Petrobras Executive Extends Leave Amid Investigation

December 5, 2014

Brazil's state-run oil company Petroleo Brasileiro SA extended a leave of absence for the head of its tanker and pipeline unit, Transpetro, for 30 more days according to a filing on Friday.

Transpetro President Sergio Machado stepped down temporarily on November 3 as police investigated a corruption scandal at the company that has delayed the release of audited earnings, implicated an array of major contractors and threatened to ensnare dozens of politicians.

(Reporting by Brad Haynes and Alberto Alerigi Jr.; Editing by Chizu Nomiyama, Reuters)

Logistics News

Vice Admiral Bob Sharp Appointed as Windward Chief Maritime Intelligence Officer

Vice Admiral Bob Sharp Appointed as Windward Chief Maritime Intelligence Officer

Paris MoU Tackles Fraudulent Certificates

Paris MoU Tackles Fraudulent Certificates

BHP and GCMD Trial B100 Blend in Existing Supply Chain

BHP and GCMD Trial B100 Blend in Existing Supply Chain

Lakes U.S. Limestone Trade Down in May

Lakes U.S. Limestone Trade Down in May

Subscribe for Maritime Logistics Professional E‑News

India approves $1 Billion Fund to Help Airlines Weather Fuel Cost Surge
Ukraine's railways must raise tariffs after Russian attacks to restore finances
Portugal General Strike over Labour Reform halts Trains, Flights, and Shuts Schools