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
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 →
Brazil’s Real Drops From Seven-Week High After Petrobras Results
Brazil’s Real Drops From Seven-Week High After Petrobras Results by Filipe Pacheco/Bloomberg 10:26 AM BRT April 23, 2015 Brazil’s real dropped from a seven-week high after the state-controlled oil producer published audited results for the first time since August, reporting that a corruption scandal cost $2.1 billion. The real declined for the first time in... Continue Reading →
Petrobras – Clarification Comperj’s Expenses
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
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 →
Brazil’s Petrobras takes $17bn hit
http://www.ft.com/cms/s/0/d6be40d0-e952-11e4-a71a-00144feab7de.html#ixzz3Y884L34z April 23, 2015 2:48 am Brazil’s Petrobras takes $17bn hit Joe Leahy and Samantha Pearson in São Paulo/FT ©AFP Brazil’s Petrobras has estimated its losses from corruption at R$6.2bn (US$2.06bn) and taken a R$44.6bn impairment charge, as the embattled state-owned oil company struggles to emerge from the nation’s biggest political bribery case. Petrobras released... Continue Reading →
Brazil’s Petrobras Reports Nearly $17 Billion Impairment on Assets, Corruption
Brazil’s Petrobras Reports Nearly $17 Billion Impairment on Assets, Corruption State-run oil company writes off $2.1 billion of alleged bribe payments Petrobras’s disclosures Wednesday were part of the first audited financial statements released by the oil company in more than eight months Petrobras’s disclosures Wednesday were part of the first audited financial statements released by... Continue Reading →
Petrobras Witnesses Receive Reduced Sentence in Plea Bargain
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 →
Brazil’s OAS says scandal, restructuring to halve revenue
Wed Apr 22, 2015 3:56 pm EDT Brazil's OAS says scandal, restructuring to halve revenue SAO PAULO, APRIL 22 (Reuters) - Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50 percent by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal... Continue Reading →
Brazil Energy Insight 