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Petroleo Brasileiro Petrobras SA

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  • 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...

  • 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...