Problems caused by fuel subsidies, project delays and soaring costs at Petrobras (PBR -2%) are...

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

Problems caused by fuel subsidies, project delays and soaring costs at Petrobras (PBR -2%) are spreading to the wider Brazilian economy, undermining PBR's suppliers and raising credit risks. To fight cost overruns, limit rising debt and make up for $8B-plus in refining losses, PBR reportedly is squeezing suppliers and investors by making them wait longer to receive payment.