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
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 →
Bearish Bets on Petrobras ADRs Hold Near Record Before Earnings
Bearish Bets on Petrobras ADRs Hold Near Record Before Earnings By Julia Leite/Bloomberg 12:29 PM BRT April 22, 2015 Bets on further declines of Petroleo Brasileiro SA held near a record high before the oil producer’s long-delayed audited results. Short interest in its American depositary receipts was at 16 percent of shares outstanding as of... Continue Reading →
Petrobras Seen Unlocking Bond Market Shuttered by Bribery Crisis
Petrobras Seen Unlocking Bond Market Shuttered by Bribery Crisis By Filipe Pacheco/Bloomberg 8:00 PM BRT April 21, 2015 A man gets back in his car after purchasing gasoline at a Petroleo Brasileiro SA station in Rio de Janeiro. The state-controlled oil producer will release audited financial results on Wednesday for the first time since August.... Continue Reading →
Brazil Makes Latin America Fallen Angels Hub, Moody’s Says
Brazil Makes Latin America Fallen Angels Hub, Moody’s Says by Julia Leite/Bloomberg 2:09 PM BRT April 21, 2015 Brazil’s stagnant economy and sinking currency are putting investment-grade ratings at risk, making Latin America the region with the biggest number of high-grade bonds that could end up as junk, Moody’s Investors Service said. Power producer Centrais... Continue Reading →
Petrobras Scandal Buries Brazilian Prosperity Plan at Sea
Petrobras Scandal Buries Brazilian Prosperity Plan at Sea By Juan Pablo Spinetto Anna Edgerton / Bloomberg 8:00 PM BRT April 20, 2015 Buried off the coast of Brazil, beneath miles of seawater, rock and salt, lie vast oil reserves -- at least 50 billion barrels -- that were supposed to yield untold riches for this... Continue Reading →
Re-Loaded Petrobras Board and Audited Results Coming, Levy Says
Re-Loaded Petrobras Board and Audited Results Coming, Levy Says By David Biller/Bloomberg 3:04 PM BRT April 20, 2015 Brazil’s state-run oil producer Petroleo Brasileiro SA has improved its management and should soon have a board “loaded” with people from the private sector, said Finance Minister Joaquim Levy. The expectation is for the company to release... Continue Reading →
As Petrobras scandal spreads, economic toll mounts for Brazil
Mon Apr 20, 2015 10:58am EDT As Petrobras scandal spreads, economic toll mounts for Brazil BY JEB BLOUNT A tower with a Brazilian flag representing an oil rig is pictured during a protest in front of the Petrobras headquarters in Rio de Janeiro March 4, 2015. REUTERS/SERGIO MORAES ITABORAÍ, Brazil (Reuters) - For the 20 men hanging... Continue Reading →
Petrobras and improving policy outlook help Brazil’s markets
http://www.ft.com/cms/s/0/214aec34-e72d-11e4-a01c-00144feab7de.html#ixzz3XqKpxCY8 April 20, 2015 9:09 am Petrobras and improving policy outlook help Brazil’s markets Joe Leahy in São Paulo ©Getty At the construction site of a wing of the prestigious Sirio-Libanes Hospital in São Paulo, a security guard recalls how workers from the Schahin industrial group suddenly left the project 15 days ago. The Brazilian... Continue Reading →
Petrobras shares rise as company prepares to end results delay
http://www.ft.com/cms/s/0/ac956eba-e56e-11e4-a02d-00144feab7de.html#ixzz3XmmUP5O7 April 19, 2015 3:04 pm Petrobras shares rise as company prepares to end results delay Joe Leahy and Samantha Pearson in São Paulo ©Getty Investor optimism is rising that Brazil’s embattled state-owned oil company Petrobras will emerge from a crippling corruption scandal without defaulting on its $137bn in debt. Shares of the state-owned oil company company... Continue Reading →
