Arab Today, arab today brazil’s petrobras reports record loss in 2015
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

Brazil’s Petrobras reports record loss in 2015

Arab Today, arab today

Arab Today, arab today Brazil’s Petrobras reports record loss in 2015

Brazilian state oil company Petrobras
Rio de Janeiro - AFP

Brazilian state oil company Petrobras on Monday reported a record loss for 2015, hit by the crash in crude prices and a corruption scandal in which it is the central player.

The firm said it lost 34.8 billion reals ($9.6 billion), its second year in the red and worst performance since its founding in 1953.

“It was an extremely difficult year for the oil industry in general,” chief executive Aldemir Bendine told a press conference.

The company lost $7.2 billion in 2014.

It said it faced a long list of adverse business conditions last year that also included a sinking real currency, expensive interest payments and Brazil’s credit downgrade to junk status by the big three ratings agencies.

Anti-corruption investigators have uncovered a massive fraud scheme in which Petrobras executives colluded with contractors to overbill the company over the course of a decade, bribing politicians and political parties to keep the scheme going.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil’s petrobras reports record loss in 2015 Arab Today, arab today brazil’s petrobras reports record loss in 2015

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil’s petrobras reports record loss in 2015 Arab Today, arab today brazil’s petrobras reports record loss in 2015

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday