Petrobras faces management change, spending cuts

摘要

Brazil’s state-controlled Petrobras will cut 2015 investment spending and could soon have a senior management shake-up as a result of its corruption scandal. Brazil’s federal comptroller CGU has concluded that Petrobras overpaid by $659mn for its acquisition of the 100,000 b/d Pasadena refinery in Texas (WPA, 21 March, p10). Former Petrobras executives, including former chief executive Sergio Gabrielli and downstream director Paulo Roberto Costa, could be personally responsible for repaying the excess, the CGU says.