But problems bring opportunities. The energy industry in Brazil is on the verge of its biggest transformation in decades. Petrobras is reducing its investment and the sector is transitioning from a hydroelectric power system to, effectively, a hydrothermal one.
Top executives of the international companies had "total and unequivocal" knowledge of the graft involving Petroleo Brasileiro SA, known as Petrobras, investigators said at a news conference.
The bribes took place between andinvestigators said. The details being made public were just the "tip of the iceberg" investigators said, and the latest revelations were the strongest international links yet announced to the sweeping "Car Wash" probe centered on political corruption at Petrobras.
Petrobras employees offered the trading companies lower prices for oil and its derivatives as well as storage tanks in more than separate operations then shared in the savings, authorities said.
Those involved, emails obtained by Brazil's federal police showed, would use nicknames such as Tiger, Flipper or Mr M and discuss below-market prices for oil or tanks, while invoicing their companies at the market rate. The differences could range from 10 cents to a dollar per barrel and the term of art for the bribes was "delta.
The bribes moved through bank accounts in the United States, Britain, Sweden, Switzerland and Uruguay, among others, raising questions of whether those countries would open investigations.
Brazilian police alerted Interpol, seeking the arrest of a Petrobras employee in Houston, whom the company said it has now fired. The employee, Rodrigo Garcia Berkowitz, worked as an oil trader, and prosecutors say he used the nickname Batman.
Petrobras said it was cooperating with authorities and viewed itself as a victim of corruption. A Vitol spokesman said the firm "has a zero tolerance policy in respect of bribery and corruption and will always cooperate fully with the relevant authorities in any jurisdiction in which it operates.
Separately on Wednesday it launched a new business plan saying its goal is to "strengthen the credibility, pride and reputation of Petrobras.
The deal has not yet closed and it was unclear how Wednesday's action may affect it. It was not the first time prosecutors have zeroed in on Trafigura, a commodities trader based in Geneva.
In March, a former Trafigura executive, Mariano Marcondes Ferraz, was found guilty of bribing a Petrobras executive on behalf of his own company, Decal do Brasil. He was sentenced to more than 10 years in jail.
Ferraz was also involved in the scheme unveiled on Wednesday, prosecutors said. Swiss prosecutors also have an open investigation, announced one month after Ferraz's arrest in Brazil in The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras.
It did not identify the employee.A: The gross vehicle weight of a Ford F varies and is equal to the weight of the truck including any cargo and passengers.
The curb weight of a Ford F The curb weight of a Ford F Full Answer >. Petrobras plans to invest $ billion in increasing biodiesel and ethanol production by The amount is part of $ billion earmarked for its total biofuel business. Ethanol investment is the lion's share but $ million will go to biodiesel.
PETROS New pension plan - Petros 3 Petrobras reports that its Board of Directors approved in a meeting held today, to submit for the analysis of the 12/19/ | 17h56 The Thompson & Knight and Schmidt Valois will host a workshop under the theme: Oil and Gas in Brazil Today: ANP Bid Rounds and Petrobras Divestment Process.
With investments in the order of $ billion, the Plan prioritizes oil exploration & production (E&P) projects in Brazil, with emphasis on deep water The Business Plan foresees $ billion in investments, 81 percent of which earmarked for the Exploration and Production area.
Petróleo Brasileiro S.A. or Petrobras PBR recently announced its Business and Management Plan ("BMP") for , which shows marginally higher investments than the period. The new. Drilling Deeper Petrobras - Download as PDF File .pdf), Text File .txt) or read online. Scribd is the world's largest social reading and publishing site.
and Espírito Santo 15% Transfer of monstermanfilm.com E&P INVESTMENTS IN BRAZIL TOTAL E&P INVESTMENTS IN BRAZIL BUSINESS PLAN BUSINESS PLAN Exploration E&P investments in.