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Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Corruption Scandal Worsens

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has still been dealing with the corruption scandal that hit the company last month. Recently, the Brazilian regulatory authority, CVM, interrogated the board members of Petrobras in relation to the case. The ex-finance minister of the country, Guido Mantega, is also being interrogated for the same reason. Alberto Youssef, […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Sorts Out its Costs for FY2015

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is one Brazilian company that has its finances for the year all set out. The company has approved a funding of $6.12 billion in credit and cost of sales for the year. The announcement, however, came after the company failed to report its 3Q2014. PBR stated that the delay […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Reports Loss of $7.2 billion

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has reportedly lost a massive $2 billion in bribery related costs. The company announced a total loss of about $7.2 billion on Wednesday. Petrobras’ CEO and five other high-ranking officials have resigned over the scandal. The former executives of the company have been accused by Federal prosecutors of diverting […]

New CEO Tries to Save Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has been having quite a lot of problems and the new CEO, Aldemir Bendine, is nearing to overcome just the first one. A banker by profession, the new CEO has been having a hard time getting auditors to approve the first financial results under his tenure. The company now […]

Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR) Petrobras : Protests Across Brazil Seek Ouster Of President

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has once again found itself at the Centre of controversy. Anti-government protests in Brazil entered day two, over which the company has a major involvement. The protests are pressing upon President Dilma Rousseff, raising her disapproval ratings due to the involvement in corruption allegations with the state oil company, […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Corruption Allegations Refuse To Die

Boston, MA 11/23/2014 (wallstreetpr) –  Authorities in Brazil were forced to fight back after a magazine alleged that the country’s president had a lot to do with the escalating scandal surrounding Petrobras. Dilma Rousseff press service has already lambasted Veja magazine for alleging that former Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) director Paulo Roberto Costa […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Went Overboard On Its Comperj Refinery Spent

Boston, MA 10/16/2014 (wallstreetpr) – The tribunal looking at the state spending has come to acknowledge that Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is surely not keeping up with its budget. According to Tribunal, the state-run producer has crossed its budget by over 60% for one of its refineries, Comperj. The audit into the company’s […]

Stocks On Radar: Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Covidien plc (NYSE:COV), National Bank of Greece (ADR) (NYSE:NBG)

Boston, MA 10/16/2014 (wallstreetpr) – The integrated oil and gas producer from Brazil, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) saw the share price of its ADR plummet by nearly 9 percent to end at $15.55 at close of October 15th trading. The huge sell off is an continuation of the volatility the stock has been […]

Scandal hit Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) becomes part o a latest allegation by former director

Boston, MA 10/10/2014 (wallstreetpr) – Paulo Roberto Costa, a former director of the Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) and currency broker Alberto Youssef have claimed, while testifying in the Brazilian Court of Justice that the treasurer of the Workers’ Party, which is the present ruling party, had received bribes from various works that were […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR): May find $18 difficult to cross

Boston, MA 10/07/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) (Closed: 15.80, Up: 13.10%) made a huge jump on the back of further advancement of the Brazilian Presidential candidate Aceio Neves, strengthening the possibility of seeing the end of price control in gasoline. An upgrade in rating to “Buy” by UBS analysts and a […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Books Losses On President Rouseff’s Comments

Boston, MA 09/29/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) nosedived by more than 11% during opening trade session today after the Brazilian President Dilma Rousseff called the company’s contributions to fund 2010 candidacy of Rousseff is baseless. The comments referred to an newspaper article that appeared in the weekly edition of Veja, disclosing […]

Foro Energy and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Sign Technology Cooperation Agreement

Boston, MA 08/26/2014 (wallstreetpr) – According to reports, Foro Energy and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) have decided to sign a technology cooperation agreement. The main agenda of this agreement is to initiate high power laser drilling research and development activities. This program will be initiated with the support of CENPES (Leopoldo Americo Miguez […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Looks To Fuel its Thermoelectric Plant Located in Brazil

Boston, MA 08/20/2014 (wallstreetpr) – According to reports, Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR) and YPFB; a Bolivian state-owned gas and oil company agreed to continue the natural gas supply to a Brazilian thermoelectric power plant till December 31, 2016. What’s the current status: YPFB supplies 2.24 million cubic feet of natural gas on a daily […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) Won’t Dilute Shares Prior To 2030

Boston, MA 07/03/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) made an important announcement this week that should come as good news for shareholders. The company’s CEO said she don’t expect to issue new shares that would have a dilutive impact on the stock before 2030. The company has 2030 as the end horizon […]

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR): Reissuing Drilling Services Contract

Boston, MA 07/01/2014 (wallstreetpr) – Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has reported a reduction in its rig fleet that is resulting in a drop in the suppliers margins. As a result, Petrobras is set to reissue a drilling services contract. It has plans to offer $2 billion in the so-called supply contracts. The specialty […]

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