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

SUGAR LAND--April 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.