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Petrobras
Management & Corporate Governance
Brazilian authorities file money laundering, corruption charges against 2 men linked to Sembcorp Marine
In a regulatory filing on Monday, SembMarine stressed that the charges filed against Cheah and de Jesus are in their personal capacities and not against EJA, the group's Brazilian subsidiary.
February 03, 2020
Corruption probe
Petrobras unit head removed amid bribery allegations
(Sept 6): Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which operates a 1,610-mile pipeline transporting natural gas from Bolivia to Brazil, said its board approved the removal of Ivan de Sá on Wednesday at the request of Petrobras, its majo
September 06, 2019
Global Economy
Foreign bribery enforcement hasn’t dented practice, report says
PARIS (Sept 11): Efforts to crack down on foreign bribery have failed to stem the practice as a proportion of global trade, despite some high-profile anti-corruption cases, according to a report by Transparency International.
September 12, 2018
Shareholders in Brazil demand Petrobras match US$3 bil US settlement
RIO DE JANEIRO (Jan 5): Brazilian shareholders of state-controlled Petroleo Brasileiro SA are petitioning a Brazilian court to be paid on similar terms as those given to US shareholders in a US$2.95 billion ($3.9 billion) settlement, a lawyer told Reuters
January 05, 2018
Petrobras to pay $4 billion to end US lawsuits over graft
(Jan 4): Brazil’s state-run energy explorer Petrobras agreed to pay US$2.95 billion ($3.92 billion) to compensate U.S. investors who lost money when a massive corruption scandal eroded the oil giant’s market value.
January 04, 2018
Sneak peek: SembMarine comes under the pressure after Keppel's US$422 mil settlement
SINGAPORE (Jan 4): With Keppel Corp’s offshore and marine arm having reached a global resolution with authorities over corrupt payments made in Brazil, the market’s attention could now turn to Sembcorp Marine, another major SGX-listed oil rig builder
January 04, 2018
Update
Keppel O&M sanctioned 17 current, former employees over Brazil bribery case: document
(Dec 29): Keppel Corp's rig-building unit has taken disciplinary action against 17 current and former employees as part of its Brazil bribery case, a US court document showed, including US$8.9 million ($11.8 million) of financial sanctions, demotion
December 29, 2017
Investing strategies
Forget provision charges, here’s the bigger picture for Singapore O&M investors
SINGAPORE (Feb 17): CLSA is turning positive on Keppel Corporation and Sembcorp Marine (SMM) , upgrading its former “sell” ratings on both stocks to “buy” with the respective target prices of $7.60 and $2 on the belief that Singapore’s offshore
February 17, 2017
Watchdog says about 15 Swiss banks in money laundering 'red zone': SonntagsZeitung
(Oct 16): Roughly 15 Swiss banks are in a "red zone" of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published on Sunday.
October 16, 2016