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LatinNews Regional Monitor: Brazil & Southern Cone - 7 February 2018

In brief: Brazil

* Brazil’s state-owned oil company Petrobras will begin selling the Pasadena refinery in Texas, through its US subsidiary, as part of its asset-divestment plan. The refinery has been targeted by multiple corruption probes in Brazil following allegations that Petrobras executives received bribes to purchase the facility in 2006, implicating the government led by former president Dilma Rousseff (2011-2016). Prosecutors suspect the value of the refinery was inflated after Petrobras paid US$360m for half of the refinery that year, more than double the value of the previous owner. Questioned by the accounts court (TCU) in 2014, Rousseff said she had incomplete knowledge about the purchase.

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