Brazilian oil company Petrobras says it lost $2.1 billion to kickback scheme since 2004

April 22, 2015 11:20 PM

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RIO DE JANEIRO – Brazil's state-run oil company Petrobras says it lost $2.1 billion because of inflated contracts and other costs related to a long-running kickback scheme.

Company executives released long-delayed audited financial results Wednesday night — including the write-down in local currency of 6.2 billion reais because of the graft scheme that Petrobras says operated from 2004 to 2012.

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