Petrobras CEO Seeks to Recoup $1.8 Billion From Graft Losses

Petroleo Brasileiro SA is seeking to recover as much as 6.2 billion reais ($1.8 billion) lost as part of Brazil’s biggest corruption scandal.

The world’s most indebted oil company announced today the recovery of 139 million reais from the scandal, in a ceremony with the country’s prosecutor general ahead of the year-and-a-half-long investigation. In 2014, Petrobras had its first operating loss since 1991 because of fuel sold below import costs and the write-offs.

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