Petrobras revokes gas contract with J&F unit over corruption
6/8/2017
SAO PAULO (Reuters) — State-controlled oil company Petróleo Brasileiro SA revoked on Thursday a contract to supply natural gas to a thermal power station held by a unit of holding company J&F Investimentos due to a breach of anticorruption terms.
J&F is owned by the Batista family, who are at the center of a corruption scandal threatening President Michel Temer. Petrobras, as the oil company is known, will charge the so-called Âmbar SA unit $21.4 MM in amends over the contract breach, according to a securities filing.
Reporting by Luciano Costa and Bruno Federowski; Writing by Bruno Federowski; Editing by Chizu Nomiyama
Sign up to Receive Our Newsletter
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- RWE strengthens partnerships with ADNOC and Masdar to enhance energy security in Germany and Europe
- Five energy market trends to track in 2026, the year of the glut
- Venture Global wins LNG arbitration case brought by Spain's Repsol
Comments