Does this name ring a bell at all? No? And yet it is the world’s fourth largest independent oil trader. Vitol is a Dutch energy and commodities company and its primary business is the trading and distribution of energy products globally – it trades over seven million barrels per day of crude oil and products and, at any time, has 250 ships. Brazil's epic “Car Wash” corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. Lagos — France's oil giant Total and international trading firms Trafigura and Vitol were among 21 companies handed crude oil term lifting contracts for 2016 by state oil firm Nigerian National Petroleum Corp, NNPC said Thursday. Vitol, Glencore and Shell join three consortiums in contention for the acquisition of Petrobras’ Nigerian assets. GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of. Department of Justice is investigating a former U. SA) that owns stakes in two major Nigerian offshore oil blocks, industry and banking. Justice Department is investigating a former U. Last week, Brazilian investigators accused four of the world's largest oil-trading firms of participating in a corruption scheme focussed on Brazil's state-controlled oil company Petrobras. Brazil's Petrobras shakes up trading unit amid increasing exports 7/2/2019 Brazil’s Petroleo Brasileiro SA is reorganizing its trading business, the company told Reuters, as the state-run oil firm seeks to best take advantage of an expected increase in oil and gas exports. The Justice Department, FBI and Brazilian authorities are studying whether Trafigura, Vitol, Glencore and Mercuria used middlemen to facilitate bribes to win contracts at Petroleo Brasileiro. This site hasn't missed a single target in Venezuela's gargantuan corruption leagues. World's Top Oil Trader to Raise Stake in Pakistan Fuel Retailer A Vitol spokeswoman in London declined to comment. RIO DE JANEIRO/SAO PAULO (REUTERS) - Leading global oil traders Vitol, Trafigura and Glencore paid more than US$30 million (S$41 million) in bribes to employees at state-owned Brazilian company. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. Cockett Marine Oil is a leading supplier of bunker fuel, supplying in excess of 7. Insight: Vitol, rival oil traders in spotlight of Brazil bribery probe Graft allegations lodged by prosecutors last week against four of the world's largest oil trading companies have opened an explosive new phase in the long-running probe. A consortium led by top oil trader, Vitol has agreed to acquire 50 percent stake in Brazilian Petroleo Brasileiro SA’s (Petrobras) offshore fields in Nigeria. The United States scored 71 points out of 100 on the 2018 Corruption Perceptions Index reported by Transparency International. On March 6, Brazil's Supreme Court (STF) disclosed an initial list of 54 top politicians approved for formal investigations in connection with Petrobras corruption, including the president of the Senate Renan Calheiros, the president of the Chamber of Deputies Eduardo Cunha, and the notorious ex-Minister of Mines and Energy, Edison Lobão. He has lived and worked in China (mainland and Hong Kong) and South America (Argentina). Vapors may be ignited rapidly when exposed to heat, spark, open flame or other source of ignition. By Cosmo Sanderson Vizcarra must show a greater commitment to combating corruption, say local lawyers. Justice Department is investigating a former U. Trafigura and Glencore had no immediate comment. Brazil’s former President Luiz Inacio Lula da Silva holds his hand over his eyes as he weeps during a news conference, while speaking on the money laundering and corruption charges he faced, in. Mercuria, Vitol and Glencore said they would cooperate with the Brazilian investigation, while Trafigura said it was reviewing the allegations. Vitol is at heart a merchant, moving oil around the globe and trying to make a buck in between. Vitol was contacted in September 2018 by Global Witness and has since liaised extensively with it. 48 of the Arbitration Act to the enforceability of the foreign award had been rejected and stayed. “Brazil needs more than 30mn m 3 /d of natural gas and Bolivia is a strategic partner in this mission. Brazilian authorities last week searched the Rio de Janeiro-area offices of Vitol, Trafigura and Glencore as well as other entities they allege participated in the scheme. Brazil's prosecutors in charge of the Lava Jato corruption probe said Friday executives from global trading company Trafigura are the first target in their investigations regarding crimes in Petrobras' oil trading. The home of Chelsea Football on BBC Sport online. Parmi les inculpés: trois intermédiaires des traders suisses et le représentant de Trafigura au Brésil 2 minutes de lecture. In the alternative, Vitol claimed damages on a market value basis for the difference in the cost of a replacement cargo. Swiss prosecutors also have an open investigation, announced one month after Ferraz's arrest in Brazil in 2016. Trafigura, Mercuria and Vitol said they have zero-tolerance policies for bribery and corruption. List of Corporate Headquarters in LUXEMBOURG Search a company in Luxembourg with your criteria (trade name, adress, Luxembourg registry number). Oil trader Vitol and Delonex Energy have quit a consortium that was set to buy a stake in two Nigerian oil fields from Brazil's Petrobras. Glencore, Trafigura, Vitol bribed Petrobras staff: Brazil prosecutors. ” Vitol is the ninth biggest company in the world by revenue, sitting only behind the likes of BP , ExxonMobil, Walmart, Saudi Aramco, Shell and Sinopec. Brazilian federal prosecutors on Thursday charged 12 people in connection with an alleged bribery scheme meant to benefit oil trader Vitol Group at the expense of Brazil’s state-led oil firm Petroleo Brasileiro SA. The oil sector is well known for its corruption risks, but one corner of the industry has received less attention than it deserves: commodity trading. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. This deal valued at $1. From Russia with love. Oil trader Trafigura ex officials face corruption charges in. Justice Department is investigating a former U. RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. Tags: anti-corruption | Asia | Brazil | corruption | Vitol — Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News SAO PAULO/LONDON: Brazil’s epic “Car Wash” corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. Temer is clinging to power, for now. StAR Asset Recovery Watch is a public database that tracks efforts by prosecution authorities worldwide to go after assets that stem from corruption. Both Dilma Rousseff, who promised to cut corruption in her election campaign, and former Brazilian president Luiz Inácio Lula da Silva served on the board of directors of Petrobras during the scandals and both were blamed, as well as the president of the lower house, Eduardo Cunha. Department of Justice (DOJ), the Brazilian Federal Police and other Brazilian public authorities in connection with corruption allegations (so called Lava Jato investigations) consisting, among other things, of illegal payments made to officers, directors and other. Mercuria has denied wrongdoing. It is the largest ever global anti-bribery deal, with Brazil due to receive 80 per cent, and the remainder split equally between the US and Switzerland. RIO DE JANEIRO/SAO PAULO—Trading giants Vitol, Trafigura, and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA, Brazil prosecutors said on. Glencore, Vitol and Trafigura are being investigated of bribing employees of the state oil company and middlemen $5. Vitol will always engage with the relevant authorities in any jurisdiction in which it operates and respect the confidentiality of these relationships. Along with a handful of fleet-footed rivals such as Glencore, Gunvor, Mercuria and Trafigura, Vitol emerged as one of the players in the industry. Earlier this month, Brazilian authorities accused both companies, and major trader Glencore, of paying over $15 million in bribes to officials at state oil company Petrobras. And one of the pending transactions to be affected is the sale by Brazil's state-owned oil firm, Petrobas of its stake in some Nigerian oil fields. Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. Vitol said it has “a zero-tolerance policy in respect of bribery and corruption”. It marks a contrast with. The chief executive of a natural gas pipeline unit of Brazilian state oil firm Petrobras has been removed, the company told Reuters on Thursday, after a middleman in a graft scheme implicated him in plea bargain testimony. In Thursday's charging document, prosecutors said one of Vitol's top executives, Mike Loya, head of the firm in the United States, and Antonio Maarraoui, the company's head for Latin American and the Caribbean, had full knowledge of the scheme. Petrobras has said there are no indications of wrongdoing in that deal, but it would be up to Brazilian regulators to make the final determination. Petrobras has said there are no indications of wrongdoing in that deal, but it would be up to Brazilian regulators to make the final determination. SA) in return for business. Shell aims to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible. RIO DE JANEIRO/HOUSTON (Reuters) – The FBI is investigating energy trading firm Vitol’s top two executives in the Americas in connection with a Brazil bribery case, two sources with direct knowledge of the matter said, deepening the U. Swiss authorities will assist Brazilian prosecutors in the investigation of alleged corruption involving commodity trading firms Vitol, Glencore and Trafigura Pressure is growing on global. Does this name ring a bell at all? No? And yet it is the world’s fourth largest independent oil trader. Deng Xiaoping’s China was liberalising, the first step to entering the world economy. Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals (iron ore and coal). -based oil trader for Brazil's Petrobras already charged in his home country with taking part in a corruption scheme involving. A logo of the Brazil’s state-run Petrobras oil company is seen in Rio de Janeiro, Brazil March 25, 2019. NGOs active in anti-corruption campaigns have been calling on regulators and Swiss authorities to investigate the use of middlemen to secure lucrative deals in oil rich countries. Insight: Vitol, rival oil traders in spotlight of Brazil bribery probe Graft allegations lodged by prosecutors last week against four of the world's largest oil trading companies have opened an explosive new phase in the long-running probe. This deal valued at $1. RIO DE JANEIRO/BRASILIA (Reuters) - The chief executive of a natural gas pipeline unit of Brazilian state oil firm Petrobras (SA:PETR4) has been …. Brazil's Petrobras shakes up trading unit amid increasing exports 7/2/2019 Brazil’s Petroleo Brasileiro SA is reorganizing its trading business, the company told Reuters, as the state-run oil firm seeks to best take advantage of an expected increase in oil and gas exports. The biggest independent oil and metals trading houses, including Vitol Group, Trafigura Group Ltd. Of course the Olympics are corrupt. (Reuters) - The U. Ongoing probes have also hurt the recovery of Brazil’s construction sector that’s contracted for four straight years, dragging on overall activity. It has run TV spots touting its whistleblower hotline as well as a compliance department created in the wake of Brazil's epic "Car Wash" corruption scandal, which damaged the oil giant, helped tip. Tags: anti-corruption | Asia | Brazil | corruption | Vitol — Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News SAO PAULO/LONDON: Brazil’s epic “Car Wash” corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. Brazil prosecutors alleged on Wednesday that employees at state-owned oil company Petroleo Brasileiro SA received bribes from trading giants Vitol, Trafigura and Glencore in return for business. Brazilian prosecutors have charged two former executives of Trafigura with corruption as part of a wider investigation into international commodities traders. Vitol, Glencore and Trafigura, which boast combined annual revenues of more than half a trillion dollars. (Sept 6): Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which operates a 1,610-mile pipeline transporting natural gas from Bolivia to Brazil, said its board approved the removal of Ivan de Sá on Wednesday at the request of Petrobras, its majority shareholder. 49 million) deal to settle corruption allegations against it, federal authorities said on Tuesday, as part of the so-called “Car Wash” graft investigation. Vitol has reportedly so far declined to comment on these developments. (Bloomberg) -- Brazil's federal police are investigating oil trading giants Vitol SA, Trafigura AG and Glencore Ltd. This Precedent is a termination notice which can be used in the context of a construction project where a contractor/sub-contractor is in default under its contract and its employer (having already notified the contractor/sub-contractor of its breach and given notice of its intention to terminate) wants to terminate the contractor/sub-contractor’s. MPA and DNV-GL in decarbonisation and. 1 day ago · Condo Linked to Nigeria Corruption Case Listed for Sale at $7. Commodity traders Glencore, Vitol and Trafigura are under investigation on suspicion of paying more than $15m (£11. Brazil: 3-Vitol bribery case in Brazil sees 12 charged for graft. Vitol will have. Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other. " -- The investigations pertain to a bribery case involving Brazil's Petroleo Brasileiro SA, the report said. If you have an experience or insight to share or have learned something from a conference or seminar, your peers. A (PDVSA) and Brazil’s Petrobras are dependent on Caribbean storage facilities because their domestic networks are not big enough to store the extra oil. A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global energy trading firm Vitol in a. 4%) already charged in Brazil with taking part in a corruption scheme involving commodity trading f. Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business. With a strong support of some 25,000 members, Public Eye focuses on global justice. were accused by Global Witness of dealing with men accused or convicted of involvement in Brazil’s “Operation Car Wash” investigation. We are driven by the challenge of supplying the energy that can propel development and ensure the future of the society with competency, ethics, cordiality, and respect for diversity. are being investigated by the Federal Bureau of Investigation, Reuters reports Wednesday, citing "two sources with direct knowledge of the matter. A Vitol spokesman said the firm "has a zero tolerance policy in respect of bribery and corruption and will always cooperate fully with the relevant authorities in any jurisdiction in which it. com provides business and credit information about Luxembourg firms. authorities. , Mercuria Energy Group Ltd. Brazilian prosecutors last week levelled corruption charges against two former Trafigura executives. Brazil antitrust agency clears Raizen Energia purchase of Cosan Biomassa EU should revise fiscal rules to free up spending on climate – advisers U. According to Brazil's federal police, leading independent oil traders Vitol, Glencore and Trafigura may have made bribery payments to Petrobras officials totaling more than $15 million. Cunha was sentenced in March 2017 to 15 years in prison. Vitol’s Aussie arm now offering VLSFO to shipowners Bulkers Swire teams with top pulp maker to launch Kiwi-Asia service Technology Global Maritime Forum. Brasília (AFP) - Brazil's Congress has voted to allow state oil company Petrobras to sell off its massive "pre-salt" oil fields, opening the door for the struggling company to raise much-needed cash. INTERNATIONAL - Petroleo Brasileiro SA is close to announcing a sale of its stake in an African oil and gas exploration business to a group of investors led by Vitol Group, people familiar with. Swiss prosecutors also have an open investigation, announced one month after Ferraz's arrest in Brazil in 2016. Brazil’s epic “Car Wash” corruption investigation has taken down presidents and led to the largest corporate leniency deal ever signed. The statistics that motivate us 10 | The Vitol Foundation Report Sub-Saharan Africa is the most dangerous place in the world for a woman to be pregnant. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may. For fifty years, Public Eye has offered a critical analysis of the impact that Switzerland, and its companies, has on poorer countries. List of Corporate Headquarters in LUXEMBOURG Search a company in Luxembourg with your criteria (trade name, adress, Luxembourg registry number). The Oil-for-Food Programme (OIP), established by the United Nations in 1995 (under UN Security Council Resolution 986) was established to allow Iraq to sell oil on the world market in exchange for food, medicine, and other humanitarian needs for ordinary Iraqi citizens without allowing Iraq to boost its military capabilities. 48 of the Arbitration Act to the enforceability of the foreign award had been rejected and stayed. Trafigura, Mercuria and Vitol said they have zero-tolerance policies for bribery and corruption. Vitol, Glencore, Trafigura According to Retuers : “The U. Oil trader Trafigura ex officials face corruption charges in. It is the largest ever global anti-bribery deal, with Brazil due to receive 80 per cent, and the remainder split equally between the US and Switzerland. France appeals against Vitol and Total’s foreign bribery acquittals. along with commodity traders Vitol and Trafigura. 9 billion (US$2. (Reuters, Gary McWilliams, 19. But graft allegations lodged by prosecutors last week against four of the world's largest oil trading companies - Vitol SA, Trafigura, Glencore. The Swiss are assisting Brazilian prosecutors investigating alleged bribery and corruption links to Vitol, Trafigura and Glencore. Vitol's ascent in Kazakhstan. The biggest independent oil and metals trading houses, including Vitol Group, Trafigura Group Ltd, Glencore plc, Mercuria Energy Group Ltd and Gunvor Group Ltd, are facing bribery and corruption investigations in jurisdictions ranging from Brazil to Switzerland and, most importantly, the US. Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online. RIO de Janeiro (Reuters) - Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company. Dec 05, 2018 · Separately, Vitol told UPI the company "has a zero tolerance policy in respect of bribery and corruption" and will always cooperate with authorities in any jurisdiction in which it operates. SAO PAULO (Reuters) - Brazilian federal prosecutors on Thursday charged 12 people in connection with an alleged bribery scheme meant to benefit oil trader Vitol Group at the expense of Brazil's state-led oil firm Petroleo Brasileiro SA. Brazilian federal prosecutors on Thursday charged 12 people in connection with an alleged bribery scheme meant to benefit oil trader Vitol Group at the expense of Brazil's state-led oil firm Petroleo Brasileiro SA. Mining giants Glencore received a subpoena by the United States Department of Justice (DoJ) last week for its documents and records in an ongoing investigation into corruption and bribery in Nigeria, Venezuela and the Democratic Republic of Congo. The two new probes are the 43rd and 44th phases of the investigation that. Discover more. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. Glencore, Vitol and Trafigura are being investigated of bribing employees of the state oil company and middlemen $5. 00 on a delivered basis during November 4 to 5, down 40 cents a barrel. SÃO PAULO—Brazil’s sprawling Operation Car Wash corruption probe is investigating mining giant Glencore PLC, Trafigura Group and Vitol Group for allegedly paying millions of dollars in bribes to. 49 billion reais ($381. 1b comprised of RM230. Companies operating in the EU should disclose certain information about their finances and how they operate in reports for transparency purposes. (Reuters) - Last week, Brazilian investigators accused four of the world's largest oil-trading firms of participating in a corruption scheme focused on Brazil's state-controlled oil company Petrobras. GENEVA (Reuters) – Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. “Brazil needs more than 30mn m 3 /d of natural gas and Bolivia is a strategic partner in this mission. Major Commodity Traders Investigated in Brazilian Corruption Probe. What are the linkages between corruption and commodity trading? Please provide a brief overview of the state of knowledge including on the mechanisms involved, an estimate on the money flows and some case studies. By Ricardo Brito and Gram Slattery. Commodity traders Glencore, Vitol and Trafigura are under investigation on suspicion of paying more than $15m (£11. BRASILIA / RIO DE JANEIRO (Reuters) - A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global energy trading firm Vitol in a bribery operation to obtain oil contracts, as well as two high-ranking executives at rival Trafigura and its former CEO, according to plea bargain testimony seen by Reuters. corruption allegations. Ghana News, News in Ghana, latest in ghana, Business in Ghana, Entertainment in Ghana , Top Stories, Headlines in Ghana, Politics in Ghana, Elections in Ghana, Sports. The director of Brazil’s national agency of petroleum, natural gas and biofuels Jose Cesario Cecchi suggested at an event with Boliva’s hydrocarbon minister Luis Sanchez that the deal may still be renegotiated. , UK, and Brazilian authorities. Mercuria, Vitol and Glencore said they would cooperate with the Brazilian investigation, while Trafigura said it was reviewing the allegations. Brazilian federal prosecutors on Thursday charged 12 people in connection with an alleged bribery scheme meant to benefit oil trader Vitol Group at the expense of Brazil's state-led oil firm. No-one likes them, they don’t care Posted on August 06, 2016 by Rev. for their alleged role in a kickback scheme with officials at Petroleo. When mixed. It added: “Vitol will always co-operate fully with the relevant authorities in any jurisdiction in which it. The alleged graft was the latest finding of the country's sweeping 'Car Wash' investigation…. 07 MEG EAST WS50 SHELL GENER8 THESES 270000 27. Marielle Franco was a vocal critic of police violence in Brazil, one of the most dangerous countries in the world. After a challenging 2018 that saw project momentum in the US Gulf of Mexico (GOM) falter amid weaker oil prices, the outlook for drilling activity in 2019 appears diminished. Reuters University of Chicago-trained economist to head Brazil. Petrobras news and PETR3 price. Brazil’s epic “Car Wash” corruption investigation has taken down presidents and led to the largest corporate leniency deal ever signed. Ram Sunkara serves on the Eversheds Sutherland (US) Executive Committee and focuses his practice on negotiating and finalizing acquisition and disposition agreements, structuring transactions and auction processes, and managing all aspects of a deal. 5m allegedly paid in bribes over oil buying and selling operations. It has run TV spots touting its whistleblower hotline in addition to a compliance division created within the wake of Brazil’s epic “Automotive Wash” corruption scandal, which broken the oil large, helped tip Brazil into recession and landed a former president behind bars. The office areas of Trafigura, Vitol and Glencore located in Rio de Janeiro have been searched by the Brazilian authorities. Petrobras said it fired Berkowitz and is working with prosecutors in Brazil. Jair Bolsonaro says Brazil is keen to join Opec. GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of Switzerland said on Monday. Brazilian police have issued warrants for the arrest of Sargeant representative Luiz Eduardo Loureiro Andrade and two former managers at Petrobras. The prosecutor-led appeal against a decision in which double jeopardy protections were extended to companies facing trial in France has begun in the Paris Court of Appeals. Thread by @ninaandtito: "ODEBRECHT = The Global Corruption Scandal Remember Peru’s ex-President who shot himself whenje was about to be arres Venezuela corruption. -based oil trader for Brazil's Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Vitol SA , Glencore PLC and Trafigura AG. By Julia Payne. UL], Trafigura [TRAFGF. Brasília (AFP) - Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. investigation, with the latter reiterating past statements that it. 5 million tonnes globally each year. 1 day ago · Condo Linked to Nigeria Corruption Case Listed for Sale at $7. Free real-time prices, trades, and chat. rs/2zWgcLA (Updates paragraph 30 to add that Ljungberg has already been charged in a separate. A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group , Glencore and other major oil trading firms has been arrested in. Justice Department is investigating a former U. Vitol will have. , a subsidiary owning interest in two deepwater offshore blocks in Nigeria. -based oil trader for Petrobras (PBR -2. Exclusive: Petrobras unit head removed amid bribery allegations By Reu. arms of Vitol and others implicated by Brazilian officials, as some of those funds moved through U. GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of. THE NEW NPP Government, riding on the wings of zero tolerance for corruption, is facing a severe strain on its creed following a multi-billion cedi crude oil management/lifting contract that has. bank to allow him to take back a key stake in the bank's controlling partnership after he. Glencore, Vitol and Trafigura, all of which have strong ties to London, are the subject of the next phase of the Car Wash investigation, according to federal authorities in Brazil. -based oil trader for Brazil's Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Vitol SA, Glencore PLC and Trafigura AG, according to people familiar with the matter. for a total amount of US$250 million. Petrobras sold its 50% stake in Petrobras Oil and Gas BV, known as Petroafrica, to Vitol SA last year. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. Across the US, Vitol sells the below refined products at fuel terminals throughout Texas, the Gulf Coast, and Mid-Continent. Visit our website at www. Corruption of Vitol, Glencore, Trafigura at PDVSA dwarfs all others 1 month ago By Alek Boyd Reuters posted an "exclusive" yesterday about corruption in Brazil that's been in the public domain for a while. role in a probe of foreign oil firms' dealings with state-controlled Petrobras. BRASILIA / RIO DE JANEIRO (Reuters) - A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global energy trading firm Vitol in a bribery operation to obtain oil contracts, as well as two high-ranking executives at rival Trafigura and its former CEO, according to plea bargain testimony seen by Reuters. Many African producers also store in the region. RIO de Janeiro (Reuters) - Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company. 883 billion with repayment as well as receivables totalling RM788 billion • The govt is looking at an additional RM100mil in contribution from the raised tax bracket from 28% to 30% for Malaysians earning more than RM2mil: Finance Minister Lim Guan Eng • Total budget spent in FY18 was RM287. Vitol, rival oil traders in spotlight of Brazil bribery probe By Brad Brooks and Julia Payne SAO PAULO/LONDON (Reuters) - Brazil's epic "Car Wash" corruption investigation has taken down presidents. Former Brazilian President Michel Temer was arrested on Thursday on corruption charges, a dramatic development in a sprawling corruption probe that has roiled Brazil has showed no sign of slowing. The subsequent corruption revelations have toppled politicians and executives once thought untouchable, and affected companies’ overseas operations. arms of Vitol and others implicated by Brazilian officials, as some of those funds moved through U. RIO DE JANEIRO/SAO PAULO: Leading global oil traders Vitol, Trafigura and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said. (Reuters) - The U. org Brazilian authorities expanded Friday their mammoth corruption investigation, Operation Car Wash, to include at least five Greek shipping companies, a US asphalt firm and a Brazilian ex-congressman. Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore (GLEN. 2 Million to Settle Corruption. StAR Asset Recovery Watch is a public database that tracks efforts by prosecution authorities worldwide to go after assets that stem from corruption. RIO DE JANEIRO/SAO PAULO (REUTERS) - Leading global oil traders Vitol, Trafigura and Glencore paid more than US$30 million (S$41 million) in bribes to employees at state-owned Brazilian company. Brazil's ex-President Michel Temer was arrested Thursday in an investigation of alleged graft in the construction of nuclear plant Angra 3, prosecutors told Reuters, rattling the political class. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. The employee, Rodrigo Garcia Berkowitz, worked as an oil trader, and prosecutors say he used the nickname Batman. Brazil's Petroleo Brasileiro SA will sell its 50 per cent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1. Vitol was contacted in September 2018 by Global Witness and has since liaised extensively with it. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. UL], Trafigura [TRAFGF. For fifty years, Public Eye has offered a critical analysis of the impact that Switzerland, and its companies, has on poorer countries. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. Norway’s anti-corruption authority has said it will decide whether to charge oil services companies Sevan Marine and Sevan Drilling with corruption tied to Brazil’s state-controlled oil company Petrobras in the near future. Brazil’s former president Luiz Inacio Lula da Silva was absolved Thursday in one of the six pending legal cases he is facing, all unrelated to the corruption charges that have sent him to prison. The oversupply from the country (62m in 2018) made the price drop low. -based oil giant sees great opportunities in Brazil. Petrobras has been left reeling by its involvement in a massive corruption scandal in Brazil, Vitol's partners in the purchase are the Africa Oil Corp. -based oil trader for Brazil's Petrobras already charged in his home country with taking part in a corruption scheme involving commodity. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. Lula, who left office in 2011, denied allegations of corruption. Includes the latest news stories, results, fixtures, video and audio. SAO PAULO/LONDON: Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. The United States scored 71 points out of 100 on the 2018 Corruption Perceptions Index reported by Transparency International. Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of Switzerland said on Monday. Prosecutors on Friday alleged the executives, Mariano Marcondes Ferraz and Marcio Pinto de Magalhães, paid bribes of about $1. (Reuters) - Last week, Brazilian investigators accused four of the world's largest oil-trading firms of participating in a corruption scheme focused on Brazil's state-controlled oil company Petrobras. “Brazil needs more than 30mn m 3 /d of natural gas and Bolivia is a strategic partner in this mission. Glencore dragged into another corruption probe after Brazilian authorities accuse it of paying bribes to employees at state-owned oil company. The programme was set up in 1996 to allow. Posted in Anti-Corruption, Brazil, Cuba, Ecuador, Helms-Burton Act, Latin America Practice, Mexico, Nicaragua, PROSUR, Venezuela, Venezuela Sanctions Crowell & Moring’s Latin America Practice publishes a Regional Recap each month to highlight some of the most relevant news and trends from the region impacting international trade and investment. GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of Switzerland said on Monday. Vitol, rival oil traders in spotlight of Brazil bribery probe. " -- The investigations pertain to a bribery case involving Brazil's Petroleo Brasileiro SA, the report said. The probe marked a new phase in Operation Car Wash, an anti-corruption investigation opened in 2014 that. UL], Trafigura [TRAFGF. It added: "Vitol will always co-operate fully with the relevant authorities in any jurisdiction in which it. This content was published on February 13, Brazilian prosecutors alleged Vitol, Glencore and. JERA, Vitol in First Atlantic LNG Swap under Baltic’s BLNG3 glory 26-09-2019 12:50 Area News LNG traders JERA Global Markets and Vitol have executed the first Atlantic LNG freight swap against The Baltic Exchange’s BLNG3 assessment in a bilateral trade arranged by Affinity Financial Products LLP. Because Vitol, Glencore and Trafigura, all have strong ties to Switzerland, the Swiss authorities assists Brazilian prosecutors in the investigation of the alleged corruption. [All previous press releases] Guidewire Sued by EEOC for Disability Discrimination - 10/24/2019 Breakthru Beverage Illinois to Pay $950,000 to Settle EEOC Class Employment Discrimination Investigation - 10/23/2019. Vitol and Mozambique's state oil firm form trading joint venture; Russia sending 29 athletes to track worlds on neutral team; New spats shake Iraq's teetering stability -- and its PM. For fifty years, Public Eye has offered a critical analysis of the impact that Switzerland, and its companies, has on poorer countries. A Vitol spokesman said the firm “has a zero tolerance policy in respect of bribery and corruption and will always cooperate fully with the relevant authorities in any jurisdiction in which it. For remember: Glencore, Trafigura and Vitol also stand accused of paying millions worth of bribes to Brazil's Petrobras, and yet another probe into the affair was launched last week. Vitol, it continued, offered a prompt cargo of Forcados in the window at dated Brent plus $5. The US Federal Bureau of Investigation had been investigating on trading firm, Vitol's top two US executives, in connection with a bribery scheme linked to dealings with much-scandalized Brazilian Petroleo Brasileiro SA, at least two sources with direct knowledge regarding the issue unveiled on Wednesday, the 13th of February. Jair Bolsonaro says Brazil is keen to join Opec. In Thursday's charging document, prosecutors said one of Vitol's top executives, Mike Loya, head of the firm in the United States, and Antonio Maarraoui, the company's head for Latin American and the Caribbean, had full knowledge of the scheme. Banking Secrecy; Bankruptcy; Base Erosion & Profit Shifting; Controlled Foreign Companies; Corruption; Digital Services; Dividends; Earnings stripping. Glencore said it takes ethics and compliance seriously. The alleged actions all predate the merger. At Petrobras’ trading desk in Houston, Texas, and in the company’s headquarters in Rio de Janeiro, Brazil’s “Car Wash” investigation charges Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business. Prosecutors say at least $2. For fifty years, Public Eye has offered a critical analysis of the impact that Switzerland, and its companies, has on poorer countries. Speaking at International Petroleum Week conference “Half a billion barrels of oil has been drawn down in a short period of time”. SAO PAULO/LONDON (Reuters) - Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. The companies are ready to cooperate with the authorities for the investigation. In November, Global Witness called on the UK, US and Switzerland to examine the activities of Glencore, Vitol and Trafigura in Brazil. -based oil giant sees great opportunities in Brazil. (“Beta”), a manufacturer of bio fuel products, for the delivery of 4,500 metric tonnes of bio fuel at a price of EUR3,570,750. Petrobras has been left reeling by its involvement in a massive corruption scandal in Brazil, in which top politicians and business executives colluded to skim billions of dollars off its books. 4%) already charged in Brazil with taking part in a corruption scheme involving commodity trading f. BRASILIA, July 15 (Reuters) - Brazil's Justice Minister José Eduardo Cardozo pledged on Wednesday to punish any investigators found to have broken the law by using unauthorized bugs or leaking. The Global Witness report contains no evidence of any wrongdoing by Vitol. The Algarra and Vasquez arrests were part of an ongoing corruption sweep that began last year. Vitol, rival oil traders in spotlight of Brazil bribery probe December 13, 2018 evan1313 Uncategorized Leave a comment Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. UL], Trafigura [TRAFGF. role in a probe of foreign oil firms' dealings with state-controlled Petrobras. After a challenging 2018 that saw project momentum in the US Gulf of Mexico (GOM) falter amid weaker oil prices, the outlook for drilling activity in 2019 appears diminished. By Pedro Fonseca and Marcelo Rochabrun. Vitol, Glencore and Shell join three consortiums in contention for the acquisition of Petrobras’ Nigerian assets. Petrobras unit head removed amid bribery allegations The oil trading investigation became public knowledge in December when prosecutors said that Vitol, Trafigura, Glencore and Mercuria Energy. The sanctions were in response to repression during the 2014 Venezuelan protests and the 2017 Venezuelan protests, and activities during the 2017 Venezuelan Constituent Assembly election and the 2018 Venezuelan presidential election. GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of Switzerland said on Monday. GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of Switzerland said on Monday. Its business is managed in full compliance with all relevant legislation. com (Pakistan) "US Sanctions 2 South Sudan Businessmen, 6 Companies For Corruption - Treasury Dept. 25 million) in. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. Total, and its CEO, has had all charges against them dropped over accusations of corruption to do with the oil-for-food programme. Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the. RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. “Vitol continually ships thousands of tonnes of nearly every major commodity and raw material around the planet…Simply put, Vitol is one of the biggest trading companies on the planet. The NNPC is a huge hazy burden on the Nigerian nation; a cesspit of corruption, a drain on the nation’s resource, a major source of our economic decline and a major reason why we remain in economic misery after 59 years of Independence. Vitol's ascent in Kazakhstan. We are not popular. Brasilia An intermediary of a broad plot of corruption in Brazil's state-owned company Petrobras involved the president of the operator Vitol and two members of the board of his rival Trafigura in a bribe operation to obtain oil contracts, according to testimonies of a guilty agreement reviewed by Reuters. -based oil trader for Petrobras (PBR -2. 9 billion in divestitures through 2023. Such a deal could give Exxon access to oil fields and infrastructure in Brazil while state-controlled Petroleo Brasileiro SA could gain from Exxon’s expertise in production, refining and distribution, the people said. US sanctions companies for engaging in corruption "at great expense to the South Sudanese people" Author: Mohammad Ali, in UrduPoint. Evidence and Mitigation Measures for Corruption in the Trading of Oil and Minerals, by Mr Andreas Missbach, Head of Commodities, Trade and Finance and Joint Managing Director, Public Eye. The company on January 3 agreed to pay $2. Brazil-based global construction conglomerate, to authorities in the United States, Brazil, and Switzerland was reduced from $4. The sale is part of a Petrobras effort to offload $21 billion in assets amid heavy debts and a corruption scandal. Vitol, it continued, offered a prompt cargo of Forcados in the window at dated Brent plus $5. -based oil trader for Brazil's Petrobras already charged in his home country with taking part in a corruption scheme involving commodity. Brazil's Justice Minister Sergio Moro, once a judge who oversaw a massive and successful anti-corruption operation, is accused of improperly directing prosecutors in a case against a former president. Vitol was contacted in September 2018 by Global Witness and has since liaised extensively with it. v Asian Natural Resources 9India) Ltd. Oil trading firms with ties to UK named in Brazil's Car Wash corruption scandal This article is more than 11 months old Vitol, Glencore and Trafigura feature in report by campaign group Global Witness. (Reporting by Brenna Hughes Neghaiwi, editing by John Revill and. Abdullah Qardash, new ISIS leader. Vitol has reportedly so far declined to comment on these developments. The prosecutor-led appeal against a decision in which double jeopardy protections were extended to companies facing trial in France has begun in the Paris Court of Appeals. Ram Sunkara serves on the Eversheds Sutherland (US) Executive Committee and focuses his practice on negotiating and finalizing acquisition and disposition agreements, structuring transactions and auction processes, and managing all aspects of a deal. CPD Wallet Login. Ghana News, News in Ghana, latest in ghana, Business in Ghana, Entertainment in Ghana , Top Stories, Headlines in Ghana, Politics in Ghana, Elections in Ghana, Sports. Brazil haslaunched an investigation into whether accounts included in the files are linked to a major corruption scandal which in recent months has engulfed the Brazilian government and state-owned oil company Petrobras. It was the latest turn in a years-long corruption scandal—so-called Lava Jato, or Carwash—that has crippled two former presidents and permeated right to the heart of Petrobras. Companies / Mining. Petroleo Brasileiro SA, which owns 13 out of the 16 refineries in the. But graft allegations lodged by prosecutors last week against four of the world's largest oil trading companies - Vitol SA, Trafigura, Glencore. Brazil continues to collaborate with American and European prosecutors in all of their multinational money-laundering cases and is starting to take a stricter approach against systematic corruption. World's biggest oil traders paid bribes in Brazil scandal The latest Car Wash chapter could undermine Petrobras' deals and ability to embark on privatisation plans that far-right president-elect Jair Bolsonaro's economic team wants to carry out. Major Commodity Traders Investigated in Brazilian Corruption Probe. “At the end of the day, it was a non-core business for Vitol, so they walked away,” one source said. UL], Glencore PLC and Mercuria Energy. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. -based oil trader for Petrobras (PBR -2. bank to allow him to take back a key stake in the bank's controlling partnership after he. A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group , Glencore and other major oil trading firms has been arrested in.