Petroleo Brasileiro SA, Brazil’s state-run oil company, said it will unveil its much-delayed third quarter financial information in January, amid bondholders pursuing their efforts to declare the company in default as early as this week. A group of investors led by New York-based Aurelius Capital refused to accept a debt restructuring with Argentina, taking the country to court.
Alleged corruption at Petrobras
According to a probe into corruption at the state-owned oil company dubbed Operation Car Wash, the non-political prosecutors maintain that the oil company had roughly $1.7 billion stolen from them as a group of construction firms colluded to drive up the price of contracts that were meant to be competitive. The...
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