Petrobras Agrees to Pay $3.5 Billion in Back Taxes to Support Brazilian Budget

Brazilian oil giant Petrobras has agreed to settle $3.5 billion (R$19.8 billion) in outstanding taxes with the federal government. This financial move comes as President Luiz Inácio Lula da Silva is pursuing additional revenue streams to balance the nation’s budget. On Monday, the board of directors of the state-controlled drilling company endorsed the decision. This […]