Brazilian Car Wash Operation: Petrobras Case
Article from: TDM 6 (2020), in State-Controlled Entities
The purpose of this paper is to examine the case of Petróleo Brasileiro S.A. (Petroleum of Brazil -Petrobras); the largest mixed capital Brazilian company. Founded in 1953, the company is currently the focus of major corruption investigations in the so-called Car Wash Operation. The severe crisis caused by the systemic corruption that affected Petrobras has created a domino effect within the whole oil and gas extraction and production chain in Brazil, leading to a contagion effect throughout the Brazilian economy. To illustrate the systemic corruption developed in Petrobras during the ...