Brazil’s Car Wash Corruption Probe Eyes Petrobras Bunker Fuel Deals | Investing News

By Ana Mano and Gram Slattery

SAO PAULO/RIO DE JANEIRO (Reuters) – Brazilian police on Wednesday expanded the Car Wash corruption investigation to alleged kickbacks valued at $8 million on contracts for bunker fuel bought by state-run oil company Petroleo Brasileiro SA for its fleet of tankers.

A police statement said searches were carried out in Rio de Janeiro as part of the investigation, which is targeting unnamed Petrobras officials for their role in the transactions, which were allegedly carried out between 2009 and 2018.

The head of Brazil’s “Car Wash” prosecution unit, Alessandro Oliveira, said authorities were looking into transactions in Brazil and Singapore.

The statement indicates that a long-running probe into Petrobras’ dealings with some of the world’s largest commodity trading firms – including Vitol, Glencore, and Trafigura – is expanding geographically. Until now, the probe has been largely focused on Petrobras’ Houston operations.

In a statement to

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Brazil’s Car Wash corruption probe eyes Petrobras bunker fuel deals

By Ana Mano and Gram Slattery

SAO PAULO/RIO DE JANEIRO, Oct 7 (Reuters)Brazilian police on Wednesday expanded the Car Wash corruption investigation to alleged kickbacks valued at $8 million on contracts for bunker fuel bought by state-run oil company Petroleo Brasileiro SA PETR4.SA for its fleet of tankers.

A police statement said searches were carried out in Rio de Janeiro as part of the investigation, which is targeting unnamed Petrobras officials for their role in the transactions, which were allegedly carried out between 2009 and 2018.

The head of Brazil’s “Car Wash” prosecution unit, Alessandro Oliveira, said authorities were looking into transactions in Brazil and Singapore.

The statement indicates that a long-running probe into Petrobras’ dealings with some of the world’s largest commodity trading firms – including Vitol, Glencore, and Trafigura – is expanding geographically. Until now, the probe has been largely focused on Petrobras’ Houston operations.

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Brazil’s Car Wash corruption probe eyes Petrobras bunker fuel contracts

SAO PAULO, Oct 7 (Reuters)Brazilian police on Wednesday expanded the Car Wash corruption investigation to alleged kickbacks valued at $8 million on contracts for bunker fuel bought by state-run oil company Petroleo Brasileiro SA BRDT3.SA for its fleet of tankers.

A police statement said searches were carried out in Rio de Janeiro in the investigation, which targets unnamed Petrobras officials for transactions between 2009 and 2013 based on information obtained in plea bargain deals with defendants.

The head of the Car Wash prosecutors team based in Curitiba, Alessandro Oliveira, said the new investigation has detected initial estimated losses of $8 million in graft.

He said prosecutors were looking into transactions in Brazil and the port of Singapore.

Car Wash, or Lava Jato, began in 2014 with the arrest of a currency dealer and mushroomed into Brazl’s biggest ever graft scandal mainly involving Petrobras contracts in which some 200

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Brazil’s Car Wash corruption probe eyes Petrobras bunker …

SAO PAULO, Oct 7 (Reuters) – Brazilian police on Wednesday expanded the Car Wash corruption investigation to alleged kickbacks valued at $8 million on contracts for bunker fuel bought by state-run oil company Petroleo Brasileiro SA for its fleet of tankers.

A police statement said searches were carried out in Rio de Janeiro in the investigation, which targets unnamed Petrobras officials for transactions between 2009 and 2013 based on information obtained in plea bargain deals with defendants.

The head of the Car Wash prosecutors team based in Curitiba, Alessandro Oliveira, said the new investigation has detected initial estimated losses of $8 million in graft.

He said prosecutors were looking into transactions in Brazil and the port of Singapore.

Car Wash, or Lava Jato, began in 2014 with the arrest of a currency dealer and mushroomed into Brazl’s biggest ever graft scandal mainly involving Petrobras contracts in which some 200 businessmen,

Read More

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