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Shell/Petrobras: a partnership of corrupt oil giants

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).


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