Oil and gas: Scandal involving Texas oil refinery hits Petrobras

STAN LEHMAN, Associated Press

The directors of Brazil's state-run oil company Petrobras are gathering for a special board meeting amid a scandal over the company's 2006 purchase of Texas oil refinery that threatens to involve President Dilma Rousseff. SAO PAULO (AP) — The directors of Brazil's state-run oil company Petrobras are gathering for a special board meeting amid a scandal over the company's 2006 purchase of Texas oil refinery that threatens to involve President Dilma Rousseff.

A Petrobras official confirmed Friday's special meeting, but declined to be identified because she was not authorized to speak to the press.

Petrobras spent $1.2 billion to acquire the refinery in Pasadena, Texas, starting in 2006. A year earlier, Belgium's Astra Oil had paid $42.5 million for it.

Rousseff was the chairwoman of the Petrobras board of directors at the time and the O Estado de S. Paulo newspaper reported this week that she authorized the purchase.

Rousseff's office said her decision was based on a "flawed document."

 


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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