All Petrobras articles

  • Oilfield

    DOJ commodities trader FCPA sweep offers lessons in cooperation


    The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.

  • Trafigura
    News Brief

    Trafigura pleads guilty, to pay $127M over FCPA violations in Brazil


    Singapore-based commodity trading company Trafigura agreed to pay nearly $127 million as part of a resolution with the Department of Justice addressing violations of the Foreign Corrupt Practices Act in Brazil.

  • Brazil oil
    News Brief

    Freepoint Commodities to pay $99M in Brazil bribery FCPA case


    Freepoint Commodities agreed to pay nearly $99 million to settle allegations by the Department of Justice that it paid bribes to Brazilian government officials in return for business from state-owned oil company Petrobras.

  • Tenaris

    Tenaris to pay $78M to settle FCPA charges over bribes in Brazil


    Tenaris, a global manufacturer of steel pipe products, agreed to pay more than $78 million to the SEC to settle charges it violated the Foreign Corrupt Practices Act by paying more than $10 million in bribes to a Brazilian government official.

  • Honeywell

    Honeywell records charge of $160M in FCPA probe


    Honeywell International has recorded a charge of $160 million in accrued liability concerning an investigation by U.S. and Brazilian authorities as to whether the company’s use of third parties in Brazil violated the FCPA.

  • Braskem

    Ex-Braskem CEO gets 20 months in prison over bribery scheme


    Jose Carlos Grubisich was sentenced to 20 months in prison for his role in a scheme to divert hundreds of millions of dollars in bribe payments from Braskem to government officials and political parties in Brazil.

  • Petrobras

    Petrobras fulfills obligations of 3-year FCPA agreement


    Brazilian state-owned energy company Petrobras announced it has met the obligations of a three-year agreement reached with the Department of Justice for playing a role in one of the world’s largest political corruption investigations.

  • John Wood Group

    Compliance lessons from Wood Group’s $177M global bribery settlement


    John Wood Group reached a $177 million settlement with authorities in the United States, the United Kingdom, and Brazil, concluding legacy bribery and corruption investigations into Amec Foster Wheeler companies.

  • Braskem

    Ex-Braskem CEO pleads guilty for role in bribery scheme


    The former CEO of Brazilian petrochemical giant Braskem pleaded guilty for his role in a scheme to divert hundreds of millions of dollars in bribe payments from the company to government officials and political parties in Brazil.

  • Construction site

    Samsung Heavy Industries settles Brazil bribery probe for $150M


    Samsung Heavy Industries will pay 812 million reais (U.S. $149.9 million) in a leniency deal with Brazilian enforcement authorities for acts of corruption and money laundering related to “Operation Car Wash.”

  • Oil barrels

    Energy trader Vitol to pay $164M in FCPA case


    The U.S. affiliate of global energy and commodity trading company Vitol will pay approximately $164 million to settle charges of bribery, corruption, and manipulative and deceptive conduct levied by multiple regulators, including historic involvement by the CFTC.

  • Petrobras

    Petrobras receives $112.3M from leniency agreements, other deals


    Petrobras said it has received 425 million reais (U.S. $112.3 million) from leniency agreements and repatriations carried out by Brazil’s Federal Prosecutor’s Office.

  • petrobras

    Honeywell discloses Petrobras-related FCPA probe


    Honeywell International announced in a regulatory filing that it is being investigated by U.S. and Brazilian authorities as to whether the company’s use of third parties in Brazil violated the Foreign Corrupt Practices Act.

  • Braskem

    Braskem board approves $101M leniency agreement


    Braskem has approved a 410 million reais (U.S. $101 million) leniency agreement with authorities for concealing its role in a bribery scheme involving Petrobras.

  • Columnist_Fox

    South America cleans up its act


    A look at key investigations and enforcement actions in South America and Mexico in the past four years signifies a changing legal landscape that offers compliance lessons in advancing third-party anti-corruption compliance.

  • Columnist_Fox

    When the customer’s not right


    The Petrobras, Stryker, and Polycom enforcement actions serve as a lesson to compliance officers on how to guard against customer bribery schemes.

  • Blog

    Vantage Drilling pays $5M, closes FCPA case with SEC


    Offshore drilling contractor Vantage Drilling International has concluded a settlement agreement with the Securities and Exchange Commission, in which it has agreed to pay $5 million to resolve a previously disclosed investigation into potential violations of the internal accounting control provisions of the U.S. Foreign Corrupt Practices Act.  

  • petrobras

    Petrobras case sheds light on how to avoid a corporate monitor


    Any company under a criminal investigation by the U.S. government looking to avoid the appointment of a compliance monitor will want to take a page from Brazilian state-owned energy company Petrobras. Gibson Dunn partner Joe Warin, who represented Petrobras, offers some tips inside.

  • Blog

    FINMA finds deficiencies in AML processes at Credit Suisse


    The Swiss Financial Market Supervisory Authority FINMA has concluded two enforcement procedures against Credit Suisse. In the first procedure, FINMA identified deficiencies in the bank’s adherence to anti-money laundering due diligence obligations. The second procedure relates to a significant business relationship for the bank with a politically exposed person.

  • Blog

    Ensco: U.S. authorities will not be bringing enforcement actions


    U.K.-based offshore drilling contractor Ensco announced this week that the U.S. Department of Justice and Securities and Exchange Commission do not intend to bring enforcement actions in connection with a previously disclosed investigation into alleged irregularities related to a drilling services contract.