Factbox: The trading firms under investigation in Brazil graft probe [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Reuters
Factbox: The trading firms under investigation in Brazil graft probe | Reuters 4 Min Read (Reuters) - Last week, Brazilian investigators accused four of the world’s largest oil-trading firms of participating in a corruption scheme focused on Brazil’s state-controlled oil company Petrobras. Federal prosecutors allege Vitol, Glencore, Trafigura and Mercuria along with several small firms collectively paid at least $31 million in bribes over a six-year period to Petrobras insiders to secure oil deals at advantageous prices. Prosecutors said what they have uncovered so far is the “tip of the iceberg”. The investigation is ongoing and the firms have not been charged. Mercuria denied the allegations. Vitol, Mercuria and Glencore said they would cooperate with the Brazilian investigation while Trafigura said it was reviewing the allegations. Trafigura, Mercuria and Vitol said they have a zero-tolerance policy for bribery and corruption. Glencore said it takes ethics and compliance seriously.
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