Odebrecht's trail of destruction
The builder's region-wide corruption scheme has endangered energy projects across Latin America, none more important that Peru's Southern Gas Pipeline
The fallout from Brazil's Lava Jato (Carwash) corruption scandal is spilling out across Latin America. The Brazilian builder Odebrecht, whose fall from national corporate champion to national disgrace has been swift and spectacular, admitted in December as part of a $3.5bn plea deal with the US government to systematically bribing officials to win business across 12 countries, mostly in Latin America. The US alleges that the company, along with Brazil's Braskem, paid $0.788bn in bribes to win more than 100 contracts, mostly for public works and infrastructure. It was the biggest settlement ever under the US' Foreign Corrupt Practices Act. Odebrecht, according to the suit, essentially exporte
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind