Petrobras

Petrobras corruption scandal provides anti-bribery policy lessons

NEW YORK (Thomson Reuters Regulatory Intelligence) – Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, said this week that it had agreed to settle a shareholder lawsuit by The Vanguard Group, an investment management company, to recover corruption-related losses. The case offers notable lessons in anti-bribery governance and oversight.

Petrobras did not disclose the terms of the agreement, but the company said it will raise its financial provision for settlements with shareholders to $445 million from $372 million.

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Categories: Petrobras

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