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

ADNOC LNG Tanker Crosses Strait of Hormuz

ADNOC LNG Tanker Crosses Strait of Hormuz

Trump Grants 90-day Extension to Jones Act Waiver

Trump Grants 90-day Extension to Jones Act Waiver

Raw Sugar Futures Falls After Two-Week High Alongside Coffee, Cocoa

Raw Sugar Futures Falls After Two-Week High Alongside Coffee, Cocoa

US Corn, Wheat, Soy Futures Rise Alongside Crude Oil

US Corn, Wheat, Soy Futures Rise Alongside Crude Oil

Subscribe for Maritime Logistics Professional E‑News

JetBlue Airways' return to profitability may be affected by the Spirit bailout and its large fuel bill
Airline cancels flights due to Middle East conflict
Finnair gains from SAS withdrawal and Middle East disruption