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

Stena Line and ABP Start Work on Immingham Terminal

Stena Line and ABP Start Work on Immingham Terminal

Carney Changes Climate Requirements in Energy Deal with Alberta

Carney Changes Climate Requirements in Energy Deal with Alberta

Russian Oil Cargo Discharge at Indian Port Delayed Due to Insurance Scrutiny

Russian Oil Cargo Discharge at Indian Port Delayed Due to Insurance Scrutiny

The Expanding Shadow Fleet Poses a Growing Threat to Maritime Safety

The Expanding Shadow Fleet Poses a Growing Threat to Maritime Safety

Subscribe for Maritime Logistics Professional E‑News

Sweden launches new tender for winter power supply
Trafigura claims Gupta stole money from metals fraud to fund his distressed companies
As risk appetite declines, crypto hoarding is under pressure.