Petrobras to Receive about $200 Mln from Corruption Repayments

December 5, 2017

World Energy Reports LLC.
Brazilian state oil company Petroleo Brasileiro SA will receive about 650 million reais ($201 million) in funds recovered from the country's largest-ever corruption investigation, known as Car Wash, the federal prosecutors office for the state of Paraná said on Tuesday.
The amount, which is set to be formally delivered at an event in the city of Curitiba on Thursday, will be the largest remuneration payment resulting from a corruption investigation in Brazil's history, prosecutors said.
Since 2015, Petrobras, as the company is commonly known, has received 800 million reais in recovered funds, and the Thursday payout will bring that total to 1.45 billion reais.
The Car Wash investigation, which revolves around kickback payments for Petrobras contracts, has rocked Brazil's political and business establishment, resulting in hundreds of arrests, that include billionaires who own some of the largest Brazilian companies.

($1 = 3.24 reais)

(Reporting by Marta Nogueira; Writing by Gram Slattery; editing by Diane Craft)

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