Brazil’s fuel regulator investigates biodiesel auction fraud allegations

May 8, 2012 |

In Brazil, the national energy regulator ANP is investigating claims of fraud at a biodiesel auction held last November whose purchase of 650 million liters could mean losses of $675.76 million for Petrobras. The ANP was aware that there could have been price fixing among participants in the auction as early as December but it was decided at the time to go ahead and ratify the auction results.

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Category: Policy

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