Petrobras News

Brazil-based Odebrecht, one of the region`s biggest construction companies, was at the heart of a scheme to bribe Brazilian state oil giant Petrobras in exchange for inflated contracts. 

Brazilian courts are investigating an allegation that President Michel Temer received a campaign donation from a company implicated in a corruption racket at state oil firm Petrobras, his rivals said.

Brazil`s former president Luiz Inacio Lula da Silva will stand trial on corruption and money laundering charges over an alleged scheme at the state oil company, Petrobras.

Public Prosecutor Deltan Dallagnol told a news conference that Lula will be charged with corruption and money laundering for leading a kickback scheme. 

Rousseff is likely to seek reparations in the court for defamatory accusations made against her.

Planning Minister Romero Juca said in a hurried appearance before television cameras that he would step aside from Tuesday. 

A senator accused of involvement in Brazil`s biggest corruption scandal said President Dilma Rousseff and her predecessor Lula were both aware of it and tried to block prosecutors from investigating, Veja magazine said on Saturday.

A Brazilian Supreme Court judge blocked ex-president Luiz Inacio Lula da Silva from becoming presidential chief of staff and sent the corruption case against him back to criminal court.

Former Brazilian President Luiz Inacio Lula da Silva was sworn in as chief of staff to his successor Dilma Rousseff on Thursday as a judge sought to block his appointment and Congress began proceedings to impeach her in a deepening political crisis.

Cabinet ministers can only be tried before the Supreme Court in Brazil.

Brazil`s ex-president Luiz Inacio Lula da Silva is about to join the government of his embattled protege Dilma Rousseff, administration sources said Tuesday, as both seek to save their political lives.

 Brazilian builder Andrade Gutierrez will confess to paying bribes for 2014 FIFA World Cup contracts and business with state-run companies Petrobras and Eletrobras, a newspaper report said on Friday.

Brazilian police today raided the offices of a company belonging to a son of former president Luiz Inacio Lula da Silva as part of an investigation into tax fraud.

Brazil's top court issued its ruling late Friday, after being petitioned last month by police to interrogate Lula, who governed the country from 2003 to 2010.

Petrobras, as the company is known, wants to sell $15.1 billion of assets by the end of 2016 to help reduce its $132 billion of debt, the largest of any oil company.

The company attributed the sharp drop in net income -- a figure that was far lower than analysts had expected -- to an increase in tax expenses.

Brazil`s state-run oil giant Petrobras, rocked by a massive graft scandal, said Thursday that second-quarter net income fell nearly 90 percent from a year ago, in part due to plummeting crude prices.

Brazilian police began another phase in the investigation of massive corruption at state oil company Petrobras, arresting the heads of two of the country`s most important companies.

Brazil`s state-owned oil giant Petrobras on Thursday nominated Murilo Ferreira, CEO of mining firm Vale, as its next board chair as the energy firm looks to emerge from a corruption scandal.

Brazilian state-run oil company Petrobras reported its biggest-ever loss on Wednesday, the result of a 50.8-billion-real ($16.8 billion) write-down in the wake of a massive corruption scandal.