Vitol, Glencore, Trafigura and the Petrobras scandal

Summary: This comprehensive report outlines how Vitol, Glencore, and Trafigura engaged in systematic bribery to win oil contracts from Petrobras, Brazil’s state oil giant, between 2003 and 2014. Trafigura admitted to paying bribes totaling over $100 million using shell companies, intermediaries, and falsified invoices—earning $61 million in illicit profits. The company reached a $127 million settlement with U.S. authorities in 2024. Vitol and Glencore also faced massive fines for similar offenses across multiple countries, including Ecuador, Mexico, and several African nations. The report highlights a lack of sector-specific oversight, failures in corporate reporting, and the use of secrecy structures that concealed corrupt activities for years. Legal proceedings continue in Brazil and other jurisdictions​.

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Source: Public Eye