Petrobras scandal seen as a chance for Brazil to confront endemic corruption
Rio De Janeiro
ON the surface it could not be much worse for Brazil. With the economy faltering, its cherished government-controlled oil company Petrobras spiralled into a US$3.8 billion corruption scandal just as it was finally ramping up production in its vast deep water reserves.
Since the unfolding corruption investigation became public in March, charges have been filed against 91 people, including executives from Petrobras and some of Brazil's biggest construction and engineering companies. And it's not over. On Friday the Estado de S. Paulo newspaper was the latest publication to name politicians it said were linked to the scheme.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard