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Petroleo Brasileiro Petrobras SA

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  • SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence that the former director, Nestor Cervero, set up a...

  • SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence to support charges by prosecutors that the former...

  • On his first official trip to Latin America, Li saw a raft of agreements signed, ranging from a $1 billion purchase of passenger jets made by Brazil's Embraer to the lifting of an import ban on Brazilian beef and a long-discussed plan to build a railroad over the Andes to the Pacific. The fund was another sign of China flexing its financial might in Latin America, a...

  • Brazil's Petrobras output up 8.8 pct in April Monday, 18 May 2015 | 9:04 PM ET

    SAO PAULO, May 18- Brazil's state-run oil company Petroleo Brasileiro SA said on Monday that output in Brazil and abroad rose 8.8 percent in April from a year ago to 2.78 million barrels a day of oil and equivalent natural gas a day. Petrobras said sub-salt production reached a record on April 11th at 590,000 barrels per day. Petrobras profit in the three months...

  • BRASILIA, May 15- The corporate investment wing of Brazil's national development bank reported a first quarter loss of 891 million reais due to falling share prices, the bank, known as BNDES, said on Friday. A year ago, the holding company, BNDES Participações SA, posted a profit of 181 million reais. The portfolio of BNDESPAR, as the BNDES unit is known, includes...

  • RIO DE JANEIRO, May 14- Brazilian President Dilma Rousseff said on Thursday that her government will maintain rules that mandate production-sharing contracts for the country's most promising areas and high national content requirements for the oil industry. "The local content policy is not something that can be set aside, it is central to my policy of...

  • BRASILIA/ SAO PAULO, May 8- Brazil Finance Minister Joaquim Levy's four-month-old austerity plan is encountering growing resistance in Congress, as some legislators say his policies may deepen a looming recession. This week, leaders in President Dilma Rousseff's own Workers' Party refused to pass a reduction in social welfare benefits designed to save the...

  • SAO PAULO, May 7- German engineering firm Bilfinger has become the first international company to disclose to Brazil that it may have paid bribes as it seeks leniency under a new anti-corruption law, Comptroller General Valdir Simão said on Thursday. By reporting potential graft to the comptroller, known by the acronym CGU, Bilfinger hopes to continue...

  • SAO PAULO, May 4- Recent setbacks for prosecutors in a huge corruption scheme at Brazil's state-run oil company Petroleo Brasileiro SA suggest they will struggle to win as many convictions as they seek. The Supreme Court's decision last week to release from jail nine executives at construction companies suspected of paying bribes in the scheme, and put them...

  • Brazil's Petrobras names new board members Wednesday, 29 Apr 2015 | 5:37 PM ET

    RIO DE JANEIRO, April 29- Shareholders of Petrobas, Brazil's state-run oil producer, elected new members to the board of directors on Wednesday, outgoing board member Silvio Sinedino told Reuters. Murilo Ferreira, chief executive of miner Vale SA, will take over as chairman of the board at Petrobras, or Petroleo Brasileiro SA, Sinedino added.

  • RIO DE JANEIRO, April 24- Petrobras' decision to take a massive $17 billion write-down to account for overvalued assets and corruption-related costs is only the start of a broad overhaul needed to revive Brazil's troubled state-owned oil company. While many have focused on the $2.1 billion, or 12 percent of the write-down, related to money siphoned off in a...

  • RIO DE JANEIRO, April 24- Petrobras' decision to take a massive $17 billion write-down to account for overvalued assets and corruption-related costs is only the start of a broad overhaul needed to revive Brazil's troubled state-owned oil company. While many have focused on the $2.1 billion, or 12 percent of the write-down, related to money siphoned off in a...

  • BRASILIA, April 23- Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's CEO said on Thursday. Van Beurden briefed Brazilian President Dilma Rousseff for 1-1/ 2 hours on Thursday on his company's...

  • RIO DE JANEIRO, April 23- Shares in Brazil's state-run oil company Petrobras fell 5 percent on Thursday, a day after it reported the largest loss ever on $17 billion in charges, giving investors a deeper look at the fallout from a huge corruption scandal. Preferred shares pared losses after a sharp opening selloff in Sao Paulo as traders weighed the greater...

  • Early movers: PBR, MMM, CAT & more Thursday, 23 Apr 2015 | 8:12 AM ET
    Traders work the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • RIO DE JANEIRO, April 22- Brazilian state-run oil company Petrobras reported its biggest-ever loss on Wednesday, the result of a 50.8- billion-real write-down in the wake of a massive corruption scandal. A widening international probe of contract fixing, bribery and political kickbacks at the company, formally called Petroleo Brasileiro SA, led to lengthy...

  • RIO DE JANEIRO, April 22- Brazil's state-run oil company Petroleo Brasileiro SA, which has been dogged by a wide-spread corruption scandal, reported on Wednesday a 2014 net loss of 21.6 billion reais after taking 50.8 billion reais in charges. Petrobras had delayed its results for several months to address issues related to its operations, including refining...

  • Petrobras loses $9B in Q4 in wake of scandal Wednesday, 22 Apr 2015 | 7:58 PM ET
    Petrobras gas station in Brazil

    The Brazilian oil company, embroiled in a corruption scandal, unveiled the estimate in its audited fourth-quarter financials.

  • RIO DE JANEIRO, April 22- Brazil's state-run oil company Petroleo Brasileiro SA said on Wednesday that it lost 26.6 billion reais in the fourth quarter after taking a write-down of 50.8 billion reais because of corruption and other impairments.

  • Judge Sergio Moro also convicted black-market money dealer Alberto Youssef for laundering bribe money and sentenced him to nine years and two months in prison. It was initially the arrest of Youssef and then of Costa in March last year that set off the multibillion-dollar political kickback scandal, Brazil's biggest ever. Since the arrests of Youssef and...