Home / Tag Archives: Petrobras

Tag Archives: Petrobras

Former Brazil energy minister new CEO at troubled Petrobras

Petrobras, energy minister

RIO DE JANEIRO (AP) — Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO was working as chairman of Sao Paulo-based financial bourse BM&FBovespa. Parente served ...

Read More »

Seized spreadsheets list payments to top Brazil politicians

Seized spreadsheets list payments to top Brazil politicians

RIO DE JANEIRO (AP) — In another stunning turn in the snowballing corruption investigation that is shaking Brazil, top newspapers on Wednesday released scans of dozens of spreadsheets seized by police listing what appeared to be payments by one of the country’s biggest companies to about 200 politicians, including code names and monetary values. The newspapers O Estado de S. ...

Read More »

Brazil’s Petrobras reports $10.2 billion quarterly loss

Brazil's Petrobras reports $10.2 billion quarterly loss

RIO DE JANEIRO (AP) — Brazil’s state-run oil company, Petrobras, reported a record quarterly loss of $10.2 billion Monday due to a large reduction in the value of some assets amid lower oil prices. Petrobras has been at the center of a sprawling corruption scandal that has ensnared some of Brazil’s most powerful lawmakers and business executives. The embattled company ...

Read More »

Brazil’s Marcelo Odebrecht sentenced to more than 19 years

Marcelo Odebrecht, CEO of Odebrecht. (Image: Worldsteel via Flickr)

SAO PAULO (AP) — A federal judge on Tuesday sentenced the former president of the country’s largest construction company to more than 19 years in prison for involvement in the massive corruption scheme at Brazil’s state-run oil company Petrobras. Judge Sergio Moro, who is heading the Petrobras investigation, sentenced Marcelo Odebrecht to 19 years and four months imprisonment on charges ...

Read More »

Brazil sentences former Petrobras executive to prison

RIO DE JANEIRO — The former director of Petrobras’ international division has been sentenced to 12 years in prison as part of an ongoing investigation into bribery and corruption at Brazil’s state-run oil company. A federal judge on Monday sentenced Jorge Zelada after finding him guilty of money-laundering and corruption. He was absolved of tax evasion charges. Zelada was arrested in ...

Read More »

Brazil’s Petrobras overhauls corporate structure

RIO DE JANEIRO — Brazil’s state-run oil company Petrobras said Thursday it will slash management jobs as part of an efficiency drive approved by its board of directors. The plan calls for a 30 percent reduction of management jobs in non-operating areas. The company has about 7,500 approved management positions, of which 5,300 are in non-operating areas. Petrobras said the ...

Read More »

Brazil prosecutors say bribes paid in Petrobras Texas refinery deal

CURITIBA, Brazil – Brazilian police and prosecutors investigating corruption at Petroleo Brasileiro SA said on Monday they have evidence that bribes were paid as part of the state-run oil company’s $1.2 billion purchase of Pasadena Refining Systems Inc in 2006. At a news conference announcing a new round of searches, seizures and arrests, federal prosecutor Carlos Fernando dos Santos Lima ...

Read More »