PETROBRAS CASE
Mesut Yetis, 31.03.208, mesutyetish@yahoo.com
Case setting and synopsis
Petrobras is one of the biggest oil and energy company of Brazil with 48% shares hold by the state of Brazil. More than 90% of the production of Petrobras is done in Brazil. Company head-quarters are based in Rio De Jenario, Brazil and has annual revenue of 88 billion USD. With this revenue Pertobras is ranked in the 58th place in Fortune 500 list.
The business areas of Petrobras are listed below in order according to the their contribution to the annual revenue of the company.
• Refine, logistics and marketing of oil and oil products; from crude oil form to various petrochemicals.
• Domestic oil and natural gas exploration, drilling and production in Brazil.
• Distribution of all the products through a very large retail network.
• Production of electricity with gas generated power plants
• International oil and natural gas exploration and all related operations outside of Brazil.
• Biofuels (Wikipedia, https://en.wikipedia.org/wiki/Petrobras, 2018)
Petrobras, a giant oil conglomerate with approximately 80,000 employees was at the centre of the biggest scorruption scandal of Brazil which broke out in 2014.
According to Petrobras in 2015 the cost of the corruption scandal to company was estimated as more than 2 billion USD. (BBC, 2017)
Petrobras scandal, Brazilian political corruption scandal beginning in 2014 that involved the indictment of dozens of high-level
How did John D. Rockefeller become the wealthiest man in American history? A simple question student may ask themselves, but a simple answer. Primarily, John D. Rockefeller was an American oil industry magnate, born July 8th, 1839, in Richford, New York. Rockefeller built his first oil refinery near Cleveland and established an oil company named Standard Oil in 1870, an oil-based company with top oil refineries in America. By 1882, Rockefeller earned a monopoly of the oil business in the U.S. Rockefeller is considered the wealthiest person in modern American history.
" This situation, which became known as the Teapot Dome Scandal, shows the process of corruption. Albert Fall was given money from oil companies, and in exchange,
What is the Watergate Scandal?
Did you know that the Watergate phenomenon is one of the most climatic and talked about scandal in American History? Scandals term of analogy is a action or event of illegal wrong doing at a particular moment. This incident occurred during the 1972 presidential election with the two time running Republican Richard Nixon and Senator George McGovern.
Dilma Rousseff is the 36th President of Brazil and also the first women President of the country Brazil. She is nicknamed as the "Iron Lady" due to her approach as she has sacked various ministers over corruption allegations. She has been kept a good record in investigating for corruption charges and claims. However the economy of Brazil happens to remain sluggish and the poverty still prevails, even the GDP of the country could shrink in the second consecutive year. Ms Rousseff still happens to be not in good control with the policy making.
Second, Brazil transforms the everyday by discussing familiar systems and topics but radically changing the way they function in this society. These two ideas contribute to Brazil as a
These horrific events of corruption occurred during 2003 and 2004. Two judges received 2.6 million in bribes to oppose harsh sentences to young individuals being accused of crimes (Anderson, 2009). This demonstrates how both society and individuals are affected due to this unsuitable interest of
The media harassment against her and former President Lula during the campaign was relentless October, and was the case of tipping the balance in favor of his rival, Aécino Neves (PSDB) nearby. It is considered certain that the long wake of 'Petrolao' and prosecution of the accused unfailingly ballasted all or part of the second term of Rousseff. Four companies (UTC, Mendes Junior, Engevix and Galvao Engenharia) have already blamed his writings defense in the government and the president decrear own and use that alleged 'club' from Petrobras for the purchase of political
12, 2002: A criminal indictment accusing Kozlowski and Swartz of “enterprise corruption for allegedly stealing more than $170 million from Tyco and obtaining $430 million by fraud in the sale of company shares.” Mark Belnick is charged separately with falsifying records to conceal more than $14 million in company loans.
Dec. 17, 2002: Board member Frank Walsh pleads guilty in an alleged scheme to hide the $20 million in fees for the CIT Group deal.
Oct. 7, 2003:
Until recently, Argentina had not begun to export, and as such its domestic industry accounts for 29 percent of GDP. As a result of the Brazilian economic problems, industrial production growth impacted Argentina, and was reduced by 7 percent in 1999, and a year later increased by a 2 per cent growth. Among the main industries in Argentina is the manufacturing of cars, mining, processing of foods, energy production, with emphasis on its growing chemical
According to www.heritage.org/Brazil Brazil is known as the 118th freest, Brazil has declined in their economic freedoms since last year which caused them to be below the world average. Lately Brazil has actually advanced and improved in their financial freedom and their freedom from corruption. According to www.brazil.org Poverty is a big issue in Brazil. The richest people are able to access more than 40 % of Brazil’s income while the poorest people are able to receive only 1% or less of the income. This has a major effect on people who have no type of financial support or very little.
Europe was one of the firsts to notice the change that had set these economies isolating themselves from the developing world (trade.ec.europa.eu).
However, economists have referred Brazil as a “commodity country”, which is vulnerable to the effects of a natural resource course. Now, Brazil is trying to build competitive advantage in high-value added manufacturing, tourism and other service industries. Brazil’s future progress is confined due to a number of weaknesses, such as high taxes, a tendency towards import protectionism, weak infrastructure, corruption, crime and dominant monopolies.
1.1 Overview of Brazil
Brazil is one of the largest countries of South America and Latin American region. The country got freedom and became an independent nation in 1822 from the rule of Portugal.
Exploiting vast natural resources and a large labour pool, Brazil became Latin America's leading economic power by the 1970s. Being one of the largest and most populous countries in South America, the country has overcome more than half a century of military intervention in the governance of the country to pursue industrial and agricultural growth and development of the interior geographic of the country.
Brazil is the world's fifth-largest country, not only by geographical area and but also by population.
