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Dilma Rousseff questioned on “flawed” report that cost Petrobras 1.2bn

Thursday, March 20th 2014 - 06:57 UTC
Full article 16 comments

A scandal surrounding the costly acquisition of a Texas oil refinery by Brazilian state-run energy company Petrobras years ago resurfaced Wednesday after new questions arose about President Dilma Rousseff’s handling of the deal, which involved a sum of 1.2bn dollars. Read full article

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  • Brasileiro

    Bad deal. We need to investigate thoroughly.

    Another matter. I think the dollar does not meet our needs. It's a very volatile currency. China and Brazil will use their own currencies in trade.

    http://economia.elpais.com/economia/2014/03/19/agencias/1395266405_610941.html

    Mar 20th, 2014 - 11:50 am - Link - Report abuse 0
  • golfcronie

    @1
    Not as volatile as the Chinese and Brazilian currencies. Who in hell wants Brazilian currency, only the Venuzalians to wipe their arses.

    Mar 20th, 2014 - 12:26 pm - Link - Report abuse 0
  • Fido Dido

    “Who in hell wants Brazilian currency”

    The nations in the BRIC group and even the E.U. that wants to do business with Brazil outside the US dollar.

    “only the Venuzalians to wipe their arses.”
    You can't spell huh, government school has failed you. The US dollar is becoming slowly the piece of paper you will use to wipe your arse.

    Mar 20th, 2014 - 01:51 pm - Link - Report abuse 0
  • yankeeboy

    3. You must be the only idiot around still talking about the BRICs!
    Bahahaha

    Mar 20th, 2014 - 05:06 pm - Link - Report abuse 0
  • LatAmBurgher

    I'm lost on this one, MercoPress. Help me out: 1.2 billion / 42.5 million =3? THAT would be either a typo with your decimals or an impressive arithmetic error. You guys either need a better translator or a calculator.

    Mar 20th, 2014 - 05:48 pm - Link - Report abuse 0
  • ChrisR

    @ 5 LatAmBurgher

    The article does not give the amount that Petrobras expected to pay other than it was three times as much as anticipated, so presumably US$ 400 M (no currencies specified) though I expect a European deal would be done in Euros.

    But all that is irrelevant to the real problem of the usual graft and corruption in Brazil.

    At least Dilma learnt her lesson and appointed a qualified Industrial Chemist to run Petrobras and she seems to be doing a good job despite Dilma tying one hand behind her back because she is shit scared of Petrobras charging a commercial price for the fuels it produces and the petrol riots that would ensue: in an election year as well!

    Dog Dildo © Simon68 2012: still making stupid comments I see. The only idiots who want Reals are the same stupid pratts who want Bitcoins, and look what happened to them AGAIN! Managed to keep your Bitcoin safe did you? Ha, ha, ha.

    “You can't spell huh, government school has failed you. The US dollar is becoming slowly the piece of paper you will use to wipe your arse.”

    BAD grammar! The wording (if not the reality) should be “The US dollar is slowly becoming the...” But what can we expect from a Dutchman, skiving in the USA and hiding in Brazil before he goes back to the US on another of his six month visas?

    I do love it when you come on MP and make a complete cuelo of yourself, which is every time!

    Mar 20th, 2014 - 07:36 pm - Link - Report abuse 0
  • Brasileiro

    Dolar Out!
    Out Spies!

    https://www.youtube.com/watch?v=Dov_DwntjIQ&list=UUFn0o-IvrLrsCXcA0K2VVhw

    Mar 20th, 2014 - 08:38 pm - Link - Report abuse 0
  • Jack Bauer

    According to reports from reputable news sources, the Petrobras deal went down as follows ::- In 2006 Petrobras, chaired by Dilma, and presided by a staunch PT/Lula supporter (Mr. Gabrielli), decided to buy 50% of the shares of the Pasadena Refinery, which had cost its previous owner , Astra Oil Co., US$ 42.5 million for 100% of the shares, in 2005 ;
    For the 50% that Petrobras purchased, the company paid US$ 360 million.........You think this smells bad ?? just wait...
    In 2012, in order to get rid of internal disputes and lawsuits against their partner, Petrobrás decided to buy the remaining 50% of the refinery...which they did, for US$ 820 million. So, adding the cost of the two halves of the refinery, Petrobrás paid a total of US$ 1, 18 billion.
    So, from a value of US$ 42.5 million for 100% of the shares in 2005, Petrobras paid US$ 360 million for 50% of the shares only 1 year later, then another US$ 820 million for the remaining shares, in 2012. The final price Petrobrás paid was US$ 1,18 billion ...ONLY 27 times more.
    Now. ask me if the governing party PT (Gabrielli &Co, Lula) and Dilma weren't in cahoots to screw Petrobrás and take a faaaaaaaaaaat slice of the cake for themselves ??
    This WILL be investigated but as we say here, it'll end in pizza...I mean, WHO is going to be stupid enough to take on the FBoB ??

    Mar 21st, 2014 - 05:01 pm - Link - Report abuse 0
  • Brasileiro

    Pasadena was the largest exporter of diesel to Brazil. Although it is an outdated refinery, some technologies of production and refining were absorbed. We are using some of them in future Abreu e Lima refinery and COMPERJ. Price high. Benefit too.

    Mar 21st, 2014 - 11:54 pm - Link - Report abuse 0
  • Jack Bauer

    If the Pasadena Refinery was outdated - as per Brasileiro@9 - was Petrobrás technology so obsolete that outdated technology in the US was considered a breakthrough for Brazil ?? ...strange...
    Dilma is alleging that when she was on the Board of Petrobrás, and signed the deal to buy the Pasadena Refinery, she was only doing what her advisors told her to.....so she admits she was not really aware what she was signing ; despite the position she held - for which she received a huge salary - she obviously knew very little of the business of the company on whose Board she was sitting - or if she did - she then acted in a highly suspicious manner....no matter which way you look at her allegations, she has to go with being either an incompetent b*tch, or a corrupt one...

    Mar 22nd, 2014 - 05:57 pm - Link - Report abuse 0
  • BOTINHO

    Translated in English
    http://www1.folha.uol.com.br/internacional/en/brazil/2014/03/1428196-opinion-dilmas-petrobras.shtml

    I do not agree with all the conjectures in the article, but it gives a bit more facts behind the investigation. ( Tips by the way = bribes )

    Mar 24th, 2014 - 02:55 am - Link - Report abuse 0
  • Jack Bauer

    @11 Botinho, the article from the “FOLHA” states “”she voted as a Board Member in favour of a problematic business because she had based herself on information that was “incomplete” and apparently “technically and legally dubious.”....
    IF she knew anything about the oil business, and a BIG “IF” , she would have had to know the information was “incomplete and apparently technically and legally dubious”....and should have refused to sign off on the deal . If not, are we supposed to believe she had no idea what she was signing ? If so, not much better...
    But let's give her the benefit of the doubt, that she DID know what she was doing - which is the least we has the right to expect from someone in her position - then WHY DID she sign the deal ??? Will the “culprits” responsible for “giving her bad information” be charged ?? Will they keep their mouths shut (to save Dilma's ass) ???? the truth is chrystal clear but it will never be published.
    Her attempt to disassociate her name from this scandal, by throwing the other directors to the lions, is to be expected.....
    All the facts point to a dirty deal, designed by the heads of the PT (worker's party) and carried out by the top management of the company, with the sole purpose of stealing ...... a lot of money must have changed hands under the counter, and if anyone is to be blamed, it'll be the small fish...Dilma, Lula, and their cronies will come out of it smelling like roses.

    Mar 24th, 2014 - 04:31 pm - Link - Report abuse 0
  • BOTINHO

    Ola Jack Bauer -

    Based on the recent reversal in the Mensalão scandal corruption case, you are probably correct. In English:
    http://www1.folha.uol.com.br/internacional/en/brazil/2014/03/1425397-supreme-court-absolves-former-deputys-crime-ending-the-mensalao-trial.shtml

    Mar 24th, 2014 - 09:25 pm - Link - Report abuse 0
  • Jack Bauer

    @13, hello Botinho, tudo bem ??
    What leads me to believe that the Petrobrás scandal - and the “mensalão”, and other 'apparently' isolated cases of corruption over the past 10 years - which probably all started being planned on day 1 of Lula's first mandate - are all linked, is that they all have one thing in common : the PT....they all seem to be part of one big, concerted effort to steal as much they can in order to facilitate and to guarantee their perpetuation in power .
    Considering all the prison sentences handed down by the Supreme Court, one thing stands out very clearly - while the politicians who belong to the PT, and their cronies, ALL got very light sentences, those that do not (belong to the party), were awarded disproportionately heavy ones ....just compare J.Genuino, J.Dirceu and J.Cunha's prison terms (5 to 6 years in “regime semi-abert0”) to M.Valério's (40 odd years in “regime fechado”.....when you also take a closer look at the actions of two judges, R.Lewandowski and J.Toffoli, in that they sistematically tried to either aquit, or to excuse the defendants' crimes, you can see the PT working behind the scenes.
    Just one last observation : where did all the money come from to pay the lawyers' fees (which must have been expensive as hell) , and to pay the fines imposed upon Genuino and Dirceu ?? very suspicious indeed...

    Mar 26th, 2014 - 05:59 pm - Link - Report abuse 0
  • BOTINHO

    Ola JB-

    You are correct.

    The PT is relatively new, while corruption alas, is not, going back many generations.

    What is new is that people, even those in high places are now being arrested and sent to trial for corruption. Later pardoned perhaps, but that also occurs in many countries.

    Mar 26th, 2014 - 09:07 pm - Link - Report abuse 0
  • Jack Bauer

    @15 Botinho...
    I agree that corruption in Brazil is not the privilege of the PT...my first encounter with it, was with Adhemar de Barros (mayor of city of SP in the late 50's....). A real “cara de pau”....he publicly admitted to stealing, justifying it by arguing that he also spent some of the taxpayer money on the City...he also knew, the Law couldn't touch him.....Our good friend Maluf is another example. But in those days, corruption was more of a personal thing, restricted to very small groups (Senator Luis Estevão and “Lalau” - Forum Barra Funda), it did not involve a whole political party (as one of their goals), or a whole goverment structure, such as the PT has built over the last decade...and for a party (while the opposition) which claimed honesty was their main virtue, it is doubly disgraceful....The fact that a few politicians ARE getting punished now, is mainly the result of a few politicians (probably those not being benefited by the scheme as they believe they should...R.Jefferson ??) squealing to the authorities, and new technology to track the 'dirt', used by the Federal Police etc...I still think it is 'too little, too late', but is at least a light at the end of the tunnel .....“e que não seja um trem vindo na nossa direção” (and it better not be a train coming in our direction).

    Mar 27th, 2014 - 04:26 pm - Link - Report abuse 0

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