Why Did Norway’s Sovereign Fund Put Petrobras on Watch?

Brazil’s state-controlled oil company Petroleo Brasileiro SA (Petrobras) is navigating a tough year, fighting off a sprawling corruption investigation, while battling low oil prices. The oil giant also bears an onerous debt load. The company’s CEO Aldemir Bendine is looking to reduce managers in non-operational units by 30%. The corruption scandal has taken a toll on the company. A Brazilian judge blocked a 1.93 billion BRL deal to sell a 49% stake in its natural gas distribution unit Gaspetro to Mitsui & Co Ltd. Petrobras plans to defend the deal.

The Watch List

To compound issues, the world’s largest sovereign wealth fund put the state-oil company on its watchlist. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute
institutional investor investment mandates