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Senior oil & gas trader, Brazil-based intermediary charged for bribing Petrobras officials

The accused were Glenn Oztemel, who worked as a senior oil and gas trader at Connecticut-based trading companies and Eduardo Innecco, 73, who worked as an oil and gas broker and agent in Brazil.

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An indictment was unsealed on Friday (17 February) in the District of Connecticut charging a Connecticut man and a foreign national with conspiracy, multiple counts of violating the Foreign Corrupt Practices Act (FCPA), and money laundering in connection with an alleged scheme to pay bribes to Brazilian officials to win contracts with Brazil’s state-owned and state-controlled energy company, Petróleo Brasileiro S.A. – Petrobras (Petrobras). 

The US Department of Justice said according to court documents, Glenn Oztemel, 64, of Westport, worked as a senior oil and gas trader at two Connecticut-based trading companies (Trading Company #1 and Trading Company #2). 

Eduardo Innecco, 73, a dual Brazilian and Italian citizen, worked as an oil and gas broker and agent for Trading Company #1 and Trading Company #2 in Brazil. 

Between approximately mid-2010 and continuing into 2018, Oztemel, Innecco, and others allegedly paid bribes to Petrobras officials for their assistance in helping Trading Company #1 and Trading Company #2 obtain and retain business with Petrobras, including by providing Oztemel, Innecco, and others with confidential information regarding Petrobras’ fuel oil business. As alleged, Oztemel and his co-conspirators caused Trading Company #1 and Trading Company #2 to make corrupt payments – disguised as purported consulting fees and commissions – to Innecco, knowing that Innecco would pay a portion of those funds to Brazilian officials as bribes. 

To conceal the scheme, Oztemel, Innecco, and their co-conspirators allegedly used coded language to refer to the bribes and communicated using personal email accounts, fictitious names, and encrypted messaging applications. 

Oztemel and Innecco are each charged with conspiracy to violate the FCPA, conspiracy to commit money laundering, three counts of violating the FCPA, and two counts of money laundering. They face up to five years in prison for each of the bribery conspiracy and bribery charges, and up to 20 years in prison for each of the money laundering conspiracy and money laundering charges.

Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division, U.S. Attorney Vanessa R. Avery for the District of Connecticut, Assistant Director Luis Quesada of the FBI’s Criminal Investigative Division, and Assistant Director in Charge Donald Alway of the FBI Los Angeles Field Office made the announcement.

The FBI is investigating the case.

Note: An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

 

Photo credit: Ekaterina Bolovtsova
Published: 21 February, 2023

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Bunker Fuel

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

4.46 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in January, a drop from 4.91 million mt recorded during the similar month in 2024, according to MPA data.

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Singapore: Bunker fuel sales down by 9.1% on year in January 2025

Sales of marine fuel at Singapore port decreased by 9.1% on year in January 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.46 million metric tonnes (mt) (exact 4,461,710 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in January, a drop from 4.91 million mt (4,906,100 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in January (against on year) recorded respectively 1.66 million mt (zero from 1.66 million mt), 2.43 million mt (-15% from 2.86 million mt), 900 (+100% from zero), 3,100 mt (-77% from 13,500 mt) and zero (from zero).

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in January (against on year) recorded respectively 16,000 (+100% from zero), 92,000 mt (+103% from 45,300 mt), zero (from zero), zero (from zero) and zero (from zero).

LNG and methanol sales were posted respectively at 6,600 mt (-36.5% from 10,400) and zero (from zero).

A complete series of articles on Singapore bunker volumes by Manifold Times in 2024 can be found below:

Related: Singapore: Bunker fuel sales down by 5.2% on year in December 2024
Related: Singapore: Bunker fuel sales gain by 4.6% on year in November 2024
Related: Singapore: Bunker fuel sales gain by 10.8% on year in October 2024
Related: Singapore: Bunker fuel sales continue to increase by 2.8% on year in September 2024
Related: Singapore: Bunker fuel sales increase by 7.2% on year in August 2024
Related: Singapore: Bunker fuel sales up by 3.3% on year in July 2024
Related: Singapore: Bunker fuel sales gain 8.7% in June 2024
Related: Singapore: Bunker fuel sales increase by 6.7% in May 2024
Related: Singapore: Bunker fuel sales down by 0.6% on year in April 2024
Related: Singapore: Bunker fuel sales increase by 6.4% on year in March 2024
Related: Singapore: Bunker fuel sales up by 18.8% on year in February 2024
Related: Singapore: Bunker fuel sales up by 12.1% on year in January 2024

 

Photo credit: Maritime and Port Authority of Singapore
Published: 14 February, 2025

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Bunker Fuel

Singapore-based Straits Bio-LNG aims to deliver 250,000 mt of bio-LNG bunker fuel per year

Firm is currently in advanced stage of testing breaking down Empty Fruit Bunch through an established biological process with high enzyme concentration in its R&D facility in Malaysia to produce bio-LNG.

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Singapore-based Straits Bio-LNG aims to deliver 250,000 mt of bio-LNG bunker fuel per year

Straits Bio-LNG, a privately owned supplier of bio-LNG, is aiming to deliver 250,000 metric tonnes (mt) of bio-LNG per year in Singapore, according to SEA-LNG on Thursday (13 February).

The Singapore-based company, led by SK Tan as CEO, is doing so in response to the growing demand for LNG. LNG bunkering volumes have grown significantly in key bunkering hubs as more LNG-fuelled vessels have entered into operation. 

The Maritime and Port Authority of Singapore (MPA) saw a dramatic four-fold increase in 2024 to almost 340,000 mt, SEA-LNG said in a statement announcing Straits Bio-LNG joining the coalition. 

Headquartered in Singapore, the company boasts a growing team led by SK Tan as CEO.  

Yiyong He, Director at Straits Bio-LNG, said: “We’re firmly convinced in the viability of the LNG pathway to decarbonise the shipping industry. With its very low carbon intensity and improving commerciality, liquified biomethane will be a critical piece of the puzzle for decarbonising the sector.”

“By joining SEA-LNG, we’re proud to be part of a collection of first movers making real strides to make the LNG pathway a tangible reality today.”

Straits Bio-LNG aims to reach its bio-LNG supply goal by using pioneering methods. It is currently in the advanced stage of testing breaking down Empty Fruit Bunch (EFB) through an established biological process with high enzyme concentration in its R&D facility in Malaysia. 

Both Palm Oil Mill Effluent (POME) and EFB are sustainable biomass resources listed in the “List of Materials Eligible for ISCC EU Certification” and are therefore compliant with the European Union’s Renewable Energy Directive (RED).

Peter Keller, chairman of SEA-LNG, added: “The Port of Singapore is the largest global bunkering hub. As seen in our View from the Bridge report, 2024 saw record growth in LNG and liquified biomethane bunkering, but we need more fuel to meet upcoming demand.”

“The use of liquefied biomethane as a marine fuel can reduce GHG emissions by up to 80% compared to marine diesel on a full well-to-wake basis. When produced from the anaerobic digestion of waste materials, such as manure, POME or EFB, methane that would otherwise be released into the atmosphere is captured, resulting in negative emissions of up to -190% compared with diesel."

An independent study by the Maritime Energy and Sustainable Development Centre of Excellence at Nanyang Technical University in Singapore found that pure bio-LNG could cover up to 13% of the total energy demand for shipping fuels in 2050, rising to 63% for a 20% blending ratio. 

SEA-LNG added MPA has firmly established itself as a leader in the LNG pathway, with suppliers such as Straits Bio-LNG reinforcing this position. 

Recently, the port launched an Expression of Interest (EOI) to explore scalable solutions for sea-based LNG reloading to complement the existing onshore LNG bunkering storage and jetty capacities and the supply of e/bio-methane as marine fuel in the Port of Singapore.

“Straits Bio-LNG will play a critical role in furthering the expansion of liquified biomethane at scale to meet the demand and continuing to showcase the LNG pathway as a practical and realistic solution for shipowners to decarbonise their operations, starting today,” it said. 

Related: Singapore: MPA launches EOI to expand LNG bunkering services amid growing demand

 

Photo credit: Straits Bio-LNG
Published: 14 February, 2025

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Winding up

Singapore: Final meetings scheduled for Gagarmayang Maritime and related companies

Other companies involved are Pramoni Maritime Pte Ltd, Wulansari Maritime Pte Ltd, Anjasmoro Maritime Pte Ltd and Indradi Maritime Pte Ltd.

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The final meetings of members of Gagarmayang Maritime Pte Ltd and related companies, has been scheduled to take place on 12 March, according to the company’s liquidators on a notice posted on Wednesday (12 February) on the Government Gazette.

The other companies involved in the matter are Pramoni Maritime Pte Ltd, Wulansari Maritime Pte Ltd, Anjasmoro Maritime Pte Ltd and Indradi Maritime Pte Ltd.

The meetings will be held by way of electronic means at 11am for the purpose of having an account laid before the members showing the manner in which the winding up has been conducted and the property of the company disposed of and of hearing any explanation that may be given by the liquidators.

The details of the liquidators are as follows:

Hamish Alexander Christie
c/o H.A. Christie & Co
20 Collyer Quay, #11-05
Singapore 049319

Related: Singapore: Wulansari Maritime Pte Ltd and related companies to be wound up voluntarily
Related: Creditors meeting for Anjasmoro Maritime and affiliated sister firms to be held in Oct

 

Photo credit: Benjamin-child
Published: 14 February, 2025

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