Petrobras’s image takes hit

Published Dec 15, 2014

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SCANDAL-plagued Brazilian state oil giant Petrobras was in fresh disarray at the weekend after it again failed to release financial results for the third quarter. It is the second time in a month that Petrobras delayed releasing the figures because of investigations involving the company over allegations of massive corruption. Petrobras said on Friday that a January 31 deadline had been set to publish the third-quarter results. Market analysts said the failure to again release its financial results was a further blow to the company’s already battered image. Brazilian prosecutors charged 35 businessmen in connection with the wide-ranging corruption case on Thursday. The 35 are accused of being complicit in a scheme which saw politicians get millions of dollars in sweeteners from contracts involving Petrobras. – Sapa-AFP

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