Related Articles
Company profile
Forward article link
Share PDF with colleagues

Trying to right the Petrobras ship

Brazil's oil major is on the course of recovery, but has a long way to go

The one-two punch of the multi-billion dollar Lavo Jato (Carwash) corruption scandal followed by a collapse in the oil price was punishing for Petrobras, leaving the company's reputation and balance sheet in tatters. The task of putting it all back together and delivering its promise of world-beating production growth has fallen to new chief executive Pedro Parente. It's a monumental ask, but the company might have put the worst behind it. Start with the upstream business, where the company's fortunes ultimately lie. After years of disappointingly stalled output, Petrobras is at last starting to reap the gains from years of heavy investment in its pre-salt oilfields. Three new floating, pro

Also in this section
Rosneft: scaling the heights of power
19 April 2017
High-wire deal-making has become the hallmark of Russia's national oil champion. But are expansion plans risking too much?
Tatneft edges towards the precipice
5 April 2017
The company's finances are under severe strain, as its resources are drained off to prop up an ailing local economy
China's oil loans run into trouble
5 April 2017
China extended much credit to secure oil supplies. Now it needs borrowers to start repaying