Regulator wants Petrobras to re-do financial statements

Regulator wants Petrobras to re-do financial statements

Brazil’s state oil company Petrobras has been asked by the country’s stock market regulator CVM to re-do three years of financial statements, according to Reuters.

CVM wants to see statements for 2013-2015 to account for the impact of certain currency rate hedges.

Petrobras, a major offshore energy player in Latin America, is heavily in debt and has been burdened by an ongoing bribes-for-inflated-contracts scandal that has rocked the nation.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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