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Petroleo Brasileiro Petrobras SA

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  • RIO DE JANEIRO, June 29- Brazil's state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry's largest debt burden and restore confidence after a devastating corruption scandal. Petroleo Brasileiro SA, as the company is formally known, will invest $130.3...

  • NEW YORK, June 29- Brazil's President Dilma Rousseff on Monday drew on her own experience as a political prisoner during the country's dictatorship to denounce informants in a corruption scandal that has pummeled her popularity. Speaking to journalists in New York, Rousseff contrasted her experience in jail in the early 1970 s opposing Brazil's...

  • RIO DE JANEIRO, June 29- Brazil's state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry's largest debt burden and restore confidence after a devastating corruption scandal. Petroleo Brasileiro SA, as the company is formally known, will invest $130.3...

  • NEW YORK, June 25- Brazil's state-run oil company, Petroleo Brasileiro Petrobras SA, urged a U.S. judge on Thursday to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper said the company itself was a victim of the...

  • NEW YORK, June 25- Brazil's state-run oil company, Petroleo Brasileiro Petrobras SA, urged a U.S. judge on Thursday to throw out an investors' class action lawsuit over its multibillion-dollar bribery scandal. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper blamed the fraud on a handful of individuals and said the company could...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. Police also apprehended Otavio Marques Azevedo, CEO of Andrade Gutierrez,...

  • CURITIBA, Brazil, June 23- Brazil's biggest corruption investigation could spread to its largest electric utility, Eletrobras, and more than a dozen foreign companies, a lead prosecutor said on Tuesday, in a sign of further turbulence for the country's business and political establishment. Carlos Fernando dos Santos Lima said a scheme similar to one set up as...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. In pre-dawn raids that netted 12 arrests in four states, police also...

  • RIO DE JANEIRO, June 19- Oil spilled from a pipeline linking a main Atlantic Ocean terminal with a refinery near Rio de Janeiro on Friday, Brazil's state-run oil company Petroleo Brasileiro SA said. The narrow coastal region where the spill occurred is in Rio de Janeiro's Costa Verde or " Green Coast"- one of Brazil's most beloved tourist regions and home to one of the...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. In pre-dawn raids that netted 12 arrests in four states, police also...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, local media said, pulling the most high-profile executive into the corruption investigation at state-run oil firm Petrobras. Odebrecht, which has 200,000 workers and a presence in 21 countries,...

  • RIO DE JANEIRO, June 16- Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. However, executives at Petroleo Brasileiro SA, as Petrobras is formally known, have run into internal and...

  • RIO DE JANEIRO, June 15- Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. However, executives at Petroleo Brasileiro SA, as Petrobras is formally known, have run into internal and...

  • The infrastructure plan is meant to restore growth to Brazil's faltering economy and raise Rousseff's popularity, which has been battered by high inflation, rising unemployment and a corruption scandal at state-run oil company Petrobras. The World Economic Forum ranks Brazil only 120th out of 144 countries for overall quality of infrastructure, with...

  • SAO PAULO, June 5- A Brazilian court is expected to approve a debtor-in-possession loan to engineering firm OAS SA, which has filed for bankruptcy protection, as early as next week, two sources with knowledge of the deal said on Friday. The judge overseeing the bankruptcy process could free up the so-called DIP loan of 800 million reais after court-appointed...

  • LONDON, June 2- Europe's top oil and gas companies urged governments around the world to introduce a global pricing system for carbon emissions on Monday, as governments meet in Bonn, Germany, to work on a U.N. deal to fight climate change. Thirty-two energy companies led by Russia's Gazprom accounted for almost a third of all man-made greenhouse gas emissions in...

  • RIO DE JANEIRO, May 27- Brazil's state-run oil company, Petroleo Brasileiro SA, will pay employees 1.04 billion reais in bonuses for 2014 despite recording its largest-ever loss and rejecting investor dividends, a company union said on Wednesday. While Brazil's government owns a majority of voting common shares, non-government investors, primarily holders...

  • 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...