Petrobras CEO and five others resign amid corruption scandal

Members of Petrobras’ top management, including CEO Maria das Graças Foster and five other senior officials, resigned Feb. 4 in the wake of a corruption scandal, according to Reuters.

Brazilian federal prosecutors accuse Petrobras executives of bribery and money laundering. The illegal activity involved at least 23 billion reais ($8.9 billion) of suspect payments, bribes, and kickbacks to politicians. The investigation, which police have called Lava Jato (Car Wash), has revealed massive illicit payments from contractors to Petrobras directors. More than 80 people have been charged in connection with the scandal.

While not officially accused of direct involvement in the corruption, Foster is suspected of ignoring tip-offs about the money laundering activities within the company.

The Petrobras board of directors will meet Feb. 6 to elect a new management team.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...