International Finance

Tag : Petrobras

Oil & Gas

Petrobras cuts spending by more than 30% for 2019

Pritam Bordoloi
Brazilian oil giant Petrobras has announced that it will cut spending by more than 30 percent. The company now plans to spend $10 billion-$11 billion in 2019 as it makes adjustments to the way it accounts for field unitisation, adapts to a weaker exchange rate against the dollar and delays drilling activities. The oil refiner...

Brazil takes a $27 billion hit

International Finance Desk
That’s the cost of the Petrobras scandal to the world’s seventh largest economy Kamilia Lahrichi April 8, 2015: The Petrobras oil scandal, which sparked massive protests across Brazil against the government’s corruption and the economic slowdown, has cost $27.1 billion to the GDP of the world’s seventh largest economy, according to an April 2015 study...
Business Leaders

Brazil’s President Rousseff stays in power

State interventionism wins over free market Kamilia Lahrichi October 27, 2014: Left-leaning president Dilma Rousseff won the election in recession-hit Brazil on October 26 after one of the most dramatic electoral campaigns. The country’ first female president turfed out the centrist contender Aécio Neves with about 52% of the vote against 48% for her rival...