(Sept 6): Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which operates a 1,610-mile pipeline transporting natural gas from Bolivia to Brazil, said its board approved the removal of Ivan de Sá on Wednesday at the request of Petrobras, its majority shareholder.
TBG did not state the reason for his removal, nor offer any further details.
Reuters had asked TBG and parent firm Petrobras on Tuesday about the previously unreported plea bargain testimony. In the testimony, reviewed by Reuters, a middleman said that Sá helped coordinate a scheme in which Petrobras employees purportedly accepted bribes from commodity trading firm Vitol in return for cut-price oil contracts.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)