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The Call of the “Club of 16” Is Under Investigation by Cade for Corruption and May Face Punishments for Cartel Development in the Oil and Natural Gas Market. Petrobras Is Now Having Its Bids Reviewed by the Agency for the Verification of Its Compliance.
The Administrative Tribunal of the Administrative Council for Economic Defense (SG/Cade) is analyzing possible cases of corruption in Petrobras’ bids. The company has been accused of developing a cartel in the oil and natural gas market in recent years. Thus, a group of 16 companies is said to be benefiting from the state-owned company’s bids in national exploration and production projects and works.
Cade Investigates Data and Reports of Petrobras’ Cartel Formation for the National Market and Will Rule on Issues in the Company’s Bids
The oil and natural gas market has not been calm within the national territory in recent days. This is because Petrobras, the largest company in the sector, is being accused of cartel formation in its bids.
The Administrative Tribunal of Cade was called for the analysis and adjudication of the state’s latest projects in the field and is now looking for irregularities in the system. Thus, the agency will rule on a cartel case in the engineering, construction, and industrial assembly services market within the state company’s bids, on a date that has yet to be defined or announced.
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The case was presented to the agency at the beginning of this week, already on Monday, and is now undergoing new deliberation processes and fact-finding to proceed in court.
Furthermore, Cade has been investigating the formation of a cartel among companies participating in Petrobras’ bids since 2015, gathering the main establishments in the engineering, construction, and industrial assembly services market connected to the state-owned company from 1999 to 2014.
The companies operated in the company’s bids through market division in refinery works, new ventures, exploration, and production of fuels in the national territory.
Longstanding Investigation of Cartel Among Companies Participating in the State-Owned Company’s Bids Concluded in Agreement with Cade
The investigation since 2015 of the allegations of cartel formation in Petrobras’ bids was highly praised in the national oil and gas market by Cade, which achieved good results.
The agency gathered evidence from the celebration of a Leniency Agreement and six Commitment Terms to Cessation (TCCs) from the parties, in addition to securing the payment of over R$ 670 million in monetary contributions.
Within the investigations in the national market, six companies and 27 individuals who collaborated with the information and process development were summoned.
The main accusation in the Petrobras cartel formation process among the companies participating in the bids was the establishment of agreements among competitors for price fixing, conditions, advantages, and abstention from participation.
As such, there was a development of an increasingly controlled market by the major oil and natural gas companies, directly impacting the final consumer.
Petrobras’ Cartel Became Known as the “Club of 16” and the State-Owned Company Is Once Again Targeted for Corruption and Possible Punishments by Cade
The group formed by the state-owned company’s bidding companies had as many as 16 organizations and became known as the “Club of 16” during the sector investigations. However, the allegations point to at least 46 contracting processes involving many other organizations within Petrobras.
Thus, Cade’s superintendency is seeking the conviction of 13 companies and 30 individuals involved in the anticompetitive conduct. Now, the state-owned company is the primary target of the agency in the sector and may face serious punishments in the coming months.
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