- Brazil President Rousseff's backing of a 2006 Petrobras (PBR +0.7%) purchase of a Texas oil refinery that has turned into a major headache for the company was based on a flawed internal report, according a statement from the president's communications office.
- The purchase has become a scandal in Brazil, as PBR spent nearly $1.2B to buy the refinery that had changed hands only a year earlier for ~$60M; Brazil's Federal Police opened an investigation into the matter last week.
- The statement was published in response to an article in a local newspaper that claimed Rousseff had backed the controversial refinery purchase when she was chairwoman of PBR's board of directors.
From other sites
Video at CNBC.com (Mar 16, 2015)
at CNBC.com (Mar 16, 2015)
Video at CNBC.com (Feb 25, 2015)
at CNBC.com (Feb 4, 2015)
at CNBC.com (Jan 14, 2015)
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