Samsung, One of the Largest Ship Manufacturers in the World, Compensates Petrobras 797 Million Reais for Bribes Related to Operation Car Wash

Written by Flavia Marinho

Published on 01/03/2021 at 12:34

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Samsung Shipyard Confessed to Justice That It Paid About US$ 20 Million (R$ 83 Million at the Time) in Bribes to a Brazilian Intermediary

Petrobras announced this morning (03/01) that it received, last week, approximately R$ 360 million (US$ 65 million) due to a leniency agreement signed by Samsung Heavy Industries, one of the largest shipbuilders in the world.

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According to the Brazilian oil company, these funds are related to the first installment of the agreement with Samsung, totaling R$ 705.9 million that will be allocated for the reimbursement of Petrobras.

These reimbursements stem from Petrobras’s status as a victim in the crimes investigated within the scope of Operation Car Wash.

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The Samsung shipyard, one of the largest shipbuilders in the world, confessed to the American justice that it paid, between 2007 and 2013, about US$ 20 million (R$ 83 million at the time) in commissions to a Brazilian intermediary. The company admitted to knowing that part of this money was bribes to Petrobras employees to secure advantages in business dealings with the company.

Petrobras Recovers R$ 5.3 Billion in Reimbursement of Amounts Related to Operation Car Wash, of Which R$ 797 Million Is from Samsung Shipyard

“With these amounts, Petrobras surpasses the significant mark of R$ 5.3 billion in resources recovered through collaboration agreements, leniency, and repatriations. Last year alone, for example, the company received R$ 797 million in reimbursement of amounts related to Operation Car Wash”, said the state-owned company in the statement.

The company will continue to take appropriate measures in pursuit of adequate reimbursement for the losses it has incurred.

About the Operation

Petrobras operates as a coauthor with the Federal Public Ministry and the Union in 21 ongoing administrative improbity actions, in addition to being an assistant in 76 criminal actions related to illicit acts investigated by Operation Car Wash.

Launched in 2014, Operation Car Wash exposed a massive corruption scheme involving public companies like Petrobras, implicating dozens of high-ranking political and economic officials, and leading to the imprisonment of many of them, including former Brazilian President Luiz Inácio Lula da Silva, who is currently on parole.

However, the main core (Car Wash in Paraná) ceased to exist at the beginning of the month, becoming part of another crime-fighting group (Gaeco).

Samsung, One of the Largest Ship Manufacturers in the World, Compensates Petrobras 797 Million Reais for Bribes Related to Operation Car Wash

Samsung Shipyard Confessed to Justice That It Paid About US$ 20 Million (R$ 83 Million at the Time) in Bribes to a Brazilian Intermediary

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Petrobras Recovers R$ 5.3 Billion in Reimbursement of Amounts Related to Operation Car Wash, of Which R$ 797 Million Is from Samsung Shipyard

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Samsung, One of the Largest Ship Manufacturers in the World, Compensates Petrobras 797 Million Reais for Bribes Related to Operation Car Wash

Samsung Shipyard Confessed to Justice That It Paid About US$ 20 Million (R$ 83 Million at the Time) in Bribes to a Brazilian Intermediary

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Petrobras Recovers R$ 5.3 Billion in Reimbursement of Amounts Related to Operation Car Wash, of Which R$ 797 Million Is from Samsung Shipyard

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Diagnostic test

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

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With 241 meters, 48 thousand tons, and a structure designed to accompany aircraft carriers at sea, the Chinese ship that refuels fleets in motion was born to push Beijing away from the coast and has become the hidden gear of its naval projection.