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Petrobras still Latam's top company but fell to second-worst performer because of corruption losses

Wednesday, May 13th 2015 - 08:29 UTC
Full article 22 comments

Brazil's state oil giant Petrobras remains Latin America's top company in revenues, but has lost its position as the profit leader after posting record losses last year due to a growing corruption scandal and administrative inefficiencies, according to a new ranking of the region's 500 largest companies from digital publication Latinvex. Read full article


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  • ChrisR

    Petrobras: the biggest company bt revenue and the second Worst performer!

    Don't worry folks, the way it is going it will be the WORST performer with a fraction of the present value before you can say Lula and DumbAss Dilma.

    May 13th, 2015 - 11:33 am - Link - Report abuse 0
  • Brasileiro

    Another Brazilian success!

    May 13th, 2015 - 11:43 am - Link - Report abuse 0
  • yankeeboy
    The most expensive World Cup stadium — located in the capital, Brasilia, and with a price tag of $550 million — is being used as a parking lot for buses.

    The stadium in Cuiaba — which cost some $215 million to build — has made news repeatedly: first for being closed down because of faulty construction, and then recently for the homeless people squatting in its unused locker rooms.


    The stadium in Natal is trying to make money by hosting weddings and kids’ parties — with little luck. The company that owns it is putting it up for sale; it’s had cash flow problems after being implicated in the state oil scandal in Brazil.

    And the much touted Arena da Amazonia in Manaus, which costs $233,000 a month to run, also is being sold to the private sector — even though it was built primarily with public funds.

    most of the country lives in slums
    and they wonder why

    Stupid Marxist Monkeys thinking they're people

    May 13th, 2015 - 12:10 pm - Link - Report abuse 0
  • Brasileiro

    New record in the pre-salt.

    May 13th, 2015 - 01:02 pm - Link - Report abuse 0
  • yankeeboy

    4. How come with all this oil most of Brazil's population lives worse than the dogs in the USA?

    May 13th, 2015 - 01:05 pm - Link - Report abuse 0
  • ilsen

    Any news on PDVSA?

    No, thought not. The Chavista Goons are withholding the real facts and figures, but the reality can't be denied to the workers.
    The word is that oil unions might rebel against the Chavistas, (politically speaking! ).

    May 13th, 2015 - 02:28 pm - Link - Report abuse 0
  • Pugol-H

    @4 Brasileiro
    So, your biggest company is going down the Pemex road to being a complete crock of shit.

    Interest rates up, inflation up, poverty up, corruption of the scale.

    Things like production, exports etc. down.

    Explain how it is all going to rat shit over there?

    May 13th, 2015 - 03:06 pm - Link - Report abuse 0
  • Condorito

    “Chile accounted for 82 companies, with total revenues of $164 billion.”

    Little Chile punching big as always.

    May 13th, 2015 - 04:48 pm - Link - Report abuse 0
  • Pugol-H

    @8 Condorito
    In more ways than one, check out your ranking here!

    Compared to the rest of Latin America.

    May 13th, 2015 - 06:53 pm - Link - Report abuse 0
  • ChrisR

    Are the Olympics still going to be held in Brazil, the most corrupt country in the world?

    It's all gone very quite.

    May 13th, 2015 - 07:33 pm - Link - Report abuse 0
  • Jack Bauer

    @2&4 brASSHOLE idiot
    PB has a debt of 351 billion reais....which will take 20 years' profit to pay off....But if you, and Lula think that's OK, then it must be...what a dickhead !

    May 13th, 2015 - 09:39 pm - Link - Report abuse 0
  • Stevie

    They want Petrobras in private hands.
    They complain about corruption.
    They complain about corruption being dealt with.
    They even complain about Petrobras getting a recognition.

    They will complain until Petrobras is in private hands.

    Let them cry ther eyeballs out. Petrobras IS the people, in good and in bad.

    May 14th, 2015 - 05:17 am - Link - Report abuse 0
  • yankeeboy

    Like PDVSA Stevie? Now its we are ll PBR?

    What a stupid chavista you are.
    I hope someday you suffer the same as the people you claim to love so much.

    To me you look like a coward and a hypocrite.
    Probably to everyone else too

    everyone but you

    Stupid stilly chavisito

    May 14th, 2015 - 12:31 pm - Link - Report abuse 0
  • ChrisR

    @ 13 yankeeboy

    With comments like that from Breakdowns R Us, the next breakdown is well on the way.

    UNLESS of course he doesn't believe what he writes. Nobody, even a troll, can be that stupid.

    Except for his 'brother' BRASSO!

    They make a great pair, don't they.

    May 14th, 2015 - 05:16 pm - Link - Report abuse 0
  • yankeeboy

    14. There are plenty of dumb trolls on this board. Day in and day out I am amazed that these people have some sort of a daily existence.
    I sometimes wonder if they open a computer lab in the nut house for a few hours a day and that's where these people come from...

    May 14th, 2015 - 05:28 pm - Link - Report abuse 0
  • Jack Bauer

    @12 Stevie,
    Nowhere have I said that PB has to go back to being partially privatized, but since you mentioned it, allow me to educate you on the recent history of this company : In 2001, when it was 100% State-owned, its capital was opened to all workers, who enthusiastically invested part of their retirement funds in the company ; from then on, 49 % State owned and 51% in the hands of millions of workers, the company, under relatively competent management, went on to a market value of 700 billion reais (in 2005), with little outstanding debt. Lula, who became president in 2003, through a disgusting accounting gimmick in 2007, whereby the company didn't get one cent, he made the federal government main shareholder again, screwing millions of workers and started the “Lava-jato” scheme.....the company market value is now 90 billion reais, which means that shareholders, the government AND 'the people'...It lost 610 billion, and has a virtually unpayable debt....and all you have to say is people are pissed-off just because it is not privatized.....It does not need to be privatized, it needs to be run competently and not used politically....why the hell do you insist on commenting on what you know very little about ? If you love the brasshole so much, and want to sound as if you support his ignorance, invite him to spend a few days with you in Uruguay.

    May 14th, 2015 - 10:00 pm - Link - Report abuse 0
  • Stevie

    Screw your market values. Simple as that.
    Petrobras, ANCAP, UTE, OSE is not about profit. It's about making sure we all get access to what de need.

    Nationalize water, energy and infrastructure as well.
    Kick'em all out.

    Regardless of your market values.

    Your system is killing the planet.
    Try putting a market value on Mother Earth...

    May 15th, 2015 - 06:28 am - Link - Report abuse 0
  • yankeeboy

    Stevie, You're so stupid, can't you see that never works? Look to Venezuela to see what your failed policies bring “the people”. mastectomies rather than medicine, street fighting over toilet paper, 16000 violent deaths per year from Socialism.

    Why can't you learn?

    May 15th, 2015 - 11:36 am - Link - Report abuse 0
  • ChrisR

    @ 17 Breakdowns R Us

    Oh, dear!

    Do you realise that little rant used to come out just before your last breakdown?

    Not too long to go now by the look of it.

    Because you do not live in Uruguay, let me give you the latest on OSE (the nationwide water providers for those who do not know).

    We in the Maldonado area have suffered major water main failures (no water for FOUR days) on two occasions in the last six months and another one happened on Tuesday and flooded the village.

    A major “equipment failure” whatever that was, we were not told, FOUR days AGAIN just before the last season started.

    BUT, the BEST one of all: the stupid bastard who runs OSE (a Broad Fraud crook) POISONED the entire area with what we were told was an algae bloom from Laguna De Sauce AND we now find out that the run-off from farmland that No Money Pepe always claims is the most natural, chemical free country in SA has just exceeded the international poison level by an order of magnitude.

    ”It's about making sure we all get access to what de (SIC) need.“

    So YOU need poisoning then? Be my guest: oh, you DON'T live here do you?

    It is so bad that Vasquez has just signed a ”Presidential Decree” that OSE CANNOT issue bills for the period from 16th April UNTIL THE SITUATION IS RESOLVED (whenever that will be no-one knows).

    That, you clown, is the result of stupid political bastards in charge of important supplies.

    I bet your “brain” just boils with all the injustices you constantly blather on about whilst the rest of us have to cope with the reality.

    I spent UYU$ 1250 last month on bottled water: where is your sympathy for the 40% of Uruguayo who only earn UYU$ 1400 (less tax) a month?

    I sincerely hope your next breakdown is permanent, and the sooner the better, you despicable toad.

    May 15th, 2015 - 12:47 pm - Link - Report abuse 0
  • yankeeboy

    Chris, In Venezuela women with breast cancer have no choice but to get a mastectomy because there's no other treatment.

    That's Socialism.

    Stevie, is a high functioning retard he doesn't learn and can't see the errors of his ways.

    May 15th, 2015 - 12:52 pm - Link - Report abuse 0
  • ChrisR

    @ 20 yankeeboy


    May 15th, 2015 - 05:40 pm - Link - Report abuse 0
  • Jack Bauer

    @17 Stevie,
    “Screw your market values. Simple as that.”...

    If that's the best your tiny brain can come up with, good for you.....pathetic.

    May 15th, 2015 - 06:59 pm - Link - Report abuse 0

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