Petrobras oil platforms off the north-east coast of Brazil have halted production after a leak of about 44 barrels (7000 liters) of oil was detected coming from a pipeline linking them, a local oil workers union head said over the weekend.
The Brazilian judge overseeing the investigation into alleged corruption at Petrobras on Wednesday convicted eight people of crimes related to kickbacks and bribery. Judge Sergio Moro found former Petrobras executive Paulo Roberto Costa and currency dealer Alberto Youssef guilty of money laundering, and Mr. Costa of belonging to a criminal organization.
With the release of audited financials, Brazilian oil giant Petrobras believes it has started to normalize its relationship with investors and to implement better corporate governance in the wake of the financial scandal that has rocked the company, its chief financial officer said on Thursday.
Brazil's economy added jobs in March for the first time since November, government data showed on Thursday, suggesting the country's likely recession may not be as severe as many economists feared. Factories, farms and services companies in Brazil added a net 19,282 jobs in March, the Labor Ministry said, topping market expectations for 25,000 net firings.
Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50% by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal at a state-run oil company.
Brazil's state-run oil giant Petrobras which has been bashed by a wide-spread corruption scandal, reported on Wednesday a 2014 net loss of 21.6 billion Reais (7.2 billion dollars) after taking 50.8 billion Reais in charges.
Brazilian state-run oil company Petrobras approved a series of financial agreements with local and international banks that will meet its financing needs in 2015, the company announced. In a filing with local stock regulators, Petrobras said that the deals will provide the company with access to about 6.2 billion dollars, including a 3.5bn financing contract reached with China Development Bank on April 1.
Brazil is working with Congress on a broad agenda of structural changes to improve the business climate, increase productivity and set price signals correctly to stimulate investment, announced Finance minister Joaquim Levy in his speech to the International Monetary and Financial Committee (IMFC) this weekend.
A vice president of construction company Camargo Correa told Brazilian prosecutors that he paid 36 million dollars in bribes to officials of state-controlled oil company Petrobras, the press reported, citing a document prepared by prosecutors.
Brazil's minister of defense Jacques Wagner questioned Argentina's approach to China regarding military procurement, but discarded any conflict with Buenos Aires, since the country is a 'strategic and important partner' of Brazil. Apparently the issue was brought up by Jacques when he visited his counterpart Agustín Rossi in Buenos Aires last week.