Petrobras lost $2 bn to graft; deficit totaled $7 bn in 2014
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Petrobras's board announced late on Wednesday that the company lost over $2 billion to graft as investigated by Federal Police under Operation Car Wash. The net profit in 2014 was close to a $7.2 billion deficit.
As he presented the audited balance sheet for 2014, which was submitted to the Brazilian Securities Commission (CVM), Mario Jorge da Silva, Petrobras's Business Performance Executive Manager, said the assets were adjusted by $16.8 billion reflecting a $2 bn write-down arising from improper payments combined with an impairment charge of $14.775 billion.
Using a methodology based on the contents of the investigations of the Public Prosecutor's Office, the graft figures represent 3% of the value of contracts with 27 companies that colluded to win contracts between 2004 and 2012. The embezzled funds amounted to $1.1 billion in the Downstream division, $662.5 million in Exploration and Production, and $231.9 million in Gas and Energy.
Translated by Mayra Borges
Fonte: Petrobras lost $2 bn to graft; deficit totaled $7 bn in 2014
