Offshore Activity

Brazil prosecutors reject SBM leniency deal for Petrobras graft

Federal prosecutors in Brazil rejected a $328.2 million (247.34 million pounds) deal on Thursday allowing Dutch oil-ship lesser SBM Offshore NV (SBMO.AS) to avoid prosecution for corruption related to its contracts with state-led oil company Petrobras.

The decision was made by a federal prosecutor review board, which said numerous problems needed to be addressed before the deal could be approved.

SBM officials did not immediately respond to requests for comment.

The deal failed to provide authorities with enough data, documents and other information to assist in further investigations of corruption at Petrobras, the board said.

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