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Petrobras News

New Petrobras boss seeks free-market 'efficiency' for oil giant

Rio De Janeiro - The new boss of Brazilian state-owned oil giant Petrobras said Thursday that he wanted to draw a line under the company's graft-mired past and offer "a new dawn.

US, Brazil fine Petrobras $853 mn in bribery scandal

Washington - US and Brazilian authorities have fined Brazil's state oil giant Petrobras more than $853 million for covering up a massive bribery scheme involving Brazilian politicians and political parties, the US Justice Department announced Thursday.

US, Brazil fine Petrobras $853 mn in bribery scandal

Washington - US and Brazilian authorities have fined Brazil's state oil giant Petrobras more than $853 million for covering up bribes to Brazilian politicians and political parties, the US Justice Department announced Thursday.

Brazil strikes recede, but now government has to pay

Rio De Janeiro - Brazilian oil workers called off a three-day strike Thursday, bringing relief to state energy giant Petrobras and the embattled center-right government, still reeling from a truckers' strike that brought Latin America's biggest economy to a standstill....

After truckers, Brazil oil workers go on strike

Rio De Janeiro - Brazilian oil sector workers began a three-day strike Wednesday in at least eight refineries, but were not expected to disrupt fuel supplies as the country started to recover from a devastating truckers' protest.

Brazil's scandal-hit Petrobras posts new losses for 2017

Rio De Janeiro - Brazil's troubled national oil company Petrobras on Thursday posted net losses of 446 million reais ($139.7 million) for 2017, reflecting continued fallout from the "Car Wash" corruption scandal, but sharply improving on the previous year.

Petrobras ex-oil executive gets 11 years prison for corruption

Bras - A former head of Brazilian oil giant Petrobras was sentenced Wednesday to 11 years prison as part of a vast corruption probe that has tainted much of the country's political and business elite.

Petrobras agrees to pay nearly $3 bn to settle US class action suit

Rio De Janeiro - Petrobras has agreed to pay $2.95 billion to settle a class action suit in New York brought on behalf of investors harmed by a huge corruption scandal at the Brazilian state oil giant, the company said Wednesday.

Pioneers push limits on Brazil's deep-sea oil frontier

Santo Cristo - Scanning the maze of pipes and valves sprouting from one of Brazil's pioneering deep Atlantic oil platforms, Lucas Azevedo doesn't mince words.

Brazil formally charges two ex-presidents in Petrobras graft

Bras - Brazil on Tuesday formally charged ex-presidents Dilma Rousseff and Luiz Inacio Lula da Silva with racketeering for plotting to skim funds from Petrobras, the state oil giant.

Petrobras execs get huge fine in refinery buy case

Rio De Janeiro - A Brazilian court Wednesday ordered two former Petrobras officials to pay fines totaling more than $80 million for grossly mishandling the purchase of a Texas refinery.

Petrobras profits plummet in second quarter

Rio De Janeiro - Brazil's troubled oil giant Petrobas on Thursday reported a 93 percent drop in profits in the second quarter of 2017 from the previous three months.Petrobras reported 316 million reais profits ($100 million), down from 4.4 billion in the first quarter....

Ex-chief of Brazil's Petrobras arrested in graft probe

Rio De Janeiro - Brazilian federal police on Thursday arrested a former head of Petrobras and the Banco do Brasil, marking a new phase of a sweeping graft probe into the state-owned oil company.

Two former executives of Brazil's Petrobras arrested

S - Two former high-level executives of the Brazilian state oil company Petrobras were arrested in connection with a sweeping corruption investigation dubbed "Operation Car Wash," prosecutors said Thursday.

Brazil's 'Car Wash' scandal: three years of upheaval

Bras - The authorization by Brazil's Supreme Court on Tuesday of probes against nine ministers and dozens of lawmakers marks a new tremor in a corruption scandal shaking Latin America's biggest country.

Brazil prosecutor warns corruption drive under threat

S - The top prosecutor in Brazil's biggest ever corruption investigation called Friday on the public to rally around the operation in the face of attempts to shut it down.

Brazil court okays probe of Lula in criminal corruption ring

Bras - Brazil's ex-president Luiz Ignacio Lula da Silva will be probed for alleged membership in a crime ring that organized the mass looting of the state oil company Petrobras, the Supreme Court said Thursday.

Brazil police urge graft charges against ex-leader Lula

Rio De Janeiro - The Brazilian police recommended corruption charges against former president Luiz Inacio Lula da Silva on Friday as part of a probe into a huge embezzlement scheme at the state oil company Petrobras.

Brazil's Petrobras corruption: a multi-layered scandal

Rio De Janeiro - The Petrobras corruption scandal rocking Brazil could see iconic leftist leader Luiz Inacio Lula da Silva end up behind bars -- and even help bring down his successor President Dilma Rousseff.

Op-Ed: Economic indicators are flashing light green this holiday season

It basically boiled down to figuring out how to make money with the technology. Once we wrapped our brains around that, the money started to flow. The same thing is about to happen with Green technology.

Arrests of senator, bank CEO deepen Brazil corruption probe

Bras - Brazilian police on Wednesday arrested a senior ruling party senator and a billionaire investment banker in the ever-intensifying probe of a huge corruption network centered on state oil giant Petrobras.

Brazil anti-corruption fight 'a revolution': Judge

Washington - Brazil's huge anti-corruption campaign, which has already snared leading politicians and business executives, is a "revolution" in the way Latin America's biggest country is run, the head of the Supreme Court said Monday.

Brazil corruption scandal could top $5.3 bn: Prosecutor

Rio De Janeiro - Damage from the gargantuan corruption scandal centered on Brazilian state oil company Petrobras could amount to as much as 20 billion reais ($5.3 billion), a lead prosecutor said Friday.

Brazil's Rousseff to be investigated for alleged funds misuse

Bras - President Dilma Rousseff's campaign will be investigated for alleged use of funds skimmed from the vast Petrobras corruption scheme, officials said Wednesday, in a twist that could potentially end her term early.

Brazil high court: Lula can be questioned in Petrobras probe

Bras - Police in Brazil can question former president Luiz Inacio Lula da Silva as they probe the massive money-laundering scandal at state oil giant Petrobras, the nation's Supreme Court ruled.

Brazil police want court OK to question Lula on Petrobras

Bras - Brazilian police have asked the Supreme Court for permission to question former president Luiz Inacio Lula da Silva, who they say may have benefited from the corruption scandal roiling state oil giant Petrobras.

Brazil graft probe targets two in president's inner circle: Reports

Bras - Brazilian President Dilma Rousseff's former campaign treasurer and her chief of staff have been placed under investigation in the Petrobras mega corruption scandal, the local press reported Sunday.

Top former aide to Lula charged in Brazil corruption

Bras - A former top aide to ex-president Luiz Inacio Lula da Silva was charged Friday in Brazil's huge corruption probe, along with the former treasurer of the ruling Workers' Party.

Brazil speaker in corruption scandal won't resign

S - The speaker of Brazil's lower house of congress defiantly vowed not to resign Friday, a day after being charged in a massive corruption scandal."Resignation is not a word that is part of my vocabulary and it won't be, you can be sure of that.

Brazil police target politicians in new Petrobras raids

Bras - Brazilian police probing the giant Petrobras corruption scandal launched raids Tuesday against several politicians, including former president Fernando Collor de Mello, reportedly seizing a Ferrari and other luxury cars from his home.
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