Petrobras - Weak earnings (or corruption scandal?)

Weak earnings in oil business

I am amazed.

As it says in this article – Weak earnings in Petrobras.

An oil producing company that has problem making money. OK…. This must be the first in the world. I am not only seeing a “lower than expected” earnings but the company having problems making money. There is a sentence I didn’t see coming.

I guess one cause is that it is state owned. Already there it flags too much administration and ineffectiveness. They are even being favorized by the government and still can’t make it.
This must be the perfect opportunity for consultants to make a turnaround, if the government dare to open the books. I don’t think so.
Too many people there gets too much money – and there you have the result.