Odebrecht's trail of destruction
The builder's region-wide corruption scheme has endangered energy projects across Latin America, none more important that Peru's Southern Gas Pipeline
The fallout from Brazil's Lava Jato (Carwash) corruption scandal is spilling out across Latin America. The Brazilian builder Odebrecht, whose fall from national corporate champion to national disgrace has been swift and spectacular, admitted in December as part of a $3.5bn plea deal with the US government to systematically bribing officials to win business across 12 countries, mostly in Latin America. The US alleges that the company, along with Brazil's Braskem, paid $0.788bn in bribes to win more than 100 contracts, mostly for public works and infrastructure. It was the biggest settlement ever under the US' Foreign Corrupt Practices Act. Odebrecht, according to the suit, essentially exporte
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
