SMB Offshore in $342 million settlement with Brazil prosecutors and Petrobras
Prosecutors in Brazil and state-owned oil company Petróleo Brasileiro SA signed a settlement agreement Friday with Netherlands-based oil and gas services firm SBM Offshore NV to resolve allegations of corruption.
Under the so-called leniency agreement, SBM will pay Petrobras $342 million through a combination of a cash penalty and discounts on future work.… Continue Reading