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

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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.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

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