Petrobras revokes gas contract with J&F unit over corruption
6/8/2017
SAO PAULO (Reuters) — State-controlled oil company Petróleo Brasileiro SA revoked on Thursday a contract to supply natural gas to a thermal power station held by a unit of holding company J&F Investimentos due to a breach of anticorruption terms.
J&F is owned by the Batista family, who are at the center of a corruption scandal threatening President Michel Temer. Petrobras, as the oil company is known, will charge the so-called Âmbar SA unit $21.4 MM in amends over the contract breach, according to a securities filing.
Reporting by Luciano Costa and Bruno Federowski; Writing by Bruno Federowski; Editing by Chizu Nomiyama
Sign up to Receive Our Newsletter
- ADNOC Gas awards $2.1 B in contracts to enhance LNG supply infrastructure
- U.S. Department of the Treasury releases final rules for clean hydrogen production tax credit
- Topsoe, Aramco sign JDA to advance low-carbon hydrogen solutions using eREACT™
- Nicor Gas celebrates its first renewable natural gas interconnection
- Phillips 66 outlines nearly $3-B capital program for 2025
Comments