Brazil graft probe may ensnare electric utility
Prosecutor says more than a dozen foreign companies could also be charged in an investigation that is likely to continue for at least another 2 years
Curitiba, Brazil
BRAZIL'S biggest corruption investigation could spread to its largest electric utility, Eletrobras, and more than a dozen foreign companies, a lead prosecutor said on Tuesday, in a sign of further turbulence for the country's business and political establishment.
Carlos Fernando dos Santos Lima said that a scheme similar to one set up at state-run oil firm Petrobras may have operated at Eletrobras, specifically on major projects such as nuclear reactor Angra 3 and the US$13 billion Belo Monte hydroelectric dam in the Amazon.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Oil falls more than US$1/barrel on Middle East peace talks, US rate cut doubts