Rio de Janeiro – Petrobras’ president, Ivan Monteiro (picture above), said that the state-owned company has again reached BRL 300 billion (USD 77.94 billion) in market value, after its shares rose 6.29% in the BM&F Bovespa this Thursday (27). “When we arrived, the value [of Petrobras] was BRL 60 billion (USD 15.59 billion),” he said.
Monteiro attributed the rise in the company’s shares to a deal reached by the company with US authorities to end the country’s probe on the losses caused to investors by the graft and embezzlement scheme in the company discovered by Operation Lava Jato (Car Wash).
The state-owned company was accused of violating North American laws by manipulating accounting records and financial reports that resulted in kick-backs to directors, politicians and political parties in Brazil.
Monteiro made the statements during the ending of the Rio Oil & Gas 2018 at RioCentro. According to Monteiro, the deal signed in the US acknowledges the actions of the compliance program, internal controls and procedures against corruption adopted by Petrobras after the corruption scandal.
Translated by Sérgio Kakitani
