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Tag Archives: state oil company

U.S. says $1 billion linked to Venezuelan energy corruption scheme

Venezuelan energy corruption scheme

U.S. authorities have traced over $1 billion to a conspiracy involving a Venezuelan magnate who allegedly paid bribes to obtain contracts from Venezuelan state oil company PDVSA, according to U.S. court papers made public on Monday. The details came a day after the U.S. Justice Department confirmed that authorities had arrested Roberto Rincon, a Venezuelan citizen who is president of ...

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Brazil’s Petrobras expected to name new CEO

petrobras logo

SAO PAULO — The board of directors for Brazilian oil firm Petrobras is meeting Friday and is expected to name a new chief executive officer later in the day. Brazil’s state oil company is in crisis amid an expanding corruption investigation into a long-running kickback scheme on its contracts. Several top executives from Brazil’s biggest construction and engineering firms already ...

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