Petrobras subsidiaries being sued by investors in the Netherlands

Petrobras subsidiaries being sued by investors in the Netherlands

Brazil’s state-owned oil giant Petrobras says two of its subsidiaries are being sued by investors in the Netherlands, according to Reuters.

The claims are similar to ones brought by investors in the US last year in that the investors seek recompense for losses they say are related to the huge bribes-for-inflated-contracts scandal that has blackened Petrobras’ name and roiled Brazil’s economy, society and political sphere.

These Dutch suits came to light in a securities filing.

Petrobras, which has huge offshore E&P interests, claims it was a victim in the bribery scheme, although individual company officials were participants.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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