IESA Oil & Gas has been barred from contracts for state entities for at least two years by the Ministry of Transparency, Supervision & Control (MTFC) over its alleged collusion in fixing past deals with Petrobras over a seven-year period.
The decision, revealed on Monday and signed by Minister Torquato Jardim, found that IESA broke two laws between 2007 and 2013: the first relating to co-ordinating tenders with competitors to reduce competition for Petrobras contracts; and the second the payment of bribes through the use of bogus accounts in order to secure contracts.
MTFC
