Petrobras Bankers Have $30 Billion on the Line
The headquarters of Petroleo Brasileiro in Rio de Janeiro
.Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Aldemir Bendine never worked in the oil industry, but he already knew plenty about Petroleo Brasileiro SA before becoming its chief executive officer last month.
That’s because he occupied the same post for years at Banco do Brasil SA. The firm is one of the state-controlled banks that Moody’s Investors Service estimates lent a combined $30 billion to Petrobras, which is at the center of what may be Brazil’s widest-ranging corruption investigation.