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Petrobras woes reach Europe as slowdown leaves partners hanging

The European firms cite late payments, delivery delays or other difficulties in Brazil

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TROUBLE AHEAD: The state-run oil producer is grappling to assess the magnitude of losses from a scandal in which some of its executives are accused of taking kickbacks from builders in exchange for awarding inflated construction contracts.

Madrid

WHEN Italian oil services company Saipem SpA spent US$300 million at the start of the decade in Brazil, it joined a long list of foreign companies jockeying for business with Petroleo Brasileiro SA. Now it's struggling to get paid.

Saipem is one of at least five European