Well, fancy that:

The initial report of a Brazilian congressional investigation into corruption at state-run Petrobras concluded late Monday that the company and politicians did no wrong, and that suppliers and rogue employees were responsible for graft, according to a report.

Thank heavens for that!  When the CEO and senior executives of Petrobras resigned in February, I pessimistically thought Brazil had sunk into the mire of corruption and graft that seems to plague South American countries in perpetuity.

But it turns out everything was all right after all, it was just a handful of rogue employees who handled the $800m in bribes and illegal funds that the police had uncovered.  And I’m delighted that Brazil’s politicians have been shown to have done no wrong in this whole sordid affair, that would have done untold damage to the country’s image, especially as:

Brazil’s President Dilma Rousseff was chairwoman of the board of Petrobras during much of the time when the corruption scheme was operating.

Alas, it was the suppliers.  As is always the case when something goes terribly wrong for an oil company, the contractors are to blame.  I hope now that Petrobras will implement a robust pre-qualification procedure to weed out unscrupulous suppliers and provide online training to dissuade any more employees from going rogue.  It is important they put this behind them and move on, lessons having been learned.

“Nothing to see here…”


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