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Petroleo Brasileiro Petrobras SA

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  • RIO DE JANEIRO, March 12- The former head of Petrobras said on Thursday there was no way the state-run oil company could have discovered the massive corruption scheme that is adding to Brazil's economic and political troubles. Petroleo Brasileiro SA, as Petrobras is formally known, followed all internal procedure in approving more than $30 billion a year in...

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  • Petrobras scandal pushes Rousseff coalition to the brink Wednesday, 11 Mar 2015 | 4:22 PM ET

    BRASILIA, March 11- President Dilma Rousseff can no longer count on a key ally in her ruling coalition, complicating efforts to stave off what could be the roughest patch for Brazil's economy in a quarter-century. While few expect the PMDB to formally break with Rousseff's leftist Workers' Party in coming months, such open resistance to her legislative...

  • RIO DE JANEIRO, March 11- Brazil's Petrobras will receive cash recovered by Brazilian authorities as a result of their investigation of contract-fixing, bribery and political kickbacks at the state-run oil company, court officials said in a statement on Wednesday. Barusco, who told Congress on Tuesday that he and the treasurer of the ruling political party...

  • RIO DE JANEIRO, March 11- Brazil's office of the comptroller general said on Wednesday it had opened a case against 10 additional construction firms that may be involved in a massive corruption scheme at state-run oil firm Petroleo Brasileiro SA. The case runs against Alumini Engenharia, GDK, Promon Engenharia, Andrade Gutierrez, Fidens Engenharia, Sanko Sider,...

  • RIO DE JANEIRO, March 11- Brazil's office of the comptroller general said on Wednesday it has opened a case against 10 additional construction firms that have contracts with state-run oil firm Petroleo Brasileiro SA. The case runs against Alumni Engenharia, GDK, Promon Engenharia, Andrade Gutierrez, Fidens Engenharia, Sanko Sider, Odebrecht, Odebrecht Ôleo e...

  • BRASILIA, March 10- A former Petrobras executive told a congressional hearing in Brazil on Tuesday that the ruling political party received up to $200 million skimmed from contracts with the state-run oil company, reiterating claims made in plea bargain testimony. Pedro Barusco, a former executive at Petrobras' services division, said he had received...

  • BRASILIA, March 10- A former Petrobras executive told a congressional hearing in Brazil on Tuesday that the ruling political party received up to $200 million skimmed from contracts with the state-run oil company, publicly reiterating claims made in plea bargain testimony. Pedro Barusco, a former executive at Petrobras' services department, said he had...

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  • RIO DE JANEIRO, March 9- State-run Petroleo Brasileiro SA will appoint fewer politicians to its board and bring in more professional members who are respected by investors instead, the oil company's newest director told Reuters on Monday. Luiz Navarro, 49, a senior consultant with law firm Veirano Advogados in Brasilia, said the federal government has made no...

  • RIO DE JANEIRO/ BRASILIA, March 9- A leader of Brazil's Congress vowed on Monday not to let his party's feud with President Dilma Rousseff damage the economy or cause the country to lose its investment grade credit rating. The comments, by Eduardo Cunha, speaker of the Chamber of Deputies and a senior figure in the PMDB Party, came as Brazilian financial markets...

  • BRASILIA, March 9- Brazil's government remains committed to austerity measures despite increasing opposition from Congress and the population at large, a top official said on Monday. Mercadante's comments came as Brazil's financial markets tumbled on Monday. Congress has pushed back in recent days against austerity measures such as an increase in payroll...

  • BRASILIA, March 8- President Dilma Rousseff appealed to Brazilians on Sunday to back fiscal austerity policies, while saying that the belt-tightening will last as long as needed and results will only start showing at the end of this year. With the economy stalled and ties with her coalition allies in disarray due to a corruption probe at state-run oil company...

  • BRASILIA, March 8- President Dilma Rousseff appealed to Brazilians on Sunday to back fiscal austerity policies, while saying that the belt-tightening will last as long as needed and positive results will only start showing at the end of this year. With the economy stalled and relations with her coalition allies in disarray due to a massive corruption...

  • Brazil's Supreme Court will probe 34 politicians in connection with a multibillion-dollar kickback scheme at state-controlled oil company Petrobras.

  • BRASILIA/ SAO PAULO, March 5- A corruption scandal at state-run oil company Petrobras has entered a volatile new phase that could lead to jail for some of Brazil's best-known politicians and business leaders while making a likely recession even worse. A prosecutor's motion on Tuesday to open investigations against 54 individuals, reportedly including the...

  • RIO DE JANEIRO, March 5- The opening of a Brazilian congressional probe into alleged corruption at state-run oil company Petroleo Brasileiro SA erupted into a shouting match on Thursday when lawmakers rushed the dais and accused the probe's leader of seeking to manipulate the outcome. The dispute highlights the rising tension in Congress two days after a...

  • Rousseff met with legislative leaders from her coalition after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil's budget. If Congress blocks them, the government will have to make deeper spending cuts elsewhere to meet its fiscal savings target of 1.2 percent of gross domestic...

  • BRASILIA, March 3- Brazil's top prosecutor asked the Federal Supreme Court on Tuesday to open investigations into politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petroleo Brasileiro SA, a court official said on Tuesday. Janot's office did not release the names of the politicians to be investigated,...

  • BRASILIA, March 3- Brazil's top prosecutor Rodrigo Janot asked the Supreme Court on Tuesday to open an investigation into 54 politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petroleo Brasileiro SA, a Supreme Court spokesman said on Tuesday. Janot's office did not release the names of the politicians...