Petrobras News & Updates

Article: Petrobras Scandal: Brazil’s High Court Rules Authorities Can Question Former President Lula da Silva In Growing Political Kickback Investigation

October 3, 2015

IBTimes Article:  The ongoing investigation into who benefited from political payoffs from Brazil’s state-owned oil giant Petrobras has netted former Brazilian President Luiz Inacio Lula da Silva,  The country’s high court ruled late Friday the former leader of the work’s seventh-largest economy can be interrogated by police about his possible involvement in the kickback scandal…

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Article: Corrupt Oil Giant Petrobras Gets Celebrity Opponents As Bill And Melinda Gates Join Shareholder Suit

September 25, 2015

Forbes Article: Welcome to the party, Bill Gates and Melinda Gates. The billion-dollar couple has joined a chorus of shareholders suing Brazilian oil giant Petrobras over a corruption scandal that has reduced the value of  Petrobras stock by 88% over the last five years. The power couple’s philanthropic organization, the famed Gates Foundation Trust, has lost…

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Article: Petrobras Oil Scandal Leaves Brazilians Lamenting a Lost Dream

August 7, 2015

New York Times Article:  Alberto Youssef, a convicted money launderer and former bon vivant, sat in a Brazilian jail cell in March of last year, getting ready to tell his lawyers a story. It was about an elaborate bribery scheme involving  Petrobras, the government-controlled oil giant. He opened with a dire prediction. “Guys,” Mr. Youssef…

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Article: Brazil oil giant faces $98bn shareholder lawsuit in US over corruption scheme

July 10, 2015

The Guardian Article:  A US judge has told Petrobras bosses to prepare for a $98bn lawsuit over allegations that executives at the Brazilian oil company and senior politicians were involved in a huge money-laundering and corruption scheme dubbed “Operation Carwash”. Read the Full Story

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Article: Costs of the Petrobras Corruption

April 23, 2015

BBC Article: Brazil’s state-run oil company, Petrobras has taken a $2bn (£1.3 bn) charge for costs related to corruption.  The company has published accounts for last year showing an overall loss of $7.2bn.  The company’s results also included an impairment charge of $14.8bn reflecting the decreased value of its assets. Read the Full Story

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Article: Corruption in Brazil, the big oily; The Petrobras scandal explained

January 3, 2015

The Economist Article:  Nearly as ominous as the economic cloud hovering over Dilma Rousseff is the scandal surrounding Petrobras, the state-controlled oil company.  It nearly cost her re-election, and could yet spoil her second term as Brazil’s president. The affair began in March, when federal police arrested Paulo Roberto Costa, Petrobras’s chief of refining from…

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