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Article: Petrobras Corruption Investigation Said to Ramp Up in U.S.

U.S. authorities are investigating more than a dozen companies as part of an international bribery probe that has already led to more than 150 arrests in Brazil, according to people familiar with the matter. Prosecutors in the U.S. and Brazil are effectively dividing the investigation to suit their respective strengths as they pursue suspected graft […]

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Article: What is the Petrobras scandal that is engulfing Brazil?

Brazil’s President Dilma Rousseff is in danger of being impeached only 15 months into her second four-year term. But while the impeachment officially cites allegations that she manipulated the federal budget to disguise a growing deficit, it is a sprawling scandal at Petrobras, the state-owned oil company, that has taken a greater toll on her […]

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Article: Petrobras Gets $10 Billion Chinese Loan in Oil Supply Deal

Petroleo Brasileiro SA secured a $10 billion loan from China Development Bank Corp. as the beleaguered state-owned oil producer endures the worst crude market in a generation and faces more than double that amount in maturities over the next two years. The lifeline is part of a deal to supply crude to the Asian country, […]

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Blog: Standard & Poor’s downgrades Petrobras after Brazil sovereign cut

According to Reuters, Standard & Poor’s has downgraded the foreign currency bond rating of Brazil’s state-run oil company Petroleo Brasileiro SA or Petrobras to “B+” from “BB” after the ratings agency cut Brazil’s sovereign rating on Wednesday. Until a corruption scandal and oil price drop undermined its finances in 2014 and 2015, Petrobras often had a […]

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Blog: Brazil’s speaker given 10 days to answer charges of bribery

The Buenos Aires Herald (Argentina) reported that yesterday in Brasilia, Brazil’s Supreme Court informed the country’s Lower House speaker, Eduardo Cunha, that he has 10 days to respond to charges stemming from his alleged involvement in the Petrobras kickback scandal. He is accused of: •    Using his position as head of the Lower House to […]

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Article: After Carnival, Brazilians get dose of corrupt reality

After Carnival, Brazilians get a dose of corrupt reality  Petrobras corruption back on agenda as EU firms threaten legal action, judge approves Lula probe BRASILIA — As Carnival came to a close in Brazil yesterday, the nation’s headlines switched from samba to scandal, as new developments involving state-run oil company Petrobras seized the spotlight once […]

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Article: Is Petroleo Brasileiro in Trouble Again?

Is Petroleo Brasileiro in Trouble Again? A group of international investors and law firms may cause problems for the Brazilian oil company, Petrobras; How? Bidness Etc takes a look As if it weren’t bad enough that Petrobras witnessed a $2 billion corruption scandal and a depressed crude situation, the company may face another lawsuit soon. […]

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Article: European Class Action Likely For Petrobras

European Class ACtion Likely for Petrobras A group of international investors and law firms are seeking compensation from Brazil’s state-led oil company Petrobras under European law for losses allegedly suffered as the result of a giant price-fixing, bribery and political kickback scandal. Netherlands-based Stichting Petrobras Compensation Foundation (SPCF) has informed Petrobras of its interest in […]

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