MercoPress. South Atlantic News Agency
Petrobras releases long delayed 3Q results but did not include reserves for corruption scandal
Brazil’s embattled Petrobras released its long delayed third quarter results Wednesday but did not include any reserves tied to an ongoing corruption scandal that has already landed three former executives in jail. The company recorded a third quarter 2014 net profit of 1.18 billion dollars, down from 1.32 billion during the same period last year. Read full article
Comments
Disclaimer & comment rulesThey're going to get de-listed from NYSE.
Jan 29th, 2015 - 01:18 pm - Link - Report abuse 0They need U$20B loan to stay out of bankruptcy.
As PertroBras goes so goes Brazil.
:)
No brasshole comments......he's been a ghost like tobi.
Jan 29th, 2015 - 01:34 pm - Link - Report abuse 0Ficticious numbers that don't, in any way, represent the shite the company is in. But it will survive, even if the PT controlled government has to steal taxpayer money to prevent it from going under.
Jan 29th, 2015 - 03:38 pm - Link - Report abuse 03. They can't let it go bankrupt but I am sure it will be dlisted. Which means their days of easy financing are gone.
Jan 29th, 2015 - 07:41 pm - Link - Report abuse 0Either way Brazil seems screwed for a while. If Petrobras goes under horrible for Brazil, if Government rescues Petrobras and dolls out cheap finance through BNDES then uproar and accounts take a hammering and horrible for Brazil.
Jan 29th, 2015 - 07:43 pm - Link - Report abuse 0LIEING CHEATING CORRUPT PROTECTIONIST GOVERNMENT HAS CAUSED THIS DEBACLE WHICH AFFECTS ALL BRAZILIANS (INCLUDING THE HONEST ONES)
@3 yb
Jan 29th, 2015 - 08:47 pm - Link - Report abuse 0Agree. No more being Mr. Nice Guy with PB.
@5 Tik Tok
The Federal Government will never let their State run company go bust. To the PT is it a matter of honour to keep it State-run, at any cost - to the people of Brazil. If it were any other government (not controlled by these incompetent a.holes) they might let it go down the drain to the point that its only salvation would be privatization. FHC, in 2001, realized, that to be well-run and profitable, the State had to stop controlling it, thus the privatization. When Lula came to power in 2003, and being the stinking ignoramus and leftist a.hole that he is, he used the sub-salt shite as an excuse, and nationalized it again, through a dirty accounting gimmick, in which PB got screwed, as control changed hands without the company receiving one cent in capitalization for the shares that gave the government control again. As to the BNDES, it has financed dozens of projects throughout Latin America, at highly subsidized interest rates, so the probability of the government resorting to the bank to bail PB out of the shite, is quite a likely option. So, once again, the people must pay for those f*ckers' incompetence and thievery.
I think they've already said that BNDES is going to give them massive loan guarantees so there was a threat of bankruptcy.
Jan 29th, 2015 - 10:19 pm - Link - Report abuse 0I'm not sure whether the management of Pretrobras understand the gravity of the situation. I think they will need to be much more forthcoming and proactive than they have been in order to solve this problem.
Jan 30th, 2015 - 03:38 am - Link - Report abuse 0I am sure they will after they are de-listed.
Jan 30th, 2015 - 10:05 am - Link - Report abuse 0The probably think this corruption scandal ends in Brazil and it will be swept under the rug to protect the politicians.
Jan 30th, 2015 - 11:58 am - Link - Report abuse 0The investigation has only begun in the USA
and its not going away
@8 Hippy
Jan 30th, 2015 - 09:02 pm - Link - Report abuse 0Rest assured, the top management (or MISmanagement) of PB is fully aware of the 'gravity of the situation'.......but true to Brazilian style, they still believe that they will not be held responsible for any of the company's mishaps - all they have to do is deny knowledge of any wrongdoing - that the shareholders will suck up their billions in losses and keep quiet, and that the investigations will lead nowhwere - of course, “with a little help from their friends” in government. Nobody in the Federal Government could give a shite about Brazil or its insitutions. The only thing they believe in is stealing and impunity,
http://en.mercopress.com/2015/01/29/petrobras-releases-long-delayed-3q-results-but-did-not-include-reserves-for-corruption-scandal#comment377957: De listing is not very probable.
Jan 31st, 2015 - 02:43 am - Link - Report abuse 012. When have you ever been right about anything?
Jan 31st, 2015 - 01:47 pm - Link - Report abuse 0You're one of the stupidest posters on this board.
Hep C is the only troll around posting. Hep must be the only troll in Argentina with electricity.
Jan 31st, 2015 - 03:06 pm - Link - Report abuse 0In the neighborhoods that scream the loudest about not having electricity for a week they move a diesel generator to the area.
Jan 31st, 2015 - 03:15 pm - Link - Report abuse 0Can you imagine a city of 15MM people with diesel generators all over the place?
The pollution and noise must be incredible.
I can't wait until it all collapses.
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