Petróleo Brasileiro S.A. - Petrobras

In September 2018 Petrobras entered a non-prosecution agreement with the US Justice Department and settled with the SEC, with penalties of US$853.2 million split mostly to Brazil^S1^S2^S5. The department said senior executives facilitated bribes to Brazilian politicians and parties and concealed them in the books^S1. The SEC said false financial statements concealed a bribery and bid-rigging scheme^S2. In January 2018 Petrobras agreed to pay US$2.95 billion to settle the US class action, stating no admission of wrongdoing^S3. In September 2023 a Brazilian Supreme Court justice annulled evidence from Odebrecht's 2016 leniency agreement for Lava Jato cases^S4. Prosecutors' appeals against it were still undecided when last reported in May 2024^S6.

Also known as: Petrobras, Petroleo Brasileiro S.A.
Headquarters: Brazil
Records from: United States, Brazil
Current status: Operating state-controlled oil company. It resolved US criminal and SEC matters over the Lava Jato scheme in September 2018 through a non-prosecution agreement and an SEC settlement^S1^S2. It agreed in January 2018 to pay US$2.95 billion to settle the US class action^S3.

Scope. This record covers Petrobras as a company in the Lava Jato matters. It does not assess individual politicians or contractors, and Odebrecht's own resolutions are covered under Odebrecht.

Claims assessed

4 claims. Scores grade the evidence for each claim, not the organization.

Supported88
The US Justice Department said in September 2018 that Petrobras executives facilitated hundreds of millions of dollars in bribes to Brazilian politicians and parties and concealed them in the company's books.
Regulator statement, 27 September 20185 records citedBribery
Partly supported79
Petrobras said in January 2018 that it was a victim of the Lava Jato scheme.
Company statement, 3 January 20185 records citedBribery
Supported75
Petrobras agreed in January 2018 to pay US$2.95 billion to settle the US securities class action without admitting wrongdoing.
Company statement, 3 January 20182 records citedDisclosure
Unresolved49
Poder360 reported in September 2023 that Brazilian Supreme Court Justice Dias Toffoli annulled all evidence from Odebrecht's 2016 leniency agreement used in Lava Jato accusations and convictions.
Press report, 6 September 20233 records citedBribery

Cases and proceedings

United States and Petróleo Brasileiro S.A. - PetrobrasUS Department of Justice, Criminal Division, Fraud Section. Criminal. Not stated in the sources read.Stage: Non-prosecution agreement
- 27 September 2018 Non-prosecution agreement with US$853.2 million in penalties, 80 percent to Brazil^S1
In the Matter of Petróleo Brasileiro S.A. - PetrobrasUS Securities and Exchange Commission. Regulatory. File No. 3-18843.Stage: Settled
- 27 September 2018 Cease and desist order with US$933,473,797 in disgorgement and interest and a US$853.2 million penalty, subject to offsets^S2^S5
In re Petrobras Securities LitigationUS District Court for the Southern District of New York. Civil. No. 14-cv-9662.Stage: Settlement in principle announced on 3 January 2018 and submitted for court review
- 3 January 2018 US$2.95 billion settlement in principle^S3
- 27 September 2018 DOJ release refers to the class case and its settlement fund^S1

Responses on record

Petróleo Brasileiro S.A. - Petrobras, 3 January 2018, on Petrobras agreed in January 2018 to pay US$2.95 billion to settle the US securities class ...
Petrobras said the agreement is not an admission of wrongdoing and described itself as a victim of the scheme.^S3

Revision history

25 October 2026 Profile and 4 assessments first published. Records checked to 25 October 2026.

Source records

S1Tier A Petróleo Brasileiro S.A. - Petrobras Agrees to Pay More Than $850 Million for FCPA ViolationsUS Department of Justice. Regulator press release. 27 September 2018.Supports the non-prosecution agreement, the penalty split and the described conduct. The en dash in the original title is shown as a hyphen.Link working, checked 25 October 2026
S2Tier A Petrobras Reaches Settlement With SEC for Misleading InvestorsUS Securities and Exchange Commission. Regulator press release. 27 September 2018.Supports the SEC charge and the amounts with offsets. It states no admit or deny language.
S5Tier A In the Matter of Petróleo Brasileiro S.A. - Petrobras, Order Instituting Cease-and-Desist ProceedingsUS Securities and Exchange Commission. Regulator order. 27 September 2018.SEC order in File No. 3-18843 with disgorgement of US$711 million, interest of US$222,473,797 and a US$853.2 million penalty. The order records that Petrobras admits the Commission's jurisdiction. The fetched text showed no admit or deny wording. The en dash in the original caption is shown as a hyphen.
S3Tier B Petrobras Signs Agreement in Principle to Settle Class Action in the U.S.Petróleo Brasileiro S.A. - Petrobras. Company filing. 3 January 2018.Company statement of the class action terms and its victim position.
S4Tier C Entenda o processo de delação da Odebrecht anulado por ToffoliPoder360. Press report. 6 September 2023.Explainer by Anna Júlia Lopes on the Toffoli decision. It does not say whether the decision was appealed.Link working, checked 25 October 2026
S6Tier C Decisoes de Toffoli sobre Odebrecht duram meses sem previsao de julgamento no STFGazeta do Povo. Press report. 24 May 2024.Report by Renan Ramalho. It says the prosecutors' appeal against the September 2023 decision had not been decided and the Second Panel review was put off at a justice's request. The title is taken from the page address, without accents, as the headline text was not captured.Link working, checked 25 October 2026