Shell Sees Petrobras Emerging Stronger From Corruption Scandal By Mario Sergio Lima Rachel Gamarski /Bloomberg 1:07 PM BRT April 23, 2015 Royal Dutch Shell Plc, poised to become Brazil’s biggest oil producer after Petroleo Brasileiro SA, said the state-run driller will emerge strengthened from a corruption scandal and the industry’s biggest debt load. Speaking to... Continue Reading →

Brazil’s Alleged Petrobras Corruption Not Widespread, Witness Testifies Losses related to alleged scheme and overvalued assets reported in company’s 2014 earnings By ROGERIO JELMAYER And JEFFREY T. LEWIS / WSJ April 23, 2015 12:10 p.m. ET SÃO PAULO—The alleged corruption scheme at Brazil’s state-controlled oil company,Petroleo Brasileiro SA, was limited to three top executives and... Continue Reading →

Thu Apr 23, 2015 11:09am EDT UPDATE 1-Shares in Brazil's Petrobras slide after $17 bln charge (Adds quotes and background) (Reuters) - Shares in Brazil's state-run oil company Petrobras fell 5 percent on Thursday, a day after it reported the largest loss ever on $17 billion in charges, giving investors a deeper look at the... Continue Reading →

Petrobras Earnings Report Spurs Bond Rally as Stock Price Falls By Ney Hayashi Cruz Paula Sambo / Bloomberg 12:11 PM BRT April 23, 2015 Petroleo Brasileiro SA’s report of a record loss, which sent the company’s shares into a swoon, has heartened bondholders who feared a prolonged delay of audited results might trigger a technical... Continue Reading →

Corruption Scandal Leads to a Big Loss for Petrobras By THE ASSOCIATED PRESS APRIL 22, 2015 RIO DE JANEIRO — Brazil’s state-run oil company Petrobras said Wednesday that it lost $2.1 billion in an eight-year kickback scheme that saw the firm’s executives taking bribes for awarding inflated contracts to suppliers. The company released its long-delayed fourth-quarter... Continue Reading →

Rio de Janeiro, April 22nd, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter nº 139/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter nº 139/2015/CVM/SEP/GEA-1 “In reference to news released on 04.19.2015 in the newspaper O Globo entitled: “Billionaire and Covered Up Expenses on COMPERJ”, containing the following statements: “According to the Brazilian... Continue Reading →

Petrobras - Financial Results 4Q14 Rio de Janeiro – April 22, 2015 - (A free translation from the original in Portuguese). Petrobras announces today its audited consolidated results for 4Q-2014 and the full year 2014, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards... Continue Reading →

Petrobras Witnesses Receive Reduced Sentence in Plea Bargain by Anna Edgerton Raymond Colitt/Bloomberg 6:11 PM BRT April 22, 2015 Two key witnesses in the investigation of corruption at Petroleo Brasileiro SA received reduced sentences after cooperating with the police investigation. Paulo Roberto Costa, former head of refining at Brazil’s state-owned oil company, had his sentence... Continue Reading →

Petrobras Releases Audited Results With $2.1 Billion Graft Cost by Peter Millard Sabrina Valle/Bloomberg 7:51 PM BRT April 22, 2015 Petrobras wrote down 6.2 billion reais ($2.1 billion) in corruption-related charges in its first audited financial results since August, a major step for Brazil’s state-run oil producer to regain bond-market access. The charge was linked... Continue Reading →