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By Maria Lopez Conde, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL - State-controlled oil giant Petrobras is in danger of seeing its commercial transactions come to a grinding halt after the Procuradoria Geral da Fazenda Nacional (National Treasury Attorney-General's Office) got a Rio de Janeiro Federal Court to recognize the petroleum producer’s nearly R$7.3 billion debt with the National Treasury and cancel its ability to emit debits.

This effectively bars the country's biggest company from engaging in any type of transaction or bidding process.

According to the Receita Federal (National Treasury), Petrobras owes the . . .

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