Petrobras News & Updates

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…

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…

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…

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,…

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…

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…

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.…

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…

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…

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,…