Petrobras Narrows 2017 Loss, Net Debt Falls Below $85bn

Brazil`s state-owned oil company Petrobras has reported a net loss of R$446m ($136m) for last year compared with a loss of R$14.8bn a year earlier, with the result weighed down by a large shareholder corruption settlement. The company said  that it would have reported a net profit of R$7.01bn without the extraordinary R$11.2bn expense created by the shareholder lawsuit as well as a R$10.4bn programme to regularise outstanding debts to the Brazilian federal government.
 

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Brazil and corruption--go together like twins.

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The company with CEO as a Aldemir Bendini deserves all that is happening to them. Corruption, bribe, criminal - was a Petrobras image during last decade.  A. Bendine got 11 years prison sentence for taking US$1 million in bribes from the Brazilian construction giant Odebrecht ! A reminder. The Petrobras and Odebrecht scandals have embroiled business elites and politicians across Latin America, culminating in hundreds of arrests, and billions of dollars in bribes paid.

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It's hard to find at least one country with that level of corruption as Brazil. Politicians, bankers, football players, company managers... 

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Why do Brazilians always tend to minimize the internal problems with corruption in the country? Corruption spreads in all society levels. None of the 10 largest economies in the world, are based on so much corruption as Brazilian society. I believe the amount of money paid for bribes in the Petrobras scandal  is not even 50% revealed.

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If you respect your money don't invest it in Brasil

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There is no excuse for corruption... Petrobras  has lost credibility

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