Petrobras To Review Golar’s Participation In Terminal

(Reuters, 28.Sep.2020) — Brazilian oil producer Petroleo Brasileiro SA said it will review liquefied natural gas (LNG) company Golar Power’s participation in an ongoing tender to lease an import terminal of the super-chilled natural gas in Bahia state.

Petrobras, as the Rio de Janeiro-based company is known, said in a statement it will review Golar’s integrity analysis, a report applied to all of the company’ suppliers. Suppliers deemed to have a high level of integrity risk cannot do business with the state-controlled producer.

Golar Power, a joint venture of Golar LNG and U.S. private equity firm Stonepeak Infrastructure Partners, did not immediately respond to an emailed request for comment sent after office hours.

The review comes as a Golar group executive was cited in the early stages of the latest phase of Brazil’s six-year corruption investigation known as the Car Wash probe, Petrobras said. Allegations against the executive, Golar Power’s CEO Eduardo Antonello, are based on testimonies from confessed criminals in plea bargains. No charges have been pressed.

Petrobras said it also requested information from its former subsidiary and fuel distribution company Petrobras Distribuidora SA on its current partnership with Golar Power for LNG distribution.


Reporting by Sabrina Valle; Editing by Muralikumar Anantharaman