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Steeped in Crises, Petrobras CEO Looks to Chart New Path
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Petrobras CEO, Aldemir Bendine, faces the difficult tasks of regaining investor confidence, establishing better governance, and carrying out a divestment program to cut the debt load of $133.9 billion. He is a bank executive from Banco do Brasil appointed in February 2015 following the corruption scandal at Petrobras. The new board at Petrobras following the corruption scandal is now free of political appointees, and includes academics, business leaders and technical experts. Bendine says, today there is not the same atmosphere as in the past with political appointees, and he sees no chance for government interference.
New Petrobras CEO Aldemir Bendine in 2015 and the task of reducing a debt load of $133.9 billion
08/19/2015
Grouped Articles
Steeped in Crises, Petrobras CEO Looks to Chart New Path
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Huge state projects launched during the days of ample funding are now stalled by cost escalation and the decline in Petrobras's credit ratings.
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Steeped in Crises, Petrobras CEO Looks to Chart New Path
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Petrobras share price and financial performance
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Petrobras Investors Feel the Give and Take of Government
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Petrobras Pays Price for Being Brazil's Champ
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Despite Obstacles, Petrobras Shares Are on Rise
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Grouped Articles
Petrobras Bonds, After Slump, Find Takers
Wall Street Journal 03/26/2015
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Steeped in Crises, Petrobras CEO Looks to Chart New Path
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Petrobras and the $17 billion writeoff for overvalued assets and bribe payments in 2015
04/23/2015
About $2.1 billion of this was writeoff for bribe payments. The corruption investigation is showing the weak links between the government and Petrobras, and affecting public confidence in the government.
Grouped Articles
Brazil’s Petrobras Reports Nearly $17 Billion in Asset and Corruption Charges
Wall Street Journal 04/23/2015
Brazil Arrests the Heads of Construction Giants in Graft Probe
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With Arrest of Marcelo Odebrecht, Brazil’s Corruption Probe Moves to the Penthouse
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Brazil Arrests Head of Odebrecht in Petrobras Scandal
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Brazil’s Petrobras Slashes Five-Year Investment Budget
Wall Street Journal 06/30/2015
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Wall Street Journal 08/19/2015
Petrobras investment spending cuts of 37% for 2015-2020 to gain investor confidence
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Grouped Articles
Brazil’s Petrobras Slashes Five-Year Investment Budget
Wall Street Journal 06/30/2015
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Petrobras CEO’s Challenges Aren’t Going Away
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Petrobras Investors Feel the Give and Take of Government
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Petrobras Pays Price for Being Brazil's Champ
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Fracking Leaves Brazilian Oil Lacking
Wall Street Journal 10/22/2013
Petrobras Sets Ambitious Capital Budget
Wall Street Journal 06/22/2010
Can Petrobras Get $50 Billion?
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Petrobras Seeks $65 Billion From Share Sale
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Petrobras management
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Grouped Articles
Petrobras Investors Feel the Give and Take of Government
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Brazil’s Star, Petrobras, Is Hobbled by Scandal and Stagnation
New York Times 04/15/2014
Brazil's President, Petrobras CEO Defend No-Bid Oil Production Rights Deal
Wall Street Journal 07/02/2014
Despite Obstacles, Petrobras Shares Are on Rise
Wall Street Journal 07/24/2014
Petrobras Scandal Widens, Earnings Delayed
Wall Street Journal 11/15/2014
Overheard: The Fall of a National Champion
Wall Street Journal 11/15/2014
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