Keppel May Get Sucked Into Petrobras Bribery Scandal
SINGAPORE, Oct 23 (Reuters) – Singapore oil rig builder Keppel Corporation Ltd stated it might face an investigation into offers with Brazilian state-run oil firm Petrobras and rig builder Sete Brasil.
A Brazilian parliamentary fee of inquiry backed additional investigations into 10 firms it recognized as concerned in transactions with Petrobras and Sete, together with the Singaporean firm’s Keppel FELS Brasil unit, Keppel stated in an announcement.
The investigations comply with allegations by a former engineering supervisor at Petrobras, which is caught up in a large procurement corruption scandal that has contributed to efforts to question Brazilian President Dilma Rousseff.
Keppel FELS and its community of offshore yards are one of many world’s largest makers of offshore jackup rigs.
The agency rejected in February any involvement within the bribery scandal. Keppel stated then it had a contract with an agent named within the scandal in Brazil, however stated its official had been banned from accepting bribes.
Keppel’s cross-town rival Sembcorp Marine Ltd additionally stated in February it wasn’t concerned within the Brazil scandal. Sembcorp didn’t instantly reply to a request for touch upon Friday.
Shares in Keppel and Sembcorp, which each reported weak quarterly outcomes on Thursday amid an oil glut, slipped in early buying and selling on Friday.
Sembcorp shares fell 4 p.c whereas Keppel was 0.8 p.c decrease by 0205 GMT. The benchmark index was up 0.8 p.c.
Keppel stated in its assertion, issued late on Thursday, that it could lengthen full cooperation to investigators if approached and had zero tolerance in opposition to any type of criminality, together with bribery and corruption. The firm declined additional remark.
(Reporting by Aradhana Aravindan; Writing by Rodney Joyce; Editing by Kenneth Maxwell)
(c) Copyright Thomson Reuters 2015.
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