Brazil's Petrobras reports $10.2 billion quarterly loss

RIO DE JANEIRO (AP) — Brazil's state-run oil company, Petrobras, reported a record quarterly loss of $10.2 billion Monday due to a large reduction in the value of some assets amid lower oil prices.

Petrobras has been at the center of a sprawling corruption scandal that has ensnared some of Brazil's most powerful lawmakers and business executives.

Brazil also is mired in its worst recession in decades, and it is ground zero for the Zika virus outbreak that has spread across the Americas as Rio de Janeiro prepares to host the Olympics in August.