Tag: Petrobras

Wednesday, February 4th 2015 - 09:09 UTC
Petrobras shares soar 15% ahead of CEO's and senior managers removal

Brazilian President Dilma Rousseff will replace the chief executive and other senior managers at state-run oil company Petrobras later this month in an effort to turn the page on the widening corruption scandal. Petrobras shares jumped more than 15%, their biggest one-day gain in 16 years, after Folha do Sao Paulo first reported that Rousseff intended to replace CEO Maria das Graças Foster.
Friday, January 30th 2015 - 08:03 UTC
Petrobras former CEO has assets frozen under court investigation

A Brazilian state court froze the assets of former Petrobras Chief Executive Officer Jose Sergio Gabrielli amid an investigation of graft and money-laundering in the government-run oil producer's contracts with construction companies.
Thursday, January 29th 2015 - 07:23 UTC
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.
Wednesday, January 28th 2015 - 07:40 UTC
Rousseff calls on fractious cabinet to embrace belt-tightening to restore growth

Brazil's President Dilma Rousseff has urged her cabinet to embrace fiscal belt-tightening and other measures aimed at restoring business confidence and growth in her second term.
Saturday, January 17th 2015 - 08:00 UTC
Petrobras CEO confirmed in the job by the Energy minister

Brazil’s energy minister this week threw his support behind the CEO of Petrobras, the embattled state-run oil company embroiled in a vast corruption scandal that has dominated national headlines. Maria das Graças Silva Foster will keep her job as CEO, the minister said, despite growing demands for her resignation.
Saturday, January 17th 2015 - 07:49 UTC
Petrobras corruption scheme could reach 28bn dollars according to police

The corruption scheme in Brazil's leading corporation Petrobras could exceed 28 billion dollars, making it the largest corruption scandal that the country has ever seen. The development was reported through an interview by Reuters of Brazilian police officer, Erika Marena, investigating the corruption probe.
Tuesday, January 6th 2015 - 22:49 UTC
Aurelius hedge fund denies being part of lawsuit filed against Petrobras

Aurelius Capital Management, one of the main plaintiffs against Argentina in New York District Judge Thomas Griesa’s courtroom, has denied being part in a lawsuit filed against Brazilian state-owned oil company Petrobras, in response to accusations by Argentina’s Economy Minister Axel Kicillof.
Wednesday, December 31st 2014 - 05:42 UTC
Hedge fund targets 54bn dollars in Petrobras bonds governed by US law

Petrobras, Brazil's state-run oil company, could be declared in technical default on some of its foreign debt if bondholders pursue efforts to force it to speed up its assessment of losses in a giant corruption scandal, according to reports from Reuters.
Wednesday, December 17th 2014 - 00:53 UTC
Brazil's real sinks against US dollar to lowest rate in 10 years

The currency closed at R$ 2.76 per US$ 1 dollar. Domestic politics, international oil prices, US Fed measures and Russian ruble drop to blame.
Friday, December 12th 2014 - 06:16 UTC
Financial aid from Brazilian government for scandal-hit Petrobras

Brazil's government is wrapping up a financing plan for Petrobras aimed at ensuring the scandal-hit state-controlled oil giant can obtain the funding it needs for its massive investment program.