Brazil: Petrobras resumes oil trading with Vitol, Trafigura and Glencore

Brazil’s state-run oil firm Petrobras has lifted its ban on trading with major commodity traders Vitol, Trafigura and Glencore, in place since Brazilian prosecutors announced a bribery probe in 2018, the company told Reuters.

“After a temporary suspension period with the companies cited, the company re-initiated business after adopting and perfecting a series of specific measures meant to bring more security to the commercial relationship,” Petrobras said in a statement to Reuters.

Brazilian prosecutors announced in early December 2018 that they were investigating the three major energy trading firms, along with a number of smaller ones, for paying at least $31 million (£24 million) in bribes to Petrobras employees in exchange for sweetheart oil deals.

The original full article can be found at reuters.com

(Photo: REUTERS/Sergio Moraes)

 

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