The Brazilian Petrobras Scandal: The Brazilian oil giant Petrobras is the largest company in the Southern Hemisphere. On November 14, 2014, a series of police raids netted politicians and Petrobras bigwigs who had paid $2 billion in bribes… Now we have news that Petrobras is linking up with Royal Dutch Shell, which is currently mired in a billion dollar scandal: OPL 245…
Shell and Petrobras sign technical cooperation agreement to strengthen deep water partnership
Posting on Shell Blog by Bogus Group
Shell MoU with Petrobras and their partnership to share experience on cost efficiency and use of technology.
Déjà vu springs to mind (Daily Telegraph 01 March 2012) on BG Group finance of $1.8bn from Brazilian Development Bank to fund interests offshore Brazil (was this the same interests that Chapman demanded his cohorts in Brazil disclose over estimated reserves?).
Daily Telegraph 14 May 2013 also noted Chris Finlayson rhetoric to “keep up the pace with huge discoveries” and focusing on “value over volume”, leaving the company “lean and agile”.
We know the story behind Petrobras corruption; did this other “great company and their great leaders” come into the equation?
More interesting links on this scandal.
Upstream (5 June 2008) article on Petrobras chief executive and BG executive comment on “how much gas there is”. The article links to Alexander Gas & Oil (8 February 2010) on “who’s who” in the deal. One of who was subject of an article in “Debtwire” (29 August 2016), the other was noted in an article on this blog, (28 August 2017 at 16.40).
RELATED
- BG Group plots future on LNG and Brazilian cash 14 May 2013
- BG Group’s lesson for BP investors 31 Oct 2012
- BG Group shares hit by $5.4bn cost overruns 03 May 2012
- BG to sell Comgas stake for $1.8bn 03 May 2012
- BG secures long-term Brazil funding 01 Mar 2012
- BG Group profits soar despite tax hit on North Sea 09 Feb 2012
- BG Group’s solid fundamental boost by takeover talk 11 Dec 2011
- BG Group fires gun on internal race for top job 15 Nov 2011
- BG Group in Brazil oil well surprise 14 Nov 2011
- BG Group names Andrew Gould as new chairman 01 Nov 2011