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kenrsmith2003 1 post  |  Last Activity: Sep 24, 2015 3:48 PM Member since: Jan 23, 2004
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  • kenrsmith2003 by kenrsmith2003 Sep 24, 2015 3:48 PM Flag

    (Updated - September 24, 2015 3:45 PM EDT)

    Transocean (NYSE: RIG) was linked to a corruption probe at Petrobras (NYSE: PBR), according to Bloomberg. The report says a former executive at Petrobras, Eduardo Musa, testified to receiving payments made by someone claiming to be a Transocean agent in exchange for a rig-operation contract.

    Transocean told Bloomberg it has a long-standing commitment to and upholds the highest standards for corporate ethics and compliance.

    As a result of the so-called Carwash probe, Petrobras has temporarily blocked more than 20 suppliers from future work.