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U.S. authorities have joined Brazil’s investigation into alleged bribery involving Petrobras and some of the world’s largest trading companies, according to the Brazilian law enforcement officer in charge of the probe. The U.S. Justice Department and Federal Bureau of Investigation have also started working on the investigation, first announced by Brazilian authorities in December, that includes trading
LONDON (Bloomberg) — The crude market had its worst quarter in four years but you wouldn’t be able to tell by looking at Big Oil’s stellar earnings numbers. The world’s five largest publicly traded oil companies exceeded analyst expectations, in some cases obliterating them. The result lends credibility to what they’ve been saying: that they’ve been
LONDON (Bloomberg) — Given oil’s plummet at the end of last year, OPEC’s strategy to stabilize the market might look a bust. But where it matters most for the cartel’s members — petroleum revenues — it’s still a winner. Crude prices in London have sunk back to the same range when the group began production