Read More

Keppel submits lowest bid for Brazil’s Petrobras platform: Sources

RIO DE JANEIRO (REUTERS) - A consortia led by Singapore's Keppel Shipyard offered Brazil's Petrobras the lowest price to build a floating platform for Buzios, Latin America's second-largest oil field, three people close to the competition said. Keppel offered to build P-78, a 180,000-barrels-per-day production unit that Petrobras plans for its deepwater Buzios field, for 12.52 billion reais (S$3.12 billion), the sources said, asking not to be named as the information is confidential. A winner has not been selected and the result is unclear, the sources said. Petroleo Brasileiro, as Brazil's state-controlled producer is known, declined to comment. Keppel did not immediately respond to requests for comment. The Singapore shipyard, which partnered with Hyundai Heavy Industries Holding and Brazil-based BrasFELS shipyard for the bid, beat two Asian competitors, sources said. A consortia led by Daewoo Shipbuilding & Marine Engineering offered to build the P-78 platform for 14.11 billion reais. Samsung Heavy Industries placed the highest bid, 15.15 billion reais, the people said. The competition marks Petrobras' comeback as a key customer for Asian shipyards, since Petrobras decided to re...

Read More

Brazil police expand Car Wash probe to Petrobras trades of diesel, jet fuel in Asia and Europe

RIO DE JANEIRO (REUTERS) - Brazilian police expanded a long-running corruption probe at state-controlled oil company Petroleo Brasileiro or Petrobras based in part on secret recordings made by a former executive of Swiss trading firm Vitol, according to court documents released on Tuesday (Oct 20). Police on Tuesday served warrants seeking documents from six people and two companies as part of what is known as the Car Wash investigation into bribery to win contracts to buy and resell Petrobras fuel. Prosecutors have alleged at least 12 million reais (S$2.9 million) were paid between 2005 and 2015 to Petrobras employees working in Houston, London and Singapore. Tuesday's probe expands the reach of authorities' investigations from oil and bunker fuel trades at Petrobras's offices in Houston and Rio de Janeiro to diesel and jet fuel there and in Europe and Asia. Petrobras said in an e-mailed response it only learned of Tuesday's warrants after the police operation was made public. Petrobras said it was a victim of corrupt employees and that it has cooperated with authorities, providing information that led to the search warrants. The search warrants were approved based in part on tape...