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  • Petrobras fuel tank explodes in Brazil, killing two Wednesday, 26 Aug 2015 | 4:42 PM ET

    RIO DE JANEIRO, Aug 26- A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. while workers were doing planned maintenance on the heating unit, said the press office of BR Distribuidora SA, the...

  • SAO PAULO, Aug 26- While many of Brazil's largest companies have grown savvy about hedging their debt against big currency swings, an increasing number could feel the heat from the real's plunge to a more than 12- year low due to poor planning and rising debt, bankers said. Debt refinancing and hedging costs are rapidly rising as Brazil's economy falls into...

  • BRASILIA, Aug 26- Brazil's government is preparing a deal to allow construction companies implicated in a massive corruption scandal to do business again with state-run oil company Petrobras in exchange for the payment of fines and damages, a government official briefed on the matter said on Wednesday. Late last year, Petroleo Brasileiro froze payments to...

  • SAO PAULO, Aug 21- The vice president of Brazil's TSE electoral authority on Friday asked for an investigation of President Dilma Rousseff's 2014 re-election campaign, citing evidence that it may have been financed with money from a corruption scheme at state-run oil firm Petroleo Brasileiro SA. In a document sent to federal prosecutors and federal police,...

  • SAO PAULO, Aug 21- Construction and engineering group Camargo Corrêa SA has agreed to pay 700 million reais to compensate state-run companies for damages related to bribery and price-fixing, prosecutors said on Friday. The funds will mostly go to public companies that were victims of Brazil's largest ever corruption scheme, prosecutors said.

  • Success stories until recently, emerging economies are seen as casualties now— of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats. The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe. Investors there worry that China...

  • SAO PAULO, Aug 19- Brazil's state-run oil firm Petroleo Brasileiro SA said in a securities filing on Wednesday it was not in negotiation to pay a fine to settle criminal and civil investigations in the United States. The law firms report to Ellen Gracie Northfleet, former chief justice of Brazil's Supreme Court and Andreas Pohlmann. Gibson, Dunn& Crutcher LLP said...

  • SAO PAULO, Aug 19- Brazil's state-run oil firm Petroleo Brasileiro SA said in a securities filing on Wednesday it was not in negotiation to pay a fine to settle criminal and civil investigations in the United States.

  • SAO PAULO, Aug 19- Brazilian engineering company Camargo Correa has agreed to pay fines of more than 104 million reais and admit to participating in a cartel that fixed prices on contracts with state-run oil producer Petrobras, antitrust regulator Cade said on Wednesday. Camargo Correa was the first of Brazil's construction companies whose top executives...

  • RIO DE JANEIRO, Aug 17- The board of directors of Brazil's state-controlled oil company Petroleo Brasileiro SA approved the sale of at least 25 percent of its fuel unit BR Distribuidora, according to board minutes published in a securities filing late Monday. Reuters previously reported that Petrobras would seek to sell at least a quarter of the unit, which...

  • RIO DE JANEIRO/ NEW YORK, Aug 18- Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. State-run Petroleo Brasileiro SA, as the company is formally known, expects to face the largest penalties...

  • SAO PAULO, August 17- A Brazilian judge sentenced Nestor Cervero, former international chief of state-run oil firm Petrobras, to just over 12 years in prison on Monday for corruption and money laundering related to a bribe allegedly paid to the speaker of Brazil's lower house of Congress. Cervero and two other defendants are accused of organizing bribes from...

  • SAO PAULO, Aug 14- State-run oil company Petroleo Brasileiro SA said it will take a 2 billion reais charge against third-quarter earnings to pay a disputed tax bill with Brazil's federal government, its second unexpected tax charge in a month. The charge is related to 6 billion reais of disputed tax assessments over eight years between 1999 and 2012, Petrobras,...

  • SAO PAULO, Aug 14- More defendants are negotiating and signing plea bargain deals in a massive bribery case focused on Brazil's state-run oil firm Petrobras as federal prosecutors prepare charges against higher-profile suspects, including politicians. Petrobras' former head of corporate services Renato Duque and Fernando Soares, a lobbyist who helped...

  • RIO DE JANEIRO, Aug 12- Queiroz Galvão Exploração e Produção SA said on Wednesday that the Manati offshore oil field in Brazil holds 13.5 billion cubic meters of proven and probable, or "P2," natural gas reserves. The Manati field is 45 percent owned by QGEP. Brazil's state-run oil company Petroleo Brasileiro SA owns 35 percent and is the field operator,...

  • SAO PAULO, Aug 7- Brazilian prosecutors plan to file criminal charges stemming from the lease of an Ensco Plc offshore oil-drilling ship to Brazil's state-run oil company Petrobras "in due course," they said. The plan to prosecute over the Ensco-Petrobras charter was mentioned in a Thursday statement presenting corruption charges stemming from the 2009 lease...

  • SAO PAULO, Aug 7- The chief executive of Braskem SA said on Friday that Latin America's largest petrochemical company is not currently facing legal action related to a naphtha supply contract with its second largest shareholder, Brazil's Petrobras. Braskem CEO Carlos Fadigas also said in an earnings call that he saw "no grounds" for the accusation that the...

  • RIO DE JANEIRO, Aug 6- Brazilian state-led oil company Petroleo Brasileiro SA said its second-quarter net income plunged 89 percent after a one-time charge for underperforming assets that caught analysts off guard. The 1.28- billion-real charge was taken as Petrobras' new executives and board of directors try to control the company's $132 billion debt, the...

  • BRASILIA, Aug 6- Allies of Brazil's President Dilma Rousseff have begun talking with her opponents about filling what they see as a leadership vacuum and her inability to pull the country out of an economic tailspin, party insiders said on Thursday. The president's failure to control her political base in Congress, dramatized by House Speaker Eduardo Cunha's...

  • RIO DE JANEIRO, Aug 6- Brazil's state-led oil company Petroleo Brasileiro SA said its second-quarter net income fell a steeper-than-expected 89 percent after a one-time charge for underperforming assets. Petrobras also took an unexpected 1.6 billion real charge to resolve a tax issue with Brazil's federal government. "We want to leave the company in a...