It's look like the problems that Petrobras had here in Brazil, the diference was that Petrobras had problems with corruption in all levels and the government draining their profits.
It has been passed more than 3 years and the problem wasn't solved completely solved but maybe in just more 2 years everything will be solved.
Thanks for sharing @zer0hedge
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Corruption is the same no matter who the players are or the country it in.
In the end, the taxpayers are on the hook for it while it taking years to unwind. Of course, often new politicians come in and compound the problem by making deals which worsens the situation.
@taskmaster4450, Brazil is under a pool of corruption.
Just for you have a number of what I am saying, an investigation process here that we call "carwash" indicted more than two hundred people involved in politics.
One difference is I think that the UK government won't honour the contracts that Carillion has with its employees/subcontractors. I say this because Carillion was a private company that made agreements without guareetes from the state This should allow the state to be able to pick who to rescue and who to drop.
Am I right in thinking 100% Petrobras is State controlled?