Petrobras turns page as corruption saga draws to a close
An SEC fine as part of the firm’s long-running corruption scandal looks the least-worst outcome and may mark the beginning of the end of its international headaches
American financial watchdog the Securities and Exchange Commission (SEC) has hit Brazil's Petrobras with fines in the wake of its much-publicised corruption scandal. But the penalty may allow the firm—outside Brazil at least—to finally see an end in sight to its woes. In a forensic report into over a decade of bribery, rigged bids and false financial statements involving senior executives, members of government, major suppliers and contractors, the SEC concluded that individuals employed by the state-owned giant systematically misled investors at heavy cost to the company. The report, released in late September, also paints a picture of a lax organisation with weak internal accounting contro
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
