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PetroChina Co Ltd

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  • RIO DE JANEIRO, March 26- The former chief executive officer of Petroleo Brasileiro SA, Maria das Graças Foster, on Monday said she was ashamed of a corruption scandal at the state-run oil company but denied any knowledge of alleged widespread bribery. Foster, who resigned her post on Feb. 4, told a congressional committee in Brasilia that the company cannot be...

  • RIO DE JANEIRO, March 26- Brazil's state-run oil company Petroleo Brasileiro SA on Thursday named Luciano Coutinho, the head of Brazil's state development bank BNDES, as its new chairman. A close ally of President Dilma Rousseff, whom he taught economics, Coutinho is known as a strong supporter of her economic policy. Brazil's President Dilma Rousseff was...

  • BRASILIA, March 26- Brazilian authorities on Thursday said they uncovered a tax fraud scheme at the Finance Ministry's tax appeals board that may have cost taxpayers up to 19 billion reais. The news came in the midst of a multibillion-dollar corruption scandal at state oil company Petroleo Brasileiro SA, or Petrobras, that has rattled Brazil's political...

  • BRASILIA, March 26- Brazil's tax agency said on Thursday that it and federal police have detected corrupt activities at the agency that could have cost state coffers at least 5 billion reais. The tax agency allegations come on the heels of a probe that has uncovered a multibillion-dollar corruption scandal at state oil giant Petroleo Brasileiro SA, known as...

  • HONG KONG, March 26- PetroChina, Asia's largest oil and gas producer, on Thursday vowed to further slash spending and divest more assets this year after posting a worse-than-expected 67 percent earnings slide for the fourth quarter. PetroChina plans to cut its capital spending by about 10 percent to 266 billion yuan this year, while reducing costs and expenses,...

  • MILAN, March 26- Italy's Saipem is close to signing a joint venture with a big local partner in Nigeria just days after clinching a similar deal in China with PetroChina as the oil contractor seeks access to new markets. Saipem, 43 percent owned by Italian oil major Eni, has seen some 10 billion euros wiped off its market value over the past two years after two profit...

  • March 26- Hong Kong shares finished lower on Thursday in line with most Asian markets, which dropped due to tension in the Middle East and losses on Wall Street. But oil giants CNOOC and PetroChina bucked the trend, rising 1.5 percent and 0.9 percent respectively, as oil prices shot up nearly 6 percent after Saudi Arabia and Gulf Arab allies started air strikes...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.2 percent to 3,950.00, while the Shanghai Composite Index gained 0.6 percent to 3,682.10. Among the most active stocks in Shanghai were China Shipbuilding, up 10.0 percent to 10.44 yuan, Agricultural Bank Of China, up 0.3 percent to 3.65 yuan, and China State Construction, up 2.6...

  • China, Hong Kong stocks edge up as energy shares jump Thursday, 26 Mar 2015 | 12:54 AM ET

    SHANGHAI, March 26- Shares in China and Hong Kong edged higher on Thursday as oil prices bounced, pushing up energy shares. Oil companies including PetroChina, and Offshore Oil Engineering rose, while China CNR Corp and CSR Corp Ltd surged on expectations of imminent merger of the two train-making giants. "After consecutive sessions of rises, fluctuations are...

  • SAO PAULO, March 24- The Obama administration has again invited Brazil's President Dilma Rousseff for a state visit to Washington, a diplomatic breakthrough that both sides hope will lead over time to greater trade between the two biggest economies in the Americas. The dust-up led one former top aide to President Barack Obama to describe Brazil and the United...

  • BRASILIA, March 24- A plan to attract private investment to Brazil's strained port infrastructure is even more important in the face of federal budget cuts that will curb public investment, Ports Minister Edinho Araújo said in an interview. Brazilian President Dilma Rousseff said on Friday that her government would make "significant" cuts to the 2015 budget...

  • SAO PAULO, March 23- Brazil's biggest opposition party has no interest in impeaching President Dilma Rousseff despite recent street demonstrations calling for her ouster, former President Fernando Henrique Cardoso told Reuters. Cardoso, who at 83 remains an influential leader in the centrist Brazilian Social Democracy Party, said removing Rousseff so...

  • HONG KONG, March 23- Asia's largest refiner, Sinopec Corp, said on Monday it expects prolonged weakness in global oil prices, forcing it to cut spending and turn more cautious about acquisitions. It will take a very, very long time for international crude prices to rise back to $100 a barrel, "its chairman Fu Chengyu told reporters at the company's results briefing.

  • RIO DE JANEIRO, March 20- Brazil's state-run Petrobras said on Friday it shut its P-58 offshore oil production ship after the country's petroleum regulator ANP found irregularities on board the vessel, one of the company's most important offshore production systems. The shutdown comes a little more than a month after a deadly explosion on a Petrobras...

  • BRASILIA, March 20- Prosecutors who uncovered Brazil's biggest corruption case called on Friday for tougher prison sentences and more legal powers to crack down on rampant graft that costs taxpayers more than the annual budget for education and health. They also proposed reducing Brazil's long appeals process that often lets criminals go scot-free.

  • China indicts former oil boss on corruption charges Thursday, 19 Mar 2015 | 5:07 AM ET

    BEIJING— The former chairman of the stated-owned parent of PetroChina Ltd., Asia's biggest oil producer, was indicted Thursday in a spreading anti-corruption crackdown. Jiang Jiemin was charged with abusing his position at China National Petroleum Corp. and taking bribes, which led to large losses of public money, the national prosecutor's office said in a...

  • BRASILIA, March 18- Brazil's Comptroller-General Office on Wednesday added another six construction and engineering firms to an investigation of contractors that allegedly participated in a corruption ring at state-run oil company Petrobras. A total of 24 of Brazil's top builders are being investigated for suspected overpricing of contracts in a...

  • BRASILIA/ ZURICH, March 18- Swiss prosecutors have uncovered over 300 accounts at more than 30 Swiss banks that they suspect are linked to the massive corruption and money-laundering scandal at Brazil's state-run oil company Petroleo Brasileiro SA. Switzerland has frozen roughly $400 million in Swiss accounts in the investigation and has begun to return an...

  • BRASILIA, March 18- At the start of the year, few would have guessed that a "Chicago Boy" economist would win over Brazil's leftist president, Dilma Rousseff. After two months on the job, the 54- year-old Levy has grown closer to Rousseff and earned a place in her inner circle as she tries to pull Brazil's economy out of a prolonged slump, government sources told Reuters.

  • BRASILIA, March 18- Brazil's Comptroller-General Office on Wednesday added another six construction and engineering firms to an investigation of contractors that allegedly participated in a corruption ring at state-run oil company Petrobras. A total of 24 of Brazil's top builders are now being investigated for suspected overpricing of contracts in a...