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Weekly Report - 18 December 2014 (WR-14-50)

BRAZIL: Petrobras: no end in sight

A total of 36 of the 39 executives being investigated over the corruption scandal at the state-dominated oil company Petrobras have now been charged with criminal offences. Petrobras shares have lost over 85% of their value since 2009. Two US law firms have filed lawsuits in a Manhattan court room over allegations the company misled investors. With oil prices slumping, the costly investment phase necessary for Petrobras to exploit its massive pre-salt oil fields is coming under scrutiny.

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