You are here

Petrobras posts biggest-ever loss

New CEO guarantees a return to normality after graft scandal, downgrades

Rio de Janeiro

BRAZILIAN state-run oil company Petrobras reported its biggest-ever loss on Wednesday, the result of a 50.8-billion-real (S$22.7 billion) write-down in the wake of a massive corruption scandal.

The 2014 full-year net loss of 21.6 billion reais, which exceeds the...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to