Tag: Petrobras

Friday, April 24th 2015 - 08:51 UTC
Petrobras normalizing links with investors on improved governance and transparency

With the release of audited financials, Brazilian oil giant Petrobras believes it has started to normalize its relationship with investors and to implement better corporate governance in the wake of the financial scandal that has rocked the company, its chief financial officer said on Thursday.
Thursday, April 23rd 2015 - 08:45 UTC
Brasil's third biggest builder contracting drastically after Petrobras scandal and bankrupcy

Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50% by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal at a state-run oil company.
Thursday, April 23rd 2015 - 07:09 UTC
Petrobras reveals extent of its losses because of corruption and mismanagement

Brazil's state-run oil giant Petrobras which has been bashed by a wide-spread corruption scandal, reported on Wednesday a 2014 net loss of 21.6 billion Reais (7.2 billion dollars) after taking 50.8 billion Reais in charges.
Wednesday, April 22nd 2015 - 06:35 UTC
Petrobras receives financial support from China and local banks

Brazilian state-run oil company Petrobras approved a series of financial agreements with local and international banks that will meet its financing needs in 2015, the company announced. In a filing with local stock regulators, Petrobras said that the deals will provide the company with access to about 6.2 billion dollars, including a 3.5bn financing contract reached with China Development Bank on April 1.
Monday, April 20th 2015 - 06:42 UTC
Brazilian leading contractor admits paying 36m dollars in bribes to Petrobras officials

A vice president of construction company Camargo Correa told Brazilian prosecutors that he paid 36 million dollars in bribes to officials of state-controlled oil company Petrobras, the press reported, citing a document prepared by prosecutors.
Saturday, April 11th 2015 - 13:05 UTC
Brazil's anti-corruption drive nets three former lawmakers

Brazilian police arrested on Friday three former congressmen broadening their corruption investigation beyond state-run oil giant Petrobras to state lender Caixa Economica Federal and the federal health ministry.
Monday, April 6th 2015 - 06:20 UTC
International legal actions against Petrobras keep climbing

One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the third large investor to seek damages individually from the Brazilian oil group.
Thursday, April 2nd 2015 - 07:31 UTC
Brazil oil industry wants new auction rights rules and more efficient sourcing requirements

The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.
Friday, March 27th 2015 - 08:07 UTC
Petrobras engineering firm contractor files for bankruptcy

Brazilian engineering firm Galvao Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petrobras cut off payments due to a broad corruption scandal in which it had been implicated.
Monday, March 23rd 2015 - 17:35 UTC
Swiss prosecutors have uncovered over 300 accounts suspected linked to Petrobras corruption

Swiss prosecutors have uncovered over 300 accounts at more than 30 Swiss banks that they suspect are linked to the massive corruption and money-laundering scandal at Brazil's state-run oil company Petrobras.