Singapore Rig Giant’s Man in Brazil Says Managers Backed Bribes


Keppel Corp.’s Brazil problems just keep growing.

The world’s largest builder of offshore oil rigs has seen investments plummet in one of its most important markets. A major client, Sete Brasil Participacoes, has entered bankruptcy protection. Then last month a former agent fanned the flames of an ongoing corruption investigation by saying in court that the Singapore-based company’s top managers authorized him to pay bribes to win work with state-controlled Petroleo Brasileiro SA.

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