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 Exchange Considers Amending Methodology for Middle East Benchmarks

Baltic Exchange Considers Amending Methodology for Middle East Benchmarks

Trucker Strike Continues to Paralyze Grain Exports at Argentinian Ports

Trucker Strike Continues to Paralyze Grain Exports at Argentinian Ports

Corn Belt Ports Maritime Consortium Launches to Fill Regional Gap

Corn Belt Ports Maritime Consortium Launches to Fill Regional Gap

Ammonia Fuel Sales Plan Advances in Singapore

Ammonia Fuel Sales Plan Advances in Singapore

Subscribe for Maritime Logistics Professional E‑News

Heathrow Airport expansion to be allowed by UK aviation regulator
Data shows that shipping traffic through Hormuz is virtually at a standstill.
Kremlin hopes Iran talks will continue for the benefit of Gulf economies and the global economy