July 6, 2018 / 11:58 AM / in 4 months

Brazil's Petrobras lifts restrictions on doing business with Odebrecht

SAO PAULO, July 6 (Reuters) - Brazil’s state-run oil company Petróleo Brasileiro SA said its board of directors approved an agreement with Odebrecht SA lifting restrictions on doing business with certain units of the engineering firm, according to a securities filing on Friday.

Petrobras said such an agreement was possible thanks to Odebrecht’s adoption of measures to prevent, detect and remediate acts of corruption, policies which Petrobras was able to verify. Petrobras said it was keeping restrictions on another 14 companies put in place in 2014 in the midst of a sprawling bribery and corruption probe. (Reporting by Ana Mano Editing by Chizu Nomiyama)

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