What is the Petrobras scandal?
The Federal Police consider it the largest corruption investigation in the country’s history. Originally a money laundering investigation, it expanded to cover allegations of corruption at Petrobras, where executives allegedly accepted bribes in return for awarding contracts to construction firms at inflated prices.
Does Odebrecht still exist?
The company was founded in 1944 in Salvador, Bahia by Norberto Odebrecht, and is now present in the regions of the Americas, the Caribbean, Africa, Europe and the Middle East. Its leading company is Norberto Odebrecht Construtora.
Is Petrobras an NOC?
Brazil’s integrated NOC Petróleo Brasileiro SA (Petrobras), meanwhile, has undertaken a massive divestment campaign in order to focus its efforts and resources on exploration and production of the offshore pre-salt formation.
Petrobras scandal, Brazilian political corruption scandal beginning in 2014 that involved the indictment of dozens of high-level businesspeople and politicians as part of a widespread investigation alleging that many millions of dollars had been kicked back to officials of Petrobras, Brazil’s huge majority-state-owned oil company, and to
What is the Petrobras oil scam?
By June 2015 a massive scheme to defraud Petrobras on contracts to develop the so-called pre-salt oil reserves found offshore in 2007 had appeared on investigators’ radar.
What is the Petrolão scandal?
Dubbed “Petrolão”—after mensalão (“big monthly bribe”), the vote-buying scandal that had plagued the government of Rousseff’s predecessor and mentor, Luiz Inácio Lula da Silva (better known simply as “Lula”)—the episode came to be viewed as the largest corruption scandal in Brazilian history.
Why did Petrobras lose $135bn?
Petrobras posts its first quarterly loss in 13 years, partly as a result of the government’s refusal to allow it to raise fuel prices in line with global markets Brazil holds its first oil auction for five years, raising $1.4bn Petrobras reports gross debts of more than $135bn, making it the world’s most indebted oil producer