Petrobras gas station in Rio de Janeiro
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Brazil oil company Petrobras's corruption costs hit $2bn

23 April 2015 Last updated at 08:03 BST

Brazil's state-run oil company, Petrobras, has released its financial results for the last year, which include $2bn (£1.3bn) written off due to corruption.

The firm has been embroiled in huge cash for contracts scandal which has had far reaching political and economic consequences.

Brazil correspondent Wyre Davies reports.