How’s PBR compared to Pemex, corruption- and incompetence-wise? On its face, you’d think less, given the PBR is doing much more complicated projects. The problem, of course, is that the current Brazilian government seems to have no respect for property rights.
If Mexico is your standard for comparison, sure Brazil is better but...
Minister: No Need For Petrobras Investment Cut Due To Corruption Probe
http://www.rigzone.com/news/oil_gas/a/136876/Minister_No_Need_For_Petrobras_Investment_Cut_Due_To_Corruption_Probe
INSIGHT: Failure to Stop Petrobras Scandal Could Haunt Brazil’s Rousseff
http://www.rigzone.com/news/oil_gas/a/136588/INSIGHT_Failure_to_Stop_Petrobras_Scandal_Could_Haunt_Brazils_Rousseff
Petrobras Management Quits, Race On To Find Replacements
http://www.rigzone.com/news/oil_gas/a/137073/Petrobras_Management_Quits_Race_On_To_Find_Replacements