marine link image
Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

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

Baltic Index Hits Third Weekly Loss As Capesize Rates Remain Weak

Baltic Index Hits Third Weekly Loss As Capesize Rates Remain Weak

European Wheat Falls Alongside Shifts in the Euro, Russian Exports

European Wheat Falls Alongside Shifts in the Euro, Russian Exports

Oil Supertanker Rates Drop After Record Highs

Oil Supertanker Rates Drop After Record Highs

DP World Busan Deploys Electric Yard Tractors

DP World Busan Deploys Electric Yard Tractors

Subscribe for Maritime Logistics Professional E‑News

Alaska LNG savings justify billions of investment, developer claims
Manishi Raymondchaudhuri: The thaw in the Sino-Indian relationship will be a major test for economic growth
Maricarmen Abascal has died. She was the evicted Spanish 80-year-old who was at the heart of Spain’s housing protests.