Rolls-Royce pays $25 million to Petrobras in bribery settlement

Brazilian oil giant Petrobras has received R$81 million as part of Rolls-Royce’s settlement with the Brazilian authorities related to the Lava Jato bribery scandal.

Petrobras said on Monday that it received the R$81 million ($24.7M) settlement from the British company last Friday, October 27.

According to multiple sources, Rolls-Royce entered into settlements with authorities in the UK, the USA, and Brazil over bribery allegations back in January. At the time, the total settlement with all parties stood at a figure of around £671 million ($813 million).

Breaking it down, around $170 million went to the U.S. Department of Justice, $25 million to Brazil’s Ministério Público Federal (MPF), and over $600 million to Britain’s Serious Fraud Office.

Petrobras added on Monday that the UK engineering giant entered into a settlement agreement with the MPF under Operation Lava Jato (Operation Car Wash) to receive leniency.

The agreement with Rolls-Royce includes the return of the company’s net profit on six contracts for the supply of goods and services to Petrobras. It also includes the full amount paid as commission to subcontractors and the payment of a fine in accordance with the law.

The Brazilian company received another R$5.8 million from two other settlements. Namely, R$1.7 million was returned by former director Nestor Cerveró and R$4.1 million by the former president of Transpetro, Sérgio Machado.

Since the beginning of Operation Lava Jato, total reimbursement exceeds R$800 million ($244.6M).

Petrobras also said that it would continue to take legal action against companies and individuals, including former employees and politicians, who caused the company financial damage and tainted the company’s image.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

INTERNATIONAL PETROLEUM WEEK 2019

International Petroleum (IP) Week is a renowned and respected fixture in the annual calendar…

read more >

Mauritanides 2018

Mauritanides (11-13 Dec 2018) is the foremost and largest event for companies seeking to invest in the Mining…

read more >

LNG Bunkering Summit 2019

LNG Bunkering Summit will cover the obstacles facing both the shipping and port communities…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply