SOURCE: Industrial Info Resources

Industrial Info Resources

April 19, 2016 06:10 ET

Brazil's Petrobras Turns to Write-Downs, Cost Cuts as Scandal, Prices Threaten $43 Billion in Projects, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Apr 19, 2016) - -- Researched by Industrial Info Resources (Sugar Land, Texas) -- The news just keeps getting worse for Petróleo Brasileiro S.A. (NYSE:PBR) (Rio de Janeiro), better known as Petrobras, Brazil's state-owned oil company that is at the heart of a rapidly growing political scandal. Earlier this week, lawmakers in the Brazilian Congress' lower house voted to impeach President Dilma Rousseff, whose administration has all but ground to a halt amid an unending stream of pay-to-play allegations related to the oil giant.

Within this article: Details on the rocky state of Petrobras, including a spate of recent and scheduled drilling projects.

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