil," Gabrielli told Reuters on the sidelines of the Singapore International Energy Week conference.

Petrobras announced on Friday it was raising fuel prices for the first time since May 2008, a move welcomed by investors worried that government price controls to cool inflation will eat into the company's profit.

Brazil has a long-term pricing policy and does not pass on the daily fluctuations in oil prices to its market, Gabrielli said.

"However, we have to adjust the Brazilian price to the international price in the long run," he said.

Brazil's oil demand will grow at 8-9 percent this year, slightly slower than the "too strong" 10.5 percent growth posted in 2010, Gabrielli said.

The European crisis will not change the trend of a shift in geographical demand of the oil market from OECD countries to emerging countries, he said.

"Emerging countries are going to continue to grow unless we have a catastrophic recession in Europe which I don't think is going to happen," Gabrielli said.

(Editing by Ron Popeski; Asia Desk, Singapore +65 6870 3815)