(MENAFN) Petrobras, Brazil's government-run oil firm received a huge blow by low oil prices last year, as it recorded a gross loss of USD9.6 billion for 2015, even much worse than its registered loss in 2014.
The biggest company in the Southern Hemispheres is at the epicenter of Brazil's scandalous political and economic crisis, as an investigation into an enormous bribery scandal at Petrobras continues to threaten Brazil's president.
Additionally, the scandal has played a key role in Latin America largest sovereign state's recession, the worst in 25 years, plus the investigation into Petrobras has already severely hampered the president's once impeccable legacy.
On a different note, Petrobras controls significant oil and energy assets in 18 countries in Africa, North America, South America, Europe, and Asia, and last year, the firm produced 2.284 million barrels of oil per day.
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