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PetroChina Co Ltd

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  • BRASILIA/ SAO PAULO, March 5- A corruption scandal at state-run oil company Petrobras has entered a volatile new phase that could lead to jail for some of Brazil's best-known politicians and business leaders while making a likely recession even worse. A prosecutor's motion on Tuesday to open investigations against 54 individuals, reportedly including the...

  • RIO DE JANEIRO, March 5- The opening of a Brazilian congressional probe into alleged corruption at state-run oil company Petroleo Brasileiro SA erupted into a shouting match on Thursday when lawmakers rushed the dais and accused the probe's leader of seeking to manipulate the outcome. The dispute highlights the rising tension in Congress two days after a...

  • Rousseff met with legislative leaders from her coalition after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil's budget. If Congress blocks them, the government will have to make deeper spending cuts elsewhere to meet its fiscal savings target of 1.2 percent of gross domestic...

  • BRASILIA, March 3- Brazil's top prosecutor asked the Federal Supreme Court on Tuesday to open investigations into politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petroleo Brasileiro SA, a court official said on Tuesday. Janot's office did not release the names of the politicians to be investigated,...

  • BRASILIA, March 3- Brazil's top prosecutor Rodrigo Janot asked the Supreme Court on Tuesday to open an investigation into 54 politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petroleo Brasileiro SA, a Supreme Court spokesman said on Tuesday. Janot's office did not release the names of the politicians...

  • RIO DE JANEIRO, Feb 27- Brazil's Braskem SA, Latin America's largest petrochemical company, said on Friday it had agreed to a revised naphtha supply contract with shareholder Petrobras, staving off a threatened shutdown of its Brazilian plants. The contract with Petroleo Brasileiro SA, as Petrobras is formally known, extends the supply agreement until Aug. 31,...

  • RIO DE JANEIRO, Feb 27- Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday that the director of its corporate-services division will take a 90- day leave of absence for health reasons. Dutra, a former Brazilian Senator, served as Petrobras' chief executive officer for two and a half years from 2002 to 2005 and president of Brazil's...

  • RIO DE JANEIRO, Feb 27- Brazil's embattled state-run oil company Petroleo Brasileiro SA, said on Friday that its director of the company's powerful corporate services division will take a 90- day leave of absence on health grounds. Dutra, a former Brazilian Senator, was also Petrobras chief executive officer for two and a half years from 2002 to 2005 and...

  • LAUNCESTON, Australia, Feb 27- The market chatter over forming a giant Chinese oil major through merging PetroChina and Sinopec has ramped up again recently, but the motivations for such a deal struggle to stand up to scrutiny. The Chinese authorities are mulling joining China National Petroleum Corp, the parent of PetroChina, and China Petrochemical Corp, the...

  • RIO DE JANEIRO, Feb 26- Norway's BW Offshore said on Thursday it had found the body of a seventh victim of a Feb. 11 blast on a production vessel it operates for Brazil's state-run oil company Petroleo Brasileiro SA. Two crew members of the Cidade de Sao Mateus floating production, offloading and storage ship are still missing. The vessel produced from the Camarupim...

  • BRASILIA, Feb 25- Brazil has no plans to pump new capital into Petrobras, even after a debt-rating downgrade by Moody's Investors Service threatens to limit the cash-strapped oil company's access to finance and raise its borrowing costs, two government officials told Reuters on Wednesday. Late on Tuesday, Moody's Investors Service cut the rating on foreign...

  • Petrobras scandal about to hit Brazil's political class Wednesday, 25 Feb 2015 | 3:51 PM ET

    BRASILIA, Feb 25- Brazil's top prosecutor is expected to file charges in coming days against politicians implicated in the Petrobras corruption scandal, a political bombshell that could involve members of Congress and President Dilma Rousseff's government. Under Brazilian law, lawmakers and cabinet members can only be tried by the Supreme Court.

  • RIO DE JANEIRO, Feb 24- Ratings agency Moody's Investors Service stripped Brazil's state-run oil company Petrobras of its investment grade rating on Tuesday and kept the firm on review for further downgrade, citing concerns over an ongoing corruption scandal and liquidity pressures. Moody's said in a statement it was downgrading Petroleo Brasileiro SA, as...

  • NEW YORK, Feb 24- Local residents and businesses sued Puerto Rico's Electric Power Authority in federal court on Tuesday, alleging fraud in the fuel oil procurement process that plaintiffs said resulted in island residents being overcharged by more than $1 billion. The lawsuit in U.S. District Court in Puerto Rico accuses PREPA, one of the largest U.S. public...

  • Former Petrobras executive charged with taking bribes Tuesday, 24 Feb 2015 | 12:37 PM ET

    BRASILIA, Feb 24- Prosecutors on Tuesday accused a former senior Petrobras executive of racketeering, bribery and money laundering through Switzerland and Uruguay in a widening kickback scandal that has engulfed Brazil's state-run oil company. Nestor Cerveró was head of international operations at Petroleo Brasileiro SA, as the company is known, from...

  • *HSBC to announce earnings on Monday, Cheung Kong later the week. HONG KONG, Feb 23- Hong Kong shares dipped on Monday, with oil firms and casino operators leading the slide, as investors awaited direction from major corporate earnings later the week, marking a weak start to the Year of Goat. Property group Cheung Kong and conglomerate Hutchison Whampoa are set to...

  • RIO DE JANEIRO, Feb 20- Brazil's state-run oil company Petroleo Brasileiro SA plans to complete repairs to a broken catalytic cracking unit at its REDUC refinery by March 7, the union representing workers at the plant said in a statement on Friday. Until the recent decline in world oil and fuel prices, Petrobras was forced by Brazil's government to sell imported...

  • RIO DE JANEIRO, Feb 20- Brazil is gauging market interest in exploring for oil and gas in the country before deciding whether to go ahead with a new auction of blocks in the first half of this year, the Energy Ministry said on Friday. The 13th oil rights auction, Brazil's first sale of oil and gas concession rights since 2013, is currently scheduled for between late...

  • BUSINESS-NEWS-SCHEDULE AT 1930 GMT / 2:30 p.m. ET Friday, 20 Feb 2015 | 3:01 PM ET

    No deal yet in U.S. West Coast port dispute. SAN FRANCISCO- Shipping executives and union leaders for dockworkers at 29 U.S. West Coast ports remain locked in a dispute as talks, brokered by the U.S. labor secretary, head into a fourth straight day. WASHINGTON- The Obama administration says it will create a special enrollment period for tax filers who were unaware...

  • RIO DE JANEIRO, Feb 20- State-run Petroleo Brasileiro SA could cost Brazil an amount equal to 5 percent of its gross domestic product in the event of a Treasury bailout, a senior analyst with Moody's Investors Service said, underscoring the potential impact on public finances of a massive corruption scandal at the oil firm. It already makes the company "a...