All Petrobras articles – Page 2

  • Blog

    SBM Offshore signs leniency agreement with Brazilian authorities, Petrobras

    2018-07-30T14:30:00Z

    Dutch oil and gas services company SBM Offshore said it has reached a leniency agreement with Brazilian authorities to resolve allegations relating to the Petrobras bribery scandal.

  • Blog

    A fine mess in Brazil (and Houston)

    2018-07-25T08:30:00Z

    A legal battle between Vantage Drilling and Petrobras, Brazil’s state-owned oil company, has put a new twist on contract challenges and FCPA violations

  • Blog

    Vantage Drilling reaches ‘agreement in principle’ with SEC in FCPA case

    2018-05-09T10:15:00Z

    Offshore drilling contractor Vantage Drilling Co. has “reached an agreement in principle” with the Securities and Exchange Commission regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.

  • Blog

    The effects of corruption at home

    2018-02-11T09:45:00Z

    Petrobras (of Operation Car Wash fame) will soon consider offers to sell a refinery located in Pasadena, bringing the effects of the FCPA home to the United States.

  • Blog

    The stunning Petrobras securities lawsuit settlement

    2018-01-04T13:00:00Z

    In a stunning capitulation, Petrobras settled with U.S. investors for nearly $3bn in a class-action lawsuit as follow-on litigation to the long-standing corruption allegations against the company.

  • Blog

    Two ex-SBM executives plead guilty in Petrobras bribery scheme

    2017-11-14T09:15:00Z

    Two former executives at Dutch oil and gas services company SBM Offshore have pleaded guilty to conspiracy to violate the Foreign Corrupt Practices Act for their roles in a scheme to bribe foreign government officials in Brazil, Angola, and Equatorial Guinea.

  • Blog

    Braskem settles bribery class action for $10 million

    2017-09-15T14:15:00Z

    Brazil-based petrochemical giant Braskem has reached a $10 million proposed settlement with U.S. investors for concealing its role in a bribery scheme involving state-owned oil company Petrobras.

  • Blog

    JBS reaches $3.2B leniency deal; makes governance changes

    2017-06-01T15:45:00Z

    J&F Investimentos, the holding company of meat-packing company JBS, has agreed to pay a record 10.3 billion reais (US$3.2bn; £2.4bn) fine for its role in a widespread corruption scandal, deepening Brazil's anti-corruption enforcement crackdown.

  • Blog

    The case for robust FCPA enforcement

    2017-05-28T14:00:00Z

    Two recent corruption scandals emanating from Brazil highlight the direct impact corruption can have on U.S. citizens and serve as telltale examples of why a robust FCPA enforcement regime is in the interest of the United States.

  • Blog

    The intersection of corruption and the environment

    2017-05-14T14:45:00Z

    Petrobras is attempting to sell a petrochemical plant that is “notorious for its multiple accidents, fires, and emissions releases,” according to reports. At issue? No environmentally responsible company would be interested in the doomed facility.

  • Blog

    The meat of the latest Brazilian bribery scandal

    2017-04-04T09:00:00Z

    Brazil has a new corruption scandal on its hands, this one dubbed “Operation Weak Flesh.”

  • Blog

    A South American response to corruption

    2017-02-21T06:45:00Z

    In a very interesting development from the Odebrecht corruption scandal, federal prosecutors in Brazil and ten other countries recently announced they had agreed to cooperate in ongoing investigations surrounding the company, writes The Man From FCPA Tom Fox.

  • Blog

    Next in line for regulatory troubles, Fiat?

    2017-01-16T09:15:00Z

    Fiat, which was recently flagged by the EPA for pollution violations, could be a reminder to companies to scour the news for details on any regulatory investigations of their peers and perhaps to begin scrutinizing their own books and records, says The Man From FCPA Tom Fox.

  • Article

    Petrobras probe showcases global enforcement efforts

    2016-12-20T11:45:00Z

    Brazil’s massive anti-corruption efforts are having a global impact, but self-serving politicians threaten to grind the entire thing to a halt. Jaclyn Jaeger reports.

  • Blog

    Braskem to pay $957M settlement in Petrobras corruption probe

    2016-12-15T09:15:00Z

    Brazil-based petrochemical giant Braskem disclosed yesterday that it will pay a total amount of approximately US$957 million in penalties and damages to resolve a global settlement related to the massive corruption probe surrounding state-owned oil company Petrobras. Jaclyn Jaeger has more.

  • Blog

    Brazilian authorities sign leniency agreement with SBM Offshore

    2016-07-20T11:00:00Z

    Dutch engineering company SBM Offshore announced this week it has reached a leniency agreement with Brazilian authorities to resolve allegations relating to the Petrobras bribery scandal. Jaclyn Jaeger reports.

  • Blog

    Petrobras fallout into the private sector continues

    2016-03-15T15:30:00Z

    A 19-year prison sentence handed down in connection with Brazil’s widening “Car Wash” scandal is a wake-up call for any company that has done business with Odebrecht SA, the largest construction company in Brazil and, indeed, South America. The scandal, which began with energy firm Petrobras, should enforce that it’s ...

  • Blog

    Customers and corruption risks

    2016-03-14T11:30:00Z

    What is the cost of corruption? How much due diligence must you perform with those entities that are your customers? Does doing business with companies that have a propensity for corruption put your company at risk? In light of the scandals at Petrobras and Houston-based ENSCO, companies might want to ...

  • Blog

    Petrobras refinery explosion reveals poor compliance of a different kind

    2016-03-07T09:30:00Z

    When corruption-plagued Brazilian energy giant Petrobras overpaid for a Houston-area refinery by some $950 million, it raised more than a few eyebrows. And when that refinery suffered a large explosion and fire recently, it showed that failure to practice good safety and failure to practice good business ethics go hand-in-hand.

  • Blog

    SBM Offshore: Justice Department reopens bribery probe

    2016-02-12T12:30:00Z

    Dutch oil and gas company SBM Offshore announced this week that the U.S. Department of Justice has re-opened its past bribery investigation of the company concerning allegations of improper payments made to sales agents and foreign government officials in Equatorial Guinea, Angola, and Brazil.