Petrobras Working to Change Corporate Culture After Scandal

Brazil's state-owned oil company Petrobas is working to reduce its debt, improve operations, and restore a sense of confidence among its employees, more than three years after the firm became involved in the Operation Car Wash scandal. Speaking during a recent conference, Petrobas CEO Pedro Parente noted that some of the firm's employees have been reluctant to take risks and make decisions after the ongoing investigation exposed the company's involvement in a widespread corruption scheme among politicians and corporations in Brazil and abroad. "We are trying to convey the message that Petrobras is here to make business, to make profits," he said.