Against All Odds: The Return Of An Oil Giant

2 Aug 2017   Brazil

Only a year ago, the Brazilian state company Petrobras seemed a complete basket case, an exemplary case of how not to lead a company that is rich in both resources and know-how. Today, however, the Brazilian state giant has demonstrated unhoped-for prowess in its quest of ridding itself of the disagreeable label of being the most indebted oil & gas company in the world. Brazil is still susceptible to sporadic political earthquakes, emerging from revelations of which the Operation Car Wash has still not exhausted itself – like the sudden death of Supreme Court Justice Teori Zavascki in a plane crash this January – and it will take Petrobras, having played a major role in previously existing kickback schemes, write-downs and money laundering, a good deal of time to clean itself of the acquired bad optics. Still, Petrobras, it seems, has bent to task. The new management of Petrobras […]

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