Swiss, Brazil Try to Unravel Petrobras Affair

April 9, 2019

World Energy Reports LLC.
AdobeStock_970776.jpeg

Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.

Switzerland has so far returned roughly 365 million Swiss francs ($365.6 million) to Brazil related to Petrobras and construction firm Odebrecht, the Swiss Office of the Attorney General (OAG) said on Tuesday, including 9 million francs in March.

Around 70 related criminal proceedings are under way in Switzerland, two of which are scrutinizing Swiss financial groups, the OAG said after Swiss Attorney General Michael Lauber and Brazilian Prosecutor General Raquel Dodge met in Brasilia on Monday.

"The two counterparts signed a joint declaration reaffirming their commitment to continue and intensify their cooperation," the OAG said in a statement.

More than 130 businessmen and politicians have been convicted in Brazil in the case, focused on political kickbacks and money laundering at Petrobras and Odebrecht. Ex-Brazilian President Luiz Inacio Lula da Silva is serving a 12-year prison sentence.

Around 15 criminal cases opened in Switzerland have been passed along to authorities in Brazil. The probe has also swept up leading global commodity traders based in Switzerland. The Swiss are assisting Brazilian prosecutors investigating alleged bribery and corruption links to Vitol, Trafigura and Glencore.


($1 = 0.9982 Swiss francs)

(Reporting by Brenna Hughes Neghaiwi, editing by John Revill and John Miller)

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
  • Online database -- The online database is updated every day – with information direct from primary sources. In the database are details for 240 planned projects, 370 installations in service, 70+ floaters on order and 20+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request Free Trial