MercoPress. South Atlantic News Agency
Petrobras shares soar 15% ahead of CEO's and senior managers removal
Brazilian President Dilma Rousseff will replace the chief executive and other senior managers at state-run oil company Petrobras later this month in an effort to turn the page on the widening corruption scandal. Petrobras shares jumped more than 15%, their biggest one-day gain in 16 years, after Folha do Sao Paulo first reported that Rousseff intended to replace CEO Maria das Graças Foster. Read full article
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Disclaimer & comment rulesTough personal call for Rousseff, but the best one for Petrobras and Brazil in the long run.
Feb 04th, 2015 - 09:29 am - Link - Report abuse 0Ho ho ho. One crook selects her new set of sub-crooks.
Feb 04th, 2015 - 11:14 am - Link - Report abuse 0“ best accounting methods” says it all really
Feb 04th, 2015 - 11:29 am - Link - Report abuse 0She'll always be able to get a job in the Wizard of Oz as wicked witch of the west - she's a dead ringer for the role.
Feb 04th, 2015 - 02:37 pm - Link - Report abuse 0Perhaps Dilma can star as one of the munchkins....
Great to see the fat B get screwed. She had it coming.....hope she's the next one to step down.
Feb 04th, 2015 - 03:01 pm - Link - Report abuse 0At least Foster had the neccessary technical qualifications for the role of CEO of a major petro-chemical company.
Feb 04th, 2015 - 04:44 pm - Link - Report abuse 0I bet the next one can hardly read or write.
At least he / she will be on Lula's level.
A scapegoat of convenience for President Dilma.
Feb 04th, 2015 - 05:12 pm - Link - Report abuse 0Both President Dilma and former CEO Foster claim no knowledge of any corruption at Petrobras. No one here believes any of this, of course.
“... political kickback scheme that allegedly benefited Rousseff's ruling Workers' Party as well as others”
Feb 04th, 2015 - 10:15 pm - Link - Report abuse 0Would this be the money that bought the election for Morales? (allegedly).
“Rousseff is also personally concerned with Foster.”
Oh I bet she was!
“The president has trusted the CEO since she was chief of Petrobras Council and a Minister during Lula da Silva's administration.”
Trusted? Trusted!!! A possible $28 billion missing? A Dilma trusted her, and wanted to keep her on board? Doesn't say much for Dilma's judgement does it? Unless she knew, of course.
“ Reports say Foster is under severe emotional pressure because of the case. ”
oh the poor lamb! If you are the CEO of a massive company that has 'lost' $28 billion you just might be expected to feel a little 'pressure', emotional or otherwise. Did you think you were going to be spending just another day at the Spa?
At least Brazil remains competitive. Petrobas by 'losing' $28 billion has beaten their ideological bedfellows in Venezuela whose similarly state-owned PDVSA has only 'misplaced' $25 billion.
(disclaimer: figures from 2013 as no recent figures from Vnzla due to govt suppression in recent months, possibly vnzla is in the lead?)
An excellent point ilsen:
Feb 05th, 2015 - 12:26 am - Link - Report abuse 0Brasil: “ Losing ” R$ 28 Billion ( Veja believes it to be higher, at R$ 54 MM )Portuguese translation.
Venezuela:: “ Misplaced ” $ 25 Million. Spanish translation.
Both are massive funds stolen from State owned petroleum companies, with revenues to the Povo ( People ), who need it, but will never see it.
So yes, our neighbor to the North does share something in common with us.
Corruption.
@ 9 BOTINHO
Feb 05th, 2015 - 12:49 am - Link - Report abuse 0I have witnessed this in Vnzla very recently. My family see it every day.
Corruption.
Vnzla has more oil than Saudi Arabia, but is so broke it is begging China for loans.
Why?
Corruption.
Where will the new money go?
Corruption.
I am so sick of this.
With this 9th phase of investigations of the “Operação Lava-Jato” (Operation Car- Wash) just starting, the Federal Police said that the preliminary investigations show that at least USD 200 milllion were funneled from PB straight to the coffers of the PT....and this is still only the tip of the iceberg we're seeing. Can't wait to see who the 40 odd politicians that have been named in the corruption scheme, are....
Feb 05th, 2015 - 09:48 pm - Link - Report abuse 0Staggering amounts of money/corruption/waste. Such selfishness from those concerned.
Feb 06th, 2015 - 01:39 am - Link - Report abuse 0Jack, you and I ought to put ties and a smile on and get in line too.
Feb 06th, 2015 - 02:51 am - Link - Report abuse 0@13 BOTINHO
Feb 06th, 2015 - 04:19 pm - Link - Report abuse 0Might be a good idea.....we could affiliate ourselves to the PT, speak out against everything rational, praise Dilma and Lula, and then wait to be appointed to some high position in a government agency, where we could steal all the taxpayers' money...if caught, just deny any wrongdoing.......after which, flee from Brazil and enjoy the loot.
The “soaring” was short lived.
Feb 06th, 2015 - 08:22 pm - Link - Report abuse 0Heading back into the 5s
One could always suggest dodgy banks, and investment “opportunities ” in Argentina of course, but I could never say such a thing.
Feb 06th, 2015 - 08:29 pm - Link - Report abuse 0- House of Cards ( UK-not the Yanqui version)
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