Petrobras debt financing plans in doubt

Sao Paulo

THE widening corruption probe at Petroleo Brasileiro SA is threatening to impair its ability to finance the world's biggest oil investment plan.

The state-controlled producer, which delayed releasing third-quarter earnings because of an investigation into alleged bribery involving contracts, has said on Nov 13 that it plans to publish unaudited statements within a month. Bank of America Corp said that Petrobras may have difficulties borrowing in international debt markets until it provides results that have been audited.