Tag: Petrobras

Friday, July 3rd 2015 - 07:12 UTC
Petrobras investigation looks into corruption by a dozen foreign companies

Brazilian police on Thursday arrested Jorge Zelada, former director of Petrobras' international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, prosecutors have said. Zelada is suspected of money-laundering, appropriating public funds, corruption, tax evasion and contract fraud.
Tuesday, June 30th 2015 - 06:14 UTC
Petrobras drastically cuts investment by 37% in next five years

State-controlled oil giant Petrobras, which is mired in a corruption scandal that has rocked Brazil, said Monday it was cutting investment by 37% during the 2015-2019 period. Investment during the period will now total $130.3 billion, down from the $220.6 billion originally planned, Petrobras said in a filing with the Sao Paulo Stock Exchange.
Friday, June 26th 2015 - 06:23 UTC
Petrobras bribery case reaches US courts on investors' class action lawsuit

Brazil's state-run oil company Petrobras urged a U.S. judge on Thursday to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper said the company itself was a victim of the fraud, which he said was orchestrated by a handful of individuals.
Saturday, June 20th 2015 - 08:23 UTC
Brazil's top two construction tycoons arrested in connection to Petrobras case

Brazilian police arrested on Friday Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, ensnaring the most high-profile executive to date in the corruption investigation at state-run oil firm Petrobras.
Monday, June 1st 2015 - 07:47 UTC
Petrobras denies sale of distribution network for much needed investment cash

Brazilian state-controlled oil company Petrobras said that the 13.7bn dollars divestment program it unveiled two months ago does not include plans to sell a stake in its service station network.
Wednesday, May 27th 2015 - 04:53 UTC
Petrobras former director sentenced five years in prison for money laundering

A Brazilian judge has sentenced a former international director at the country's largest corporation and government managed Petrobras to five years in prison for money laundering, the second company executive convicted in an ongoing corruption probe.
Sunday, May 24th 2015 - 08:02 UTC
President Rousseff to face criminal complaint over 'cosmetic' accounting

Brazil´s main opposition party plans to pursue a criminal complaint against President Dilma Rousseff for 'inventive' accounting that helped shore up the country´s fiscal results in recent years.
Wednesday, May 20th 2015 - 05:44 UTC
Beijing to the rescue of sliding Brazil: 53bn dollars in trade, finance and investment

Beijing has come to the rescue of Brazil's slumping economy with trade, finance and investment deals worth at least 53 billion dollars in energy, mining, aviation and upgrading of dilapidated infrastructure.
Friday, May 15th 2015 - 07:32 UTC
Petrobras production from pre-salt fields reaches milestone 800.000 bpd

Brazil’s Petrobras said that oil production in Santos and Campos basin pre-salt fields reached a milestone production volume of 800Mbbl/d. The volume was recorded on April 11, with 74% (590Mbbl/d) Petrobras’ share with the remainder belonging to partner companies working in different pre-salt areas.
Wednesday, May 13th 2015 - 08:29 UTC
Petrobras still Latam's top company but fell to second-worst performer because of corruption losses

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.