Three Brazilian prosecutors are saying that bribes were paid in the Petrobas Texas refinery deal. Brazilian police and prosecutors are investigating corruption, and they have evidence that bribes were paid as part of the state-run oil company’s $1.2 billion purchase of Pasadena Refining Systems Inc in 2006.
A federal prosecutor said Monday that bribes related to the refinery deal may lead to the cancellation of the purchase. This announcement was in relation to a nearly 20-month probe related to Petrobas.
Petrobas paid $360 million to purchase half of Pasadena Refining in 2006, which was more than eight times what Astra paid for the entire refinery one year earlier.
The investigation regarding the Pasadena refinery is ongoing.
Source: Reuters.com, “3-Brazil prosecutors say bribes paid in Petrobas Texas refinery deal,” by Sergio Spagnuolo, November 16, 2015