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A major corruption scandal may hit efforts to privatize Petrobras

.A major corruption scandal may hit efforts to privatize Petrobras. “Leading global oil traders Vitol, Trafigura and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said. (…) The latest Car Wash chapter could undermine Petrobras' deals and ability to embark on privatization plans that far-right President-elect Jair Bolsonaro's economic team wants to carry out. Petrobras said a month ago it is selling its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by Vitol for $1.53 billion as the state-controlled oil company reduces debt. The deal has not yet closed and it was unclear how [the scandal] may affect it.”

Source: U.S.

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