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Latin American Economy & Business - April 2015 (ISSN 1741-7430)
Saving the Petrossauro
At last, after months of delay, Petrobras has published its accounts. The state-owned Brazilian oil company, sometimes described as a Petrossauro, a prehistoric and cumbersome giant from the past, has taken a series of punishing blows to its balance sheet because of the impact of a corruption scandal and the fall in international oil prices. Revealing the depth of the damage may be a first step to beginning a recovery.
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