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

By the Numbers: Container Fleet Capacity to Top 34 Million TEU

By the Numbers: Container Fleet Capacity to Top 34 Million TEU

Floating Titanium Lattice Could Out-Perform Steel and Plastic

Floating Titanium Lattice Could Out-Perform Steel and Plastic

Nuclear Power Considered for Transatlantic Container Route

Nuclear Power Considered for Transatlantic Container Route

Oceanbird to Install Wing Sails on M/V Way Forward

Oceanbird to Install Wing Sails on M/V Way Forward

Subscribe for Maritime Logistics Professional E‑News

Hong Kong court refuses to allow Evergrande founder's funds to be used for legal fees
How are the search and rescue operations in Nepal progressing a week following a deadly flash flood?
Uber leaves Nigeria after 12 years in operation