Reuters | Sep 06, 2019 00:31
By Gram Slattery and Ricardo Brito
RIO DE JANEIRO/BRASILIA (Reuters) - The chief executive of a natural gas pipeline unit of Brazilian state oil firm Petrobras (SA:PETR4) has been removed, the company told Reuters on Thursday, after a middleman in a graft scheme implicated him in plea bargain testimony.
The board of Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which operates a major natural gas pipeline between Bolivia and Brazil, approved the removal of Ivan de Sá on Wednesday at the request of Petrobras, its majority shareholder, TBG said.
Sá's removal came after Reuters asked TBG and parent firm Petrobras on Tuesday about the previously unreported plea bargain testimony. TBG did not give a reason for Sá's dismissal.
In court documents, a middleman alleged that Sá helped coordinate a scheme in which Petrobras employees accepted bribes from commodity trading giant Vitol.
In a statement sent through TBG's press office, Sá strenuously denied the allegations. Vitol has said it has a zero tolerance policy towards corruption and was fully cooperating with authorities.
Petrobras said it had immediately begun internal inquiries after learning about the plea bargain testimony and had removed employees named in the testimony from their positions.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.