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Harry Cassin
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All posts by Nicolas Torres

Saipem confirms Petrobras graft probe

Italian oil and gas services firm Saipem confirmed that Milan prosecutors are looking into alleged corruption tied to a 2011 contract awarded by Brazil’s Petrobras.

Prosecutors are investigating a contract awarded by state owned Petrobras to Saipem SA (France) and Saipem Do Brasil in 2011.… Continue Reading

Fake death? Brazil may exhume alleged mastermind in Petrobras graft plot

While Brazilian police have been busy rounding up suspects in the Petrobras probe, investigators are now looking six feet under for more answers about the multi billion-dollar corruption scheme.

Members of Brazil’s congress have asked to exhume the corpse of late politician José Janene, amid rumors that the alleged kingpin behind the corruption may have faked his own death, the Financial Times said.Continue Reading

Sinopec president detained for graft

Sinopec president Wang Tianpu (Image courtesy of Sinopec)The widening corruption probe in China has ensnared another oil executive, this time the number two man at state-owned Sinopec. 

Sinopec president Wang Tianpu was detained by Communist party officials on Monday for suspected “serious violations of discipline and law,” the Financial Times said. … Continue Reading

Petrobras: Graft scandal expenses reach $2 billion

Petrobras CEO Aldemir Bendine. Image courtesy of Nahco Doce/Creative CommonBrazil’s state-owned oil and gas giant put a $2 billion price tag on corruption related expenses Wednesday when it released its long awaited 2014 results after months of delays. … Continue Reading

Report: Petrobras CEO and five executives resign

Petrobras CEO Maria das Graças Foster has reportedly resigned from Brazil’s state-owned oil giantPetrobras CEO Maria das Graças Foster has resigned her post along with five other executives, the state owned company said Wednesday in a securities filing.… Continue Reading

Report: Providence, Rhode Island sues Petrobras for graft-related bond losses

The city of Providence, Rhode Island is reportedly suing Brazil’s Petrobras and CEO Maria das Gracas Silva Foster for bond losses tied to alleged corruption.

The suit, filed on December 24 in New York, alleges state-owned Petrobras made misleading statements to investors and inflated the price of assets to carry out kickback schemes, Brazilian newspaper O Estado do S.Continue Reading