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Former Petrobras CEO Weighs In on Corruption Probe Gabrielli Says He Feels Like ‘David Fighting Goliath,’ Denies Any Wrongdoing By LUCIANA MAGALHAES and ROGERIO JELMAYER Feb. 11, 2015 6:27 p.m. ET Wall Street Journal SÃO PAULO— José Sergio Gabrielli, the former chief executive of Petróleo Brasileiro SA, presided over one of the brightest periods in... Continue Reading →
Petrobras Platform Blast Kills Three and Shuts Gas Output By Yasmine Batista 4:59 PM BRST February 11, 2015 (Bloomberg) -- Three workers died and six went missing in an offshore platform explosion at a natural gas field operated by Brazil’s state-run energy company Petroleo Brasileiro SA. Ten other workers were injured and flown... Continue Reading →
Aberdeen Exits Petrobras Equity Position Amid Corruption Probe by Katia Porzecanski Julia Leite 7:15 PM BRST February 11, 2015 (Bloomberg) -- Aberdeen Asset Management Plc sold all its Petroleo Brasileiro SA stock as a graft probe erodes confidence in the oil producer’s executives, according to Anne Richards, the asset manager’s chief investment officer.... Continue Reading →
Petrobras’s $4 Billion Bond Wipeout Is Just a Prelude by Julia Leite Filipe Pacheco 12:00 AM BRST February 9, 2015 (Bloomberg) -- The corruption scandal battering Petrobras has already cost bondholders $4 billion. With the oil producer facing billions of dollars in writedowns, investors are bracing for even more pain. Petroleo Brasileiro SA’s... Continue Reading →
Filling Top Post at Petrobras, Government Taps Head of Banco do Brasil Aldemir Bendine, shown in 2011, is moving from his chief executive post at Banco do Brasil to head up Petrobras. PHOTO: BLOOMBERG NEWS By ROGERIO JELMAYER and LUCIANA MAGALHAES Updated Feb. 6, 2015 7:22 p.m. ET SÃO PAULO—With state-controlled Petroleo Brasileiro SA reeling from a... Continue Reading →
PERSON IN THE NEWS January 30, 2015 10:53 pm Maria das Graças Foster, Petrobras chief Samantha Pearson in São Paulo Brazil oil major head’s career looks likely to end with corruption scandal, writes Samantha Pearson ©Joe Cummings Maria das Graças Foster is no average Brazilian executive. For a start, the chief executive of Petrobras is... Continue Reading →
January 30, 2015 6:12 pm Mopping up after the mess at Petrobras Corruption at the state-owned oil company brings chaos to Brazil ©AFP Petrobras represents the best and worst of Brazil. Its technical competence is renowned and it has vast deep sea reserves. Such were the lures that drew investors to the world’s largest equity offering... Continue Reading →
WORLD NEWS Brazil Graft Case Sets Back Economy Corruption Scandal at Petróleo Brasileiro Is Weighing on Some Key Brazilian Business Sectors Activists protesting against Petrobras in Rio de Janeiro last month. PHOTO: AGENCE FRANCE PRESSE/GETTY IMAGES By MARLA DICKERSON and ROGERIO JELMAYER Feb. 1, 2015 12:32 p.m. ET SÃO PAULO—A corruption scandal at state-controlled Petróleo Brasileiro SA has created... Continue Reading →
Fitch Joins Moody’s in Cutting Petrobras Rating to Cusp of Junk byJulia Leite 4:45 PM BRST February 3, 2015 (Bloomberg) -- - Petroleo Brasileiro SA’s credit rating was cut to the cusp of junk by Fitch Ratings after the company at the center of Brazil’s largest-ever corruption probe wasn’t able to account for the financial... Continue Reading →
Petrobras Still Breaching Debt Rules, Aurelius Tells Bondholders byKatia Porzecanski 8:55 PM BRST February 2, 2015 (Bloomberg) -- Aurelius Capital Management LP said Petroleo Brasileiro SA remains in violation of bond terms and creditors should notify the oil producer that the infraction will constitute a default if it isn’t resolved within 60 days. Petrobras... Continue Reading →
