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Petroleo Brasileiro Petrobras SA

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  • BRASILIA, Dec 18- A congressional committee investigating a mushrooming corruption scandal at Brazil's state-run oil company Petroleo Brasileiro SA recommended on Thursday that prosecutors bring charges against 52 people for alleged money laundering and racketeering. It now goes before the two houses of Congress for debate and a final vote.

  • RIO DE JANEIRO, Dec 17- Petroleo Brasileiro SA's Chief Executive Officer Maria das Graças Foster said on Wednesday that she had offered to resign because of a widening alleged bribery scandal but that Brazil's President Dilma Rousseff had turned her down. "I need to be investigated, we all need to be investigated, that takes time," Foster told journalists at...

  • BRASILIA, Dec 17- Brazilian President Dilma Rousseff's approval rating has not suffered from a widening corruption scandal involving state-run oil company Petroleo Brasileiro SA and many Brazilians continue to trust her, a poll showed on Wednesday. Prosecutors have indicted nearly 40 people, including two former Petrobras directors and executives of...

  • RIO DE JANEIRO, Dec 17- Senior management at Petroleo Brasileiro SA may have to resign to avoid further delays of the Brazilian state-run oil company's audited third-quarter earnings report, Chief Executive Officer Maria das Graças Foster said on Wednesday. Foster said she had spoken to President Dilma Rousseff about the potential resignations, including...

  • RIO DE JANEIRO, Dec 16- Prosecutors in Rio de Janeiro said on Tuesday that they were seeking to indict the former chief executive officer of Brazilian state-run oil company Petroleo Brasileiro SA and a leading local construction and engineering firm for fraud. This list includes Jose Sergio Gabrielli, CEO from July 2005 to January 2012 and Renato Duque, the...

  • Julio Camargo, a consultant for contractor Toyo Setal, and lobbyist Fernando Soares were charged along with Cervero with allegedly paying out $40 million in kickbacks to political parties, executives and contractors and accepting $13 million in bribes from Korean shipbuilder Samsung Heavy Industries, the prosecutors said in a statement.

  • The prosecutors said Nestor Cervero, the former head of Petrobras' distribution subsidiary, as well as lobbyist Fernando Soares and Julio Camargo of local contractor Toyo Setal funneled $40 million of kickbacks and accepted $13 million in bribes from Korean shipbuilder Samsung Heavy Industries. Toyo Setal and Samsung Heavy Industries were not...

  • RIO DE JANEIRO, Dec 12- Brazil's state-run oil company Petroleo Brasileiro SA said it delayed the release of its third-quarter financial results for a second time on Friday as a result of new developments in a widening corruption probe. The corruption accusations have rattled the company, which was among the world's 10 largest by market value only six years ago...

  • BRASILIA/ SAO PAULO, Dec 11- The Brazilian government is working on a plan to help embattled state-controlled oil producer Petrobras borrow money through an offering of asset-backed securities before year end, Mines and Energy Minister Edison Lobão said on Thursday. The plan, under which the National Treasury and state-run power holding company Eletrobras...

  • RIO DE JANEIRO, Dec 8- State-controlled oil company Petroleo Brasileiro SA and its top executives face a class-action lawsuit in a federal court in New York over an alleged contract fixing, bribery and kickback scheme that lawyers say inflated the value of the company's assets. The suit was filed by law firm Wolf Popper LLP in the Southern District of New York on...

  • Brazil's anti-corruption comptroller Hage resigns Monday, 8 Dec 2014 | 11:32 AM ET

    BRASILIA, Dec 8- Comptroller General Jorge Hage, the man in charge of fighting corruption in the Brazilian government, announced his resignation on Monday amid a widening graft scandal centered on state-run oil company Petrobras. The process against Camargo Correa SA, Engevix SA, Galvao Engenharia SA, IESA, Mendes Junior SA, Grupo OAS SA, Queiroz Galvao SA and...

  • SAO PAULO, Dec 3- Brazil's comptroller general opened cases on Wednesday against eight engineering firms suspected of bribery and fraud in deals with Petrobras, holding them accountable for their role in a widening corruption scandal at the state-run oil company. If found responsible for the alleged graft scheme, some of Brazil's biggest industrial...

  • The process against Camargo Correa SA, Engevix SA, Galvao Engenharia SA, IESA, Mendes Junior SA, Grupo OAS SA, Queiroz Galvao SA and UTC-Constran could prevent them from signing new contracts and lead to fines and other penalties, the CGU said.

  • SAO PAULO, Dec 3- The chief financial officer of Brazil's Petroleo Brasileiro SA has agreed to a fine for stifling the influence of minority shareholders, the country's securities regulator said, as corruption allegations swirl around the state-run oil company. Securities watchdog CVM said on Wednesday that by letting state development bank BNDES and...

  • BRASILIA, Dec 2- A former Petrobras executive at the center of an alleged multibillion-dollar graft scheme involving the state-run oil company said on Tuesday that similar bribery and kickback schemes are prevalent in many Brazilian public-infrastructure projects. "What has been reported occurring at Petrobras happens all over Brazil in contracts for...

  • SAO PAULO, Nov 26- Defendants in a bribery investigation involving Brazil's state-run oil company Petrobras are trying to move the probe to the country's Supreme Court, which has a reputation for moving slowly and letting cases drag on for years. That way, he hopes to gather as much information as possible before the case goes to the Supreme Court, which under...

  • RIO DE JANEIRO, Nov 25- Brazil's state-run oil firm Petroleo Brasileiro SA said on Tuesday its board had approved the creation of a new role of Director for Governance, Risk and Compliance, as the firm battles with allegations of corruption.

  • SAO PAULO, Nov 25- When Brazilian President Dilma Rousseff first considered replacing Finance Minister Guido Mantega two years ago, a top aide confided that any good candidate for the job would have to meet two requirements. Levy, an executive at local bank Bradesco SA, is seen by most investors as a strong choice to try to restore confidence after four years of...

  • Early Movers: TIF, WMT, HMC, SNE, PBR & more Tuesday, 25 Nov 2014 | 8:13 AM ET
    A trader works on the floor of the New York Stock Exchange.

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

  • RIO DE JANEIRO, Nov 24- Brazil's state-run oil firm Petroleo Brasileiro SA said on Monday it had received a subpoena from the U.S. Securities and Exchange Commission asking for documents relating to an investigation it is pursuing. Petrobras did not provide details as to what documents the SEC had requested. The SEC investigation adds one more strand to a...