Brazilian Prosecutor Links Trading Giants to Petrobras Corruption Scandal

brazilIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Office of Brazil’s Attorney General said on Wednesday that commodity trading giants like Trafigura, Vitol and Glencore are suspected of paying millions of dollars in bribes to Petrobras employees in return for cheaper prices of oil and derivatives.

The investigation into the suspected activities is part of the 57th phase of the Car Wash (Lava Jato) operation, which uncovered one of the biggest corruption cases in the recent history of Brazil involving its state oil company Petrobras.

The prosecutors allege that at least USD 31 million was paid in bribes to Petrobras employees between 2009 and 2014 by trading companies in return for deal rigging.

The three companies are suspected of paying USD 15.3 million in the suspected collusion, led by Petrobras offices in Houston, Texas, USA and Rio de Jeneiro. Names of other suspects were not disclosed, however, the Attorney General’s office said they were engaged in trading of fuel oil inteded for power plants, bunker fuel, asphalt and vacuum gas oil.

World Maritime News Staff

 

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