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Updated Trafigura statement on Operation Car Wash, Brazil

05 September 2019 We note the reports that Carlos Herz, a Brazilian national who acted as a local agent for numerous trading companies doing business with Petrobras, has entered into a cooperation agreement with the Brazilian authorities in the context of Operation Car Wash which refers, amongst other things, to a number of companies including Glencore, Sargeant Marine, Trafigura and Vitol.

We have not been contacted by the Brazilian authorities in relation to Operation Car Wash, or these allegations, but we are reviewing the information available which appears largely to repeat statements made by the Brazilian authorities in December 2018.

Any suggestion that Trafigura’s current management knew that its payments would be used to make improper payments to employees of Petrobras is not correct.

Trafigura has a zero tolerance policy on bribery and corruption.