Petrobras

Petrobras owes Brazil billions but unlikely to pay in 2018, minister says

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Stock Markets

Petrobras owes Brazil billions, unlikely to pay in 2018, minister says

© Reuters. Brazil's Planning Minister Dyogo de Oliveira reacts during launch ceremony of the "New School" (Novo Ensino Médio) at the Presidential …

Commodities

Petrobras, Pomerantz And The Impact Of Corporate Misconduct

After a little more than three years of litigation, Petrobras, the largest natural gas and oil company in Brazil, entered into a settlement agreement to pay $2.95 billion to shareholders as a result of a securities class action filed against the company in December of 2014.<p>Filed under Sections …

Entrepreneurship

No, Petrobras Won’t Save the Offshore Drillers

The Zephirin Group's “Lenny” Zephirin takes a look at the offshore drilling market on Friday, writing that Brazil continues to play an important role …

Oil

Shareholders in Brazil demand Petrobras match $3 billion U.S. settlement

RIO DE JANEIRO (Reuters) - Brazilian shareholders of state-controlled Petroleo Brasileiro SA (PETR4.SA) are petitioning a Brazilian court to be paid on similar terms as those given to U.S. shareholders in a $2.95 billion settlement, a lawyer told Reuters on Thursday.<p>Petrobras on Wednesday agreed to …

Law

Diamond Offshore Settles Dispute With Petrobras And Gets 2-Year Contract Extension

Diamond Offshore settles its dispute with Petrobras.<p>Petrobras grants a two-year extension to the current contract, but gets a heavy discount for the …

Business

Petrobras to pay $2.95 billion to settle U.S. class action over corruption

NEW YORK (Reuters) - Brazil's state-controlled oil company, Petroleo Brasileiro SA <PETR4.SA>, said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking to recoup money they claim to have lost as a result of a corruption scandal.<p>Petrobras, as …

Law

Petrobras of Brazil to Pay $2.95 Billion Over Corruption Scandal

Petróleo Brasileiro, Brazil’s state-controlled oil company, said on Wednesday that it had agreed to pay $2.95 billion to settle a shareholder lawsuit in the United States over a corruption scandal that has ensnared dozens of politicians and corporate executives, including two former Brazilian …

Business (India)

Petrobras to pay $3B to settle U.S. class action

Petrobras (NYSE:PBR) has agreed to pay $2.95B to settle a U.S. class action brought by investors who claim they lost money as a result of a …

Business

Petrobras agrees to pay $2.95B to settle case in the US

RIO DE JANEIRO (AP) — Brazil's state-run oil giant Petrobras has agreed to pay $2.95 billion to settle lawsuits in the United States over the sprawling corruption scandal that has ensnared dozens of officials and business executives across Latin America.<p>The company said in a statement on Wednesday …

Business

Petrobras to Pay $3Billion to End Lawsuits

Bloomberg’s Paula Sambo discusses a $2.95 billion lawsuit settlement by Brazil’s state-run energy explorer Petrobras and what it may mean for the …

Petrobras to pay $3 billion to settle corruption suits

Brazil's state-run oil producer Petrobras agreed to pay $2.95 billion to settle U.S. class-action lawsuits over a massive corruption scandal that has …

Corruption

Petrobras to Pay $2.95 Billion to Settle U.S. Suit Over Corruption

RIO DE JANEIRO – Brazilian state-run oil company Petróleo Brasileiro SA signed Wednesday one of the highest-value settlements in history to end a class-action lawsuit by U.S. investors who had sought to recoup corruption-related losses.<p>Petrobras, as the company is known, said it agreed to pay $2.95 …

Class Action

Brazil's Petrobras settles U.S. corruption class action for $2.95 billion | Reuters

This story has not been edited by Firstpost staff and is generated by auto-feed.<p>Published Date: Jan 03, 2018 10:30 pm | Updated Date: Jan 03, 2018 …

Corruption

Brazil's biggest company agrees to pay nearly $3 billion to settle US class action suit

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 …

Oil & Gas Industry

Petrobras reaches $2.95bn settlement in US investor lawsuit

Brazil’s Petrobras says it has reached a $2.95bnsettlement with investors in the US to end a class-action lawsuit over a corruption scandal at the …

São Paulo

Brazil’s Petrobras to pay $2.95bn in US class-action corruption lawsuit

Business (South Africa)

Petrobas agrees to pay $3bn to settle US lawsuit over corruption scandal

Brazil’s state-run oil company, Petrobras Brasileiro, said it will pay $2.95bn (£2.2bn) to settle a US lawsuit brought by investors who claim they …

Corruption

Petrobras - Brazilian Oil Should Recover As Stability Resumes

Petrobras has had a difficult time since the start of the oil crash. The difficult environment combined with corruption in Brazil puts Petrobras in a …

Stocks

Petrobras pays $2.95bn to settle US class action

<b>The Brazilian state oil company, Petrobras, has agreed to pay almost $3bn (£2.18bn) to settle a class action suit in the United States.</b><p>The case was brought by investors who said their holdings were damaged by a corruption scandal facing the firm.<p>Former Petrobras executives are accused of accepting …

Corruption

Petrobras to pay nearly $3bn to settle US lawsuit

Brazilian oil company agrees to settle US lawsuits over ongoing corruption scandal.<p>Brazil's state-run oil company has said it will pay $2.95bn to settle a class action brought by investors in the United States.<p>Petroleo Brasilerio SA, commonly known as Petrobras, said in a statement on Wednesday …

Brazil

Brazilian regulator accuses Petrobras ex-executives of graft

SAO PAULO (Reuters) - Brazil's securities regulator formally accused eight former executives of state-run oil company Petroleo Brasileiro SA of corruption on Friday, as the world's largest graft investigation stretches deep into its third year.<p>According to a legal filing by the CVM, Brazil's …

Brazil

Petrobras Comeback Snubbed by Former Backer as Election Nears

Petrobras may be making progress in its plan to reduce debt, but a former shareholder in the state-controlled energy giant isn’t ready to jump back …

Oil & Gas Industry

Keppel unit to pay $422 million to resolve Petrobras bribery probes | Reuters

This story has not been edited by Firstpost staff and is generated by auto-feed.<p>Published Date: Dec 23, 2017 06:15 am | Updated Date: Dec 23, 2017 …

Oil & Gas Industry

Brazil’s Petrobras has three bids for pipeline business

Sao Paulo — At least three consortiums, led by France’s Engie, Australia’s Macquarie Group and the United Arab Emirates’ sovereign wealth fund …

Business (South Africa)

Petrobras nudges planned spending slightly higher in latest five-year plan

• Petrobras (PBR +3.1%) offers a new five-year plan forecasting $74.5B in investments during 2018-22, slightly higher than its $74.1B outlook for …

Stock Markets

Exclusive - Engie, Mubadala, Macquarie groups bid for Petrobras pipelines: sources

SAO PAULO (Reuters) - At least three consortia, led by France's Engie SA (PA:ENGIE), Australia's Macquarie Group Ltd (AX:MQG) and the United Arab …

Oil

Brazil charges Swiss bank manager with laundering bribe money

BRASILIA (Reuters) - Federal prosecutors on Tuesday charged a Spanish-Swiss banker with laundering $21.7 million in graft money for Brazilian clients …

Stock Markets

Petrobras: Turnaround Still Leaves More Room To Run

More often than not, owning Petrobras hasn't been a good choice. The company has a record of destroying shareholder value.<p>Despite that, Petrobras …

Business

Petrobras Makes a Year's Worth of Announcements in Just a Week

Petrobras, carrying the largest debt load among global oil majors, is rolling a year’s worth of promises into a week of significant announcements …

Business