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
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 →
Banker Takes Helm of Brazil’s Troubled Oil Giant
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 →
Maria das Graças Foster, Petrobras Chief
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 →
Mopping up after the mess at Petrobras
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 →
Brazil Graft Case Sets Back Economy
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
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
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 →
BG Pays $71 Million for Local-Content Breaches in Brazil
BG Pays $71 Million for Local-Content Breaches in Brazil Facebook Twitter Instagram Youtube bySabrina Valle 12:57 PM BRST February 3, 2015 (Bloomberg) -- BG Group Plc, the U.K.’s third-largest natural-gas producer, paid 192.5 million reais ($71 million) in fines in Brazil for breaching local-content rules at an offshore project where it didn’t find commercial volumes of... Continue Reading →
Shares of Brazil’s Petrobras Jump
Shares of Brazil’s Petrobras Jump Brazil President Dilma Rousseff , right, greets Chief Executive Officer of Brazil's state oil company Petrobras Maria das Gracas Silva Foster during a ceremony in December 2013. PHOTO: REUTERS By LUCIANA MAGALHAES And PAUL KIERNAN Feb. 3, 2015 11:16 a.m. ET SÃO PAULO—Shares of Brazilian state-controlled oil giant Petróleo Brasileiro SA shot up as much... Continue Reading →
