Tag: Petrobras

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.
Friday, December 12th 2014 - 06:03 UTC
Brazilian executives from leading companies formally charged for the Petrobras corruption scandal

Brazilian prosecutors formally charged executives from six of the country's largest engineering firms with forming a cartel to funnel kickbacks from state-run oil firm Petrobras to the ruling political party and its allies.
Tuesday, December 9th 2014 - 23:08 UTC
Despite Petrobras corruption, Rousseff has strong public opinion support

Seven out of ten Brazilians believe President Dilma Rousseff has some responsibility in the Petrobras corruption scandal, which involves contractors and politicians, according to a public opinion poll from Datafolha, conducted on Dec. 2 and 3, including 2,896 interviews and published by Folha de Sao Paulo.
Tuesday, December 9th 2014 - 08:26 UTC
The man in charge of fighting corruption in Brazil resigns: “I've done my duty”

Comptroller General Jorge Hage, the man in charge of fighting corruption in the Brazilian government, announced his resignation amid a widening graft scandal centered on state-run oil company Petrobras. Hage said he sent President Dilma Rousseff his resignation letter a few weeks ago, after she won re-election for a second term in office.
Friday, November 28th 2014 - 06:13 UTC
Petrobras agrees to appoint a “governance, risk management and compliance” director

Brazil's oil and gas giant Petrobras (and currently immersed in a major corruption scandal) has decided the appointment of a director of governance, risk management and compliance mainly to ensure risk mitigation and ensure the repeat of situations of fraud and corruption, according to a release from the corporation.
Wednesday, November 26th 2014 - 06:39 UTC
US Securities & Exchange Commission investigating Petrobras corruption scandal

Brazil’s state-run oil firm Petrobras said on Monday it had received a subpoena from the US Securities and Exchange Commission asking for documents relating to an investigation it is pursuing. The SEC investigation is the latest in a multi-layered probe into Petrobras which is spreading beyond Brazil’s borders.