Petrobras News & Updates

Article: How the Petrobras Scandal Ensnared Lula—and Upturned Brazilian Politics

March 16, 2016

The former Brazilian President Luiz Inácio Lula da Silva was hailed as a savior of his country. But he now finds himself caught in a scandal It was a story so inspiring, they made it into a movie. The 2009 film Lula: Son of Brazil showed the ascent of Luiz Inácio Lula da Silva from…

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Article: China Petrobras loan cuts need for government bailout -Itau BBA

March 1, 2016

A credit line of up to $10 billion from China’s state development bank to Petrobras cuts the risk that Brazil’s state-run oil company would need government assistance to pay for debt and investment in 2016, Banco Itau BBA said on Monday. The loan from China Development Bank, announced on Friday, is enough to pay nearly…

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

February 29, 2016

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

February 18, 2016

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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Article: After Carnival, Brazilians get dose of corrupt reality

February 11, 2016

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?

February 11, 2016

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

February 11, 2016

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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Article: Una Coalición Internacional anuncia querella criminal contra Petrobras ante los tribunales españoles

February 11, 2016

Una Coalición Internacional anuncia querella criminal contra Petrobras ante los tribunales españoles Ofrece a los inversores internacionales acceso simplificado para su participación La Asociación de Afectados de Petrobras, una asociación de accionistas ubicada en Madrid; La International Securities Associations & Foundations Management Company for Damaged Petrobras Investors (Bolsa Madrid) Ltd. (“ISAF Petrobras”); y una coalición…

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Article: Petrobras international investors consider lawsuit in Netherlands

February 10, 2016

Petrobras international investors consider lawsuit in Netherlands 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 Petroleo Brasileiro SA,…

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Article: Una Coalición Internacional anuncia querella penal contra Petrobras ante los tribunales españoles

February 10, 2016

MADRID, España–(BUSINESS WIRE)–La Asociación de Afectados de Petrobras, una asociación de accionistas ubicada en Madrid; La International Securities Associations & Foundations Management Company for Damaged Petrobras Investors (Bolsa Madrid) Ltd. (“ISAF Petrobras”); y una coalición internacional de bufetes de abogados que incluyen a Cremades & Calvo-Sotelo, Motley Rice y a Lowey Dannenberg Cohen & Hart,…

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