Rousseff admits a government bailout of indebted Petrobras is a serious option

Monday, January 18th 2016 - 08:11 UTC

Full article 6 comments

Brazilian President Dilma Rousseff admitted that a government bailout for the country’s troubled state-controlled oil company Petrobras can’t be ruled out. The company is mired in financial troubles amid a deep decline of global oil prices and a sprawling corruption scandal involving several of its former executives and its largest suppliers. Read full article

Comments

Disclaimer & comment rules

ChrisR
Who does this stupid woman think she is fooling?

The only way DumbAss Dilma can nationalise Petrobras is when it's stock market value falls to near zero and that is very likely very soon.
Jan 18th, 2016 - 11:32 am - Link - Report abuse 0
-+
yankeeboy
PBR used an avg price for oil of U$45 and a Rial at 4.05 for their cash flow.

Wht do you think that cash flow looks like at $20 oil and a 6 rial.

Ooops.
Jan 18th, 2016 - 01:03 pm - Link - Report abuse 0
-+
Conqueror
She's in white. “Look at how honest and virginal I am”.
Jan 18th, 2016 - 03:08 pm - Link - Report abuse 0
-+
Jack Bauer
@1 ChrisR
PBR is already majority State-owned.......the only reason why the government has managed to plunder the company, with relative impunity, and bring it to its knees.
As to using the National Treasury to bail it out , might solve the problem short-term, but it must stop being used politically if it is to survive.
Jan 18th, 2016 - 03:50 pm - Link - Report abuse 0
-+
K0THARE
#1º: A bailout will further strain the failing economy
#2º: One bailout will simply evaporate and will trigger additional bailouts.
#3º: On one hand, a major portion of the funds - bailout / privatization / auction - in any case will land into the “Wrong Pockets”
#4º: On the other hand; many of the politicians are getting ready - either for a State of Emergency OR a “Collor-Style” Blow!
Jan 21st, 2016 - 11:40 am - Link - Report abuse 0
-+
Jack Bauer
Typical - the idea of using the National Treasury to bail out PB after the Government's total incompetence and all the corruption could only have come from Dilma and the PT. And the 'people' will have to pay the bill, once again. Serves them bloody right. Even if the fat cow goes to the BRICS Bank with hat in hand, the debt, which is already at US$ 130 billion, will chew up the operational profits for the next 20 years......and that is not even considering the Principal.
Jan 21st, 2016 - 08:53 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!